Polar Asset Management Partners Inc. bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 7,164 shares of the bank’s stock, valued at approximately $1,107,000.
Several other large investors have also modified their holdings of CFR. Concurrent Investment Advisors LLC grew its position in shares of Cullen/Frost Bankers by 863.1% during the fourth quarter. Concurrent Investment Advisors LLC now owns 21,448 shares of the bank’s stock worth $2,716,000 after buying an additional 19,221 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Cullen/Frost Bankers by 3.7% in the 4th quarter. ProShare Advisors LLC now owns 268,194 shares of the bank’s stock valued at $33,961,000 after acquiring an additional 9,612 shares during the last quarter. Verition Fund Management LLC increased its stake in Cullen/Frost Bankers by 52.8% in the fourth quarter. Verition Fund Management LLC now owns 130,944 shares of the bank’s stock valued at $16,581,000 after purchasing an additional 45,254 shares during the last quarter. EFG International AG acquired a new stake in Cullen/Frost Bankers during the 2nd quarter worth $5,906,000. Finally, Whittier Trust Co. increased its position in shares of Cullen/Frost Bankers by 10.6% during the first quarter. Whittier Trust Co. now owns 73,835 shares of the bank’s stock worth $10,332,000 after purchasing an additional 7,061 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.
Insider Transactions at Cullen/Frost Bankers
In related news, EVP Carol Jean Severyn sold 837 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the sale, the executive vice president owned 12,712 shares in the company, valued at $1,885,062.48. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.14% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Get Our Latest Stock Report on CFR
Cullen/Frost Bankers Trading Up 0.1%
NYSE:CFR opened at $163.60 on Thursday. Cullen/Frost Bankers, Inc. has a 12-month low of $119.00 and a 12-month high of $170.80. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $160.72 and its 200-day simple moving average is $147.15. The firm has a market cap of $10.17 billion, a P/E ratio of 15.46, a PEG ratio of 2.50 and a beta of 0.53.
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.15. The company had revenue of $576.01 million for the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same period in the previous year, the company posted $2.39 EPS. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.9 EPS for the current year.
Cullen/Frost Bankers Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, August 31st. Cullen/Frost Bankers’s payout ratio is 38.94%.
Cullen/Frost Bankers Profile
Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.
Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.
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