Cullen/Frost Bankers Inc. (CFR) Shares Gap Up to $67.28
Cullen/Frost Bankers Inc. (NYSE:CFR) gapped up before the market opened on Friday . The stock had previously closed at $66.90, but opened at $67.28. Cullen/Frost Bankers shares last traded at $70.23, with a volume of 237,147 shares trading hands.
A number of equities research analysts recently weighed in on CFR shares. TheStreet upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research note on Wednesday, April 20th. Deutsche Bank AG reaffirmed a “buy” rating and set a $64.00 target price on shares of Cullen/Frost Bankers in a report on Sunday, May 22nd. Royal Bank Of Canada lifted their target price on Cullen/Frost Bankers from $54.00 to $63.00 and gave the stock a “sector perform” rating in a report on Thursday, April 28th. JPMorgan Chase & Co. lifted their target price on Cullen/Frost Bankers from $55.00 to $58.00 and gave the stock an “underweight” rating in a report on Thursday, July 7th. Finally, Vetr lowered Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 target price on the stock. in a report on Tuesday, June 28th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $66.38.
The stock has a market capitalization of $4.36 billion and a price-to-earnings ratio of 16.60. The stock’s 50 day moving average is $65.73 and its 200 day moving average is $58.87.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.06. During the same period last year, the business posted $1.11 EPS. Equities research analysts anticipate that Cullen/Frost Bankers Inc. will post $4.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, August 29th.
In other news, insider Patrick B. Frost sold 10,500 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $67.73, for a total transaction of $711,165.00. Following the transaction, the insider now owns 160,147 shares of the company’s stock, valued at $10,846,756.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul Olivier sold 3,476 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $67.27, for a total value of $233,830.52. Following the transaction, the executive vice president now directly owns 16,143 shares in the company, valued at approximately $1,085,939.61. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of the stock. Hodges Capital Management Inc. raised its position in shares of Cullen/Frost Bankers by 16.6% in the fourth quarter. Hodges Capital Management Inc. now owns 32,122 shares of the company’s stock valued at $1,927,000 after buying an additional 4,563 shares during the period. Trexquant Investment LP bought a new position in Cullen/Frost Bankers during the fourth quarter valued at $2,062,000. US Bancorp DE raised its position in Cullen/Frost Bankers by 0.7% in the fourth quarter. US Bancorp DE now owns 56,515 shares of the company’s stock valued at $3,391,000 after buying an additional 366 shares during the last quarter. New York State Common Retirement Fund raised its position in 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 valued at $7,554,000 after buying an additional 1,500 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its position in Cullen/Frost Bankers by 184.4% in the fourth quarter. State of Tennessee Treasury Department now owns 138,800 shares of the company’s stock valued at $8,328,000 after buying an additional 90,000 shares during 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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