GSA Capital Partners LLP acquired a new position in shares of Cullen/Frost Bankers Inc. (NYSE:CFR) during the second quarter, Holdings Channel reports. The institutional investor acquired 3,910 shares of the company’s stock, valued at approximately $249,000.
A number of other large investors also recently modified their holdings of CFR. State Street Corp increased its stake in shares of Cullen/Frost Bankers by 23.6% in the first quarter. State Street Corp now owns 6,959,482 shares of the company’s stock worth $383,537,000 after buying an additional 1,327,149 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Cullen/Frost Bankers by 243.4% in the first quarter. Prudential Financial Inc. now owns 200,838 shares of the company’s stock worth $11,069,000 after buying an additional 142,360 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Cullen/Frost Bankers during the second quarter worth $8,088,000. Riverhead Capital Management LLC increased its stake in shares of Cullen/Frost Bankers by 971.1% in the first quarter. Riverhead Capital Management LLC now owns 110,327 shares of the company’s stock worth $6,080,000 after buying an additional 100,027 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Cullen/Frost Bankers by 12.7% in the first quarter. Wellington Management Group LLP now owns 599,782 shares of the company’s stock worth $33,053,000 after buying an additional 67,792 shares during the last quarter. 84.81% of the stock is currently owned by institutional investors.
Shares of Cullen/Frost Bankers Inc. (NYSE:CFR) traded up 3.569% on Friday, hitting $72.115. The stock had a trading volume of 441,741 shares. The firm’s 50-day moving average price is $70.77 and its 200 day moving average price is $64.60. 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 cap of $4.48 billion, a PE ratio of 17.040 and a beta of 1.13.
Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a return on equity of 9.67% and a net margin of 24.81%. During the same quarter in the previous year, the business posted $1.11 earnings per share. On average, equities research analysts predict that Cullen/Frost Bankers Inc. will post $4.56 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a dividend of $0.54 per share. The ex-dividend date was Monday, August 29th. This represents a $2.16 annualized dividend and a yield of 3.10%. Cullen/Frost Bankers’s payout ratio is 50.82%.
CFR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Cullen/Frost Bankers from $55.00 to $58.00 and gave the company an “underweight” rating in a research note on Thursday, July 7th. Barclays PLC increased their price target on Cullen/Frost Bankers from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Thursday, July 28th. Vetr cut Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price target for the company. in a research note on Tuesday, June 28th. RBC Capital Markets reiterated a “sector perform” rating and issued a $70.00 price target (up from $63.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 28th. Finally, Keefe, Bruyette & Woods increased their price target on Cullen/Frost Bankers from $57.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, July 28th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Cullen/Frost Bankers presently has an average rating of “Hold” and an average target price of $66.38.
In other news, insider Patrick B. Frost sold 10,500 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $67.73, for a total transaction of $711,165.00. Following the completion of the transaction, the insider now directly owns 160,147 shares of the company’s stock, valued at approximately $10,846,756.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jack A. Wood sold 10,200 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $73.15, for a total value of $746,130.00. 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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