Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Free Report) insider Paul Bracher sold 2,900 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $158.24, for a total value of $458,896.00. Following the transaction, the insider owned 108,736 shares in the company, valued at approximately $17,206,384.64. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Cullen/Frost Bankers Trading Up 0.1%
Shares of NYSE:CFR opened at $158.23 on Wednesday. The business’s 50-day moving average is $157.13 and its 200 day moving average is $149.50. Cullen/Frost Bankers, Inc. has a 1 year low of $119.14 and a 1 year high of $170.80. The firm has a market capitalization of $9.84 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.68 and a beta of 0.52. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65.
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The bank reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $603.83 million during the quarter, compared to analysts’ expectations of $610.19 million. Cullen/Frost Bankers had a return on equity of 16.27% and a net margin of 23.37%. During the same period last year, the business posted $2.67 earnings per share. On average, research analysts predict that Cullen/Frost Bankers, Inc. will post 11.02 earnings per share for the current fiscal year.
Cullen/Frost Bankers Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, November 30th. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. Cullen/Frost Bankers’s dividend payout ratio is 38.33%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Cullen/Frost Bankers during the second quarter worth about $1,133,453,000. Jupiter Topco LLC purchased a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $94,297,000. William Blair Investment Management LLC acquired a new position in Cullen/Frost Bankers in the 2nd quarter worth approximately $89,425,000. The Manufacturers Life Insurance Company acquired a new position in Cullen/Frost Bankers in the 2nd quarter worth approximately $80,127,000. Finally, Bank of New York Mellon Corp acquired a new position in Cullen/Frost Bankers in the 2nd quarter worth approximately $79,846,000. 86.90% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts recently commented on CFR shares. Keefe, Bruyette & Woods cut shares of Cullen/Frost Bankers from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $180.00 to $175.00 in a research note on Monday, November 2nd. Cantor Fitzgerald cut their price target on shares of Cullen/Frost Bankers from $175.00 to $167.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 14th. Royal Bank Of Canada decreased their price target on shares of Cullen/Frost Bankers from $176.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, October 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cullen/Frost Bankers in a report on Tuesday, October 13th. Finally, Stephens lifted their price objective on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $171.55.
Get Our Latest Stock Analysis on CFR
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc. is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and other financial services to individuals and businesses. Frost Bank’s services include consumer and commercial banking, lending, treasury management, and wealth management, including trust and investment services. The company primarily serves customers across Texas through its branches and digital banking channels. The company traces its roots to 1868, when Thomas Claiborne Frost established a mercantile business in San Antonio; banking became part of the business later in the 19th century.
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