WealthPLAN Partners LLC increased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 6.8% in the first quarter, HoldingsChannel reports. The firm owned 59,551 shares of the bank’s stock after purchasing an additional 3,798 shares during the quarter. WealthPLAN Partners LLC’s holdings in Cullen/Frost Bankers were worth $5,773,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Advisers LP increased its stake in Cullen/Frost Bankers by 18.1% during the 4th quarter. Two Sigma Advisers LP now owns 144,636 shares of the bank’s stock worth $12,719,000 after purchasing an additional 22,200 shares in the last quarter. Stone Ridge Asset Management LLC bought a new position in shares of Cullen/Frost Bankers during the 4th quarter worth approximately $333,000. Hallmark Capital Management Inc. grew its stake in shares of Cullen/Frost Bankers by 8.1% during the 1st quarter. Hallmark Capital Management Inc. now owns 16,669 shares of the bank’s stock worth $1,618,000 after acquiring an additional 1,256 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Cullen/Frost Bankers by 78.1% during the 4th quarter. Deutsche Bank AG now owns 170,264 shares of the bank’s stock worth $14,971,000 after acquiring an additional 74,639 shares in the last quarter. Finally, Tower Bridge Advisors grew its stake in shares of Cullen/Frost Bankers by 7.5% during the 4th quarter. Tower Bridge Advisors now owns 49,028 shares of the bank’s stock worth $4,312,000 after acquiring an additional 3,409 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on CFR shares. Wedbush raised their price target on shares of Cullen/Frost Bankers from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Maxim Group reaffirmed a “buy” rating and set a $110.00 price target (down from $115.00) on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Stephens set a $100.00 price target on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, Zacks Investment Research cut shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $102.89.
Shares of CFR traded down $0.22 during mid-day trading on Monday, hitting $92.25. 930 shares of the company’s stock were exchanged, compared to its average volume of 203,902. The stock has a market capitalization of $5.83 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.39 and a beta of 1.39. Cullen/Frost Bankers, Inc. has a 52 week low of $81.87 and a 52 week high of $116.45. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.07.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.04. The company had revenue of $367.96 million during the quarter, compared to analysts’ expectations of $366.47 million. Cullen/Frost Bankers had a net margin of 32.16% and a return on equity of 14.30%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $1.61 EPS. On average, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 7 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.67. Cullen/Frost Bankers’s dividend payout ratio is presently 41.16%.
In other news, CFO Jerry Salinas sold 12,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $100.98, for a total value of $1,211,760.00. Following the completion of the sale, the chief financial officer now owns 24,856 shares of the company’s stock, valued at approximately $2,509,958.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Phillip D. Green sold 14,210 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.91, for a total value of $1,448,141.10. Following the completion of the sale, the chairman now directly owns 34,337 shares of the company’s stock, valued at approximately $3,499,283.67. The disclosure for this sale can be found here. Corporate insiders own 4.84% of the company’s stock.
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Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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