First Mercantile Trust Co. reduced its stake in shares of Cullen/Frost Bankers Inc. (NYSE:CFR) by 23.3% during the second quarter, Holdings Channel reports. The firm owned 6,250 shares of the company’s stock after selling 1,900 shares during the period. First Mercantile Trust Co.’s holdings in Cullen/Frost Bankers were worth $398,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bradley Foster & Sargent Inc. CT raised its stake in shares of Cullen/Frost Bankers by 0.3% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 7,785 shares of the company’s stock worth $496,000 after buying an additional 25 shares during the last quarter. State Treasurer State of Michigan raised its stake in shares of Cullen/Frost Bankers by 0.5% in the second quarter. State Treasurer State of Michigan now owns 21,900 shares of the company’s stock valued at $1,396,000 after buying an additional 100 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Cullen/Frost Bankers by 5.3% in the first quarter. Bessemer Group Inc. now owns 2,033 shares of the company’s stock valued at $112,000 after buying an additional 103 shares in the last quarter. First Manhattan Co. raised its stake in shares of Cullen/Frost Bankers by 0.3% in the second quarter. First Manhattan Co. now owns 64,353 shares of the company’s stock valued at $4,101,000 after buying an additional 200 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Cullen/Frost Bankers by 2.5% in the second quarter. Oppenheimer & Co. Inc. now owns 9,685 shares of the company’s stock valued at $617,000 after buying an additional 240 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors.
Shares of Cullen/Frost Bankers Inc. (NYSE:CFR) opened at 69.39 on Wednesday. Cullen/Frost Bankers Inc. has a 52-week low of $42.41 and a 52-week high of $73.99. The firm has a market capitalization of $4.31 billion, a P/E ratio of 16.40 and a beta of 1.13. The firm has a 50-day moving average price of $70.74 and a 200-day moving average price of $64.52.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.06. Cullen/Frost Bankers had a net margin of 24.81% and a return on equity of 9.67%. During the same quarter last year, the business earned $1.11 EPS. On average, equities research analysts anticipate that Cullen/Frost Bankers Inc. will post $4.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.11%. Cullen/Frost Bankers’s payout ratio is 50.82%.
Several analysts recently weighed in on CFR shares. Compass Point started coverage on Cullen/Frost Bankers in a report on Tuesday, June 7th. They issued a “neutral” rating and a $65.00 price objective for the company. Evercore ISI raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating and boosted their price objective for the company from $52.00 to $67.00 in a report on Thursday, June 9th. Zacks Investment Research lowered Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Vetr lowered Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price objective for the company. in a report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Cullen/Frost Bankers from $55.00 to $58.00 and gave the company an “underweight” rating in a report on Thursday, July 7th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $66.38.
In related news, insider Candace K. Wolfshohl sold 4,500 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $69.88, for a total transaction of $314,460.00. Following the sale, the insider now directly owns 8,145 shares in the company, valued at $569,172.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jack A. Wood sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $73.14, for a total transaction of $146,280.00. The disclosure for this sale can be found here. Corporate insiders own 8.03% of the company’s stock.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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