BB&T Securities LLC purchased a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,242 shares of the bank’s stock, valued at approximately $210,000.
Several other hedge funds have also made changes to their positions in CFR. Invictus RG purchased a new stake in shares of Cullen/Frost Bankers during the 1st quarter valued at approximately $109,000. Public Employees Retirement Association of Colorado lifted its stake in Cullen/Frost Bankers by 6.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 1,791 shares of the bank’s stock worth $168,000 after purchasing an additional 107 shares in the last quarter. Denver Investment Advisors LLC purchased a new stake in Cullen/Frost Bankers in the 2nd quarter worth approximately $200,000. Boston Financial Mangement LLC purchased a new stake in Cullen/Frost Bankers in the 2nd quarter worth approximately $202,000. Finally, CIBC Asset Management Inc purchased a new stake in Cullen/Frost Bankers in the 2nd quarter worth approximately $203,000. Institutional investors own 82.39% of the company’s stock.
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Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Tuesday, June 13th. Maxim Group restated a “buy” rating and set a $105.00 price objective on shares of Cullen/Frost Bankers in a research report on Thursday, July 27th. Stephens set a $97.00 price objective on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a research report on Thursday, July 27th. BidaskClub upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Tuesday, July 4th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $95.04.
Cullen/Frost Bankers, Inc. (CFR) opened at 88.07 on Friday. The stock has a market capitalization of $5.66 billion, a PE ratio of 17.35 and a beta of 1.33. Cullen/Frost Bankers, Inc. has a 12 month low of $67.86 and a 12 month high of $99.20. The company’s 50-day moving average is $87.34 and its 200-day moving average is $91.06.
Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.29. The company had revenue of $295.87 million for the quarter, compared to analyst estimates of $316.40 million. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. During the same quarter in the prior year, the company earned $1.11 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post $5.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Tuesday, August 29th. Cullen/Frost Bankers’s payout ratio is currently 44.79%.
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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