Cullen/Frost Bankers Inc. (CFR) Shares Gap Up to $68.74
Shares of Cullen/Frost Bankers Inc. (NYSE:CFR) gapped up before the market opened on Monday . The stock had previously closed at $68.59, but opened at $68.74. Cullen/Frost Bankers shares last traded at $71.03, with a volume of 162,775 shares traded.
CFR has been the topic of a number of recent analyst reports. TheStreet upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a report on Wednesday, April 20th. JPMorgan Chase & Co. lifted their price target on Cullen/Frost Bankers from $55.00 to $58.00 and gave the stock an “underweight” rating in a report on Thursday, July 7th. Barclays PLC lifted their price target on Cullen/Frost Bankers from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Thursday, July 28th. Vetr lowered Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price target on the stock. in a report on Tuesday, June 28th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $64.00 price target on shares of Cullen/Frost Bankers in a report on Sunday, May 22nd. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.38.
The company has a 50-day moving average of $66.71 and a 200-day moving average of $60.14. The firm has a market capitalization of $4.38 billion and a price-to-earnings ratio of 16.65.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.05 by $0.06. During the same period in the previous year, the company earned $1.11 EPS. On average, equities analysts predict that Cullen/Frost Bankers Inc. will post $4.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $0.54 per share. The ex-dividend date is Monday, August 29th. This represents a $2.16 annualized dividend and a yield of 3.07%.
In other news, insider Patrick B. Frost sold 10,500 shares of the 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 directly owns 160,147 shares of the company’s stock, valued at approximately $10,846,756.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul Olivier sold 3,476 shares of the 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 $1,085,939.61. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the stock. 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 valued at $3,391,000 after buying an additional 366 shares during the last quarter. Principal Financial Group Inc. boosted its position in Cullen/Frost Bankers by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 428,587 shares of the company’s stock valued at $25,716,000 after buying an additional 1,944 shares during the last quarter. 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 valued at $30,385,000 after buying an additional 3,046 shares during the last quarter. King Luther Capital Management Corp boosted its position in Cullen/Frost Bankers by 1.4% in the fourth quarter. King Luther Capital Management Corp now owns 2,207,172 shares of the company’s stock valued at $132,430,000 after buying an additional 29,581 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in Cullen/Frost Bankers during the fourth quarter valued at $2,062,000.
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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