Cullen/Frost Bankers Inc. (NYSE:CFR)’s share price 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 traded.

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Cullen/Frost Bankers from $57.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, July 28th. Maxim Group raised their price target on Cullen/Frost Bankers from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Jefferies Group raised their price target on Cullen/Frost Bankers from $61.00 to $67.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. Royal Bank Of Canada raised their price target on Cullen/Frost Bankers from $63.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 28th. Finally, Barclays PLC raised their price target on Cullen/Frost Bankers from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Thursday, July 28th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $66.38.

The company has a market capitalization of $4.36 billion and a price-to-earnings ratio of 16.60. The stock’s 50-day moving average price is $65.73 and its 200 day moving average price is $58.87.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.06. During the same period in the previous year, the company earned $1.11 EPS. On average, equities analysts forecast that Cullen/Frost Bankers Inc. will post $4.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $2.16 dividend on an annualized basis and a yield of 3.07%.

In other news, EVP Paul Olivier sold 3,476 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $67.27, for a total transaction of $233,830.52. Following the transaction, the executive vice president now owns 16,143 shares of the company’s stock, valued at $1,085,939.61. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Patrick B. Frost sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $67.73, for a total value of $711,165.00. Following the transaction, the insider now directly owns 160,147 shares in the company, valued at approximately $10,846,756.31. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have added to or reduced their stakes in CFR. Wells Fargo & Company MN boosted its position in Cullen/Frost Bankers by 0.6% in the fourth quarter. Wells Fargo & Company MN now owns 506,416 shares of the company’s stock worth $30,385,000 after buying an additional 3,046 shares in the last quarter. Morgan Stanley boosted its position in Cullen/Frost Bankers by 356.4% in the fourth quarter. Morgan Stanley now owns 421,202 shares of the company’s stock worth $25,273,000 after buying an additional 328,916 shares in the last quarter. Trexquant Investment LP acquired a new position in Cullen/Frost Bankers during the fourth quarter worth approximately $2,062,000. Hodges Capital Management Inc. boosted its position in Cullen/Frost Bankers by 16.6% in the fourth quarter. Hodges Capital Management Inc. now owns 32,122 shares of the company’s stock worth $1,927,000 after buying an additional 4,563 shares in the last quarter. Finally, US Bancorp DE boosted 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 worth $3,391,000 after buying an additional 366 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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