Cullen/Frost Bankers, Inc. (NYSE:CFR) insider Gary C. Mcknight sold 24,000 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $106.32, for a total value of $2,551,680.00. Following the completion of the transaction, the insider now directly owns 12,844 shares in the company, valued at approximately $1,365,574.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Cullen/Frost Bankers, Inc. (NYSE:CFR) opened at $107.91 on Thursday. The firm has a market capitalization of $6,617.85, a P/E ratio of 19.58, a PEG ratio of 1.73 and a beta of 1.37. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.65 and a current ratio of 0.65. Cullen/Frost Bankers, Inc. has a 52 week low of $81.09 and a 52 week high of $108.77.
Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, January 25th. The bank reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.08. Cullen/Frost Bankers had a return on equity of 11.78% and a net margin of 29.62%. The company had revenue of $358.69 million for the quarter, compared to analyst estimates of $351.34 million. During the same quarter last year, the company earned $1.28 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. research analysts expect that Cullen/Frost Bankers, Inc. will post 6.32 EPS for the current year.
Cullen/Frost Bankers declared that its board has approved a share buyback program on Thursday, October 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a yield of 2.11%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 41.38%.
A number of institutional investors have recently bought and sold shares of CFR. Tower Research Capital LLC TRC acquired a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at $114,000. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Cullen/Frost Bankers in the 4th quarter valued at $116,000. Westwood Holdings Group Inc. acquired a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at $131,000. Meeder Asset Management Inc. boosted its holdings in shares of Cullen/Frost Bankers by 50.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock valued at $150,000 after purchasing an additional 531 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at $212,000. Hedge funds and other institutional investors own 80.12% of the company’s stock.
A number of research firms have recently weighed in on CFR. Stephens set a $110.00 target price on Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Friday, February 9th. Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a report on Wednesday, January 10th. SunTrust Banks reiterated a “buy” rating and issued a $116.00 price objective on shares of Cullen/Frost Bankers in a report on Wednesday, November 29th. Morgan Stanley upped their price objective on Cullen/Frost Bankers from $96.00 to $107.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. Finally, Citigroup upgraded Cullen/Frost Bankers to a “market perform” rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $104.19.
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Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
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