Cullen/Frost Bankers Inc. (CFR) Stock Price Up 2.6%
Cullen/Frost Bankers Inc. (NYSE:CFR) shares rose 2.6% on Thursday . The company traded as high as $69.29 and last traded at $68.94, with a volume of 310,402 shares changing hands. The stock had previously closed at $67.19.
CFR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Cullen/Frost Bankers in a report on Wednesday, April 6th. TheStreet raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a report on Wednesday, April 20th. Zacks Investment Research lowered Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Tuesday, March 29th. Evercore ISI boosted their price objective on Cullen/Frost Bankers from $40.00 to $42.00 and gave the stock a “sell” rating in a report on Friday, April 1st. Finally, Vetr lowered Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price objective for the company. in a report on Tuesday, June 28th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $61.15.
The company has a market capitalization of $4.26 billion and a PE ratio of 16.21. The firm’s 50 day moving average is $64.34 and its 200 day moving average is $57.36.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. During the same quarter in the prior year, the company earned $1.10 EPS. Analysts forecast that Cullen/Frost Bankers Inc. will post $4.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were paid a $0.54 dividend. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, May 26th.
In other Cullen/Frost Bankers news, EVP Paul Olivier sold 3,476 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $67.27, for a total value of $233,830.52. Following the completion of the transaction, the executive vice president now directly owns 16,143 shares of the company’s stock, valued at $1,085,939.61. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Other institutional investors recently made changes to their positions in the company. Quantitative Investment Management LLC increased its position in shares of Cullen/Frost Bankers by 534.2% in the fourth quarter. Quantitative Investment Management LLC now owns 24,100 shares of the company’s stock worth $1,446,000 after buying an additional 20,300 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Cullen/Frost Bankers by 2.2% in the fourth quarter. Brown Advisory Inc. now owns 46,309 shares of the company’s stock worth $2,778,000 after buying an additional 978 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of Cullen/Frost Bankers during the fourth quarter worth $1,163,000. New York State Common Retirement Fund increased its position in shares of Cullen/Frost Bankers by 1.2% in the fourth quarter. New York State Common Retirement Fund now owns 125,900 shares of the company’s stock worth $7,554,000 after buying an additional 1,500 shares in the last quarter. Finally, Stevens Capital Management LP increased its position in shares of Cullen/Frost Bankers by 1,189.0% in the fourth quarter. Stevens Capital Management LP now owns 60,350 shares of the company’s stock worth $3,621,000 after buying an additional 55,668 shares in the last quarter.
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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