First Trust Advisors LP raised its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 964.9% during the 3rd quarter, Holdings Channel reports. The firm owned 280,056 shares of the bank’s stock after acquiring an additional 253,758 shares during the quarter. First Trust Advisors LP’s holdings in Cullen/Frost Bankers were worth $29,249,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cullen/Frost Bankers by 70.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,241 shares of the bank’s stock worth $134,000 after buying an additional 511 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Cullen/Frost Bankers in the 3rd quarter worth $158,000. Macquarie Group Ltd. purchased a new position in shares of Cullen/Frost Bankers in the 2nd quarter worth $184,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Cullen/Frost Bankers in the 2nd quarter worth $197,000. Finally, Huntington National Bank boosted its stake in shares of Cullen/Frost Bankers by 322.6% in the 2nd quarter. Huntington National Bank now owns 1,834 shares of the bank’s stock worth $199,000 after buying an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 78.97% of the company’s stock.
CFR has been the topic of a number of research reports. SunTrust Banks dropped their price target on Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Wednesday, July 18th. Stephens set a $101.00 price target on Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Monday, October 29th. Morgan Stanley restated a “hold” rating and issued a $115.00 price target on shares of Cullen/Frost Bankers in a research note on Tuesday, September 18th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $118.00 price target on shares of Cullen/Frost Bankers in a research note on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $116.89.
NYSE CFR opened at $100.01 on Friday. The firm has a market cap of $6.40 billion, a P/E ratio of 15.29, a P/E/G ratio of 1.54 and a beta of 1.31. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers, Inc. has a fifty-two week low of $90.02 and a fifty-two week high of $121.66.
Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 25th. The bank reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.06. The company had revenue of $353.34 million for the quarter, compared to the consensus estimate of $337.41 million. Cullen/Frost Bankers had a return on equity of 13.74% and a net margin of 32.11%. During the same period in the previous year, the business earned $1.41 earnings per share. On average, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 6.83 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.67 per share. The ex-dividend date is Thursday, November 29th. This represents a $2.68 annualized dividend and a yield of 2.68%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 49.17%.
In related news, Director Carlos Alvarez bought 54,000 shares of the stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average cost of $93.71 per share, for a total transaction of $5,060,340.00. Following the completion of the transaction, the director now owns 386,500 shares of the company’s stock, valued at $36,218,915. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.15% of the stock is currently owned by insiders.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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