Cullen/Frost Bankers Inc. (CFR) Trading Up 1.4%
Cullen/Frost Bankers Inc. (NYSE:CFR)’s share price was up 1.4% during mid-day trading on Wednesday . The stock traded as high as $71.35 and last traded at $71.04, with a volume of 218,769 shares trading hands. The stock had previously closed at $70.05.
Several equities analysts recently issued reports on CFR shares. TheStreet upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research report on Wednesday, April 20th. JPMorgan Chase & Co. upped their price objective on shares of 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 upped their price objective on shares of Cullen/Frost Bankers from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Thursday, July 28th. Vetr cut shares of Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price objective on the stock. in a report on Tuesday, June 28th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $64.00 price objective on shares of Cullen/Frost Bankers in a report on Sunday, May 22nd. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $66.38.
The firm’s 50-day moving average price is $67.04 and its 200 day moving average price is $60.30. The company has a market cap of $4.37 billion and a P/E ratio of 16.61.
Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.06. During the same quarter in the previous year, the company posted $1.11 EPS. Analysts expect 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 given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Monday, August 29th.
In other Cullen/Frost Bankers news, insider Bobby Berman sold 7,101 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $70.46, for a total transaction of $500,336.46. Following the transaction, the insider now owns 31,347 shares of the company’s stock, valued at approximately $2,208,709.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Kardys sold 25,500 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $69.54, for a total transaction of $1,773,270.00. Following the transaction, the insider now directly owns 128,078 shares in the company, valued at approximately $8,906,544.12. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of the stock. Morgan Stanley increased 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 during the period. Wells Fargo & Company MN increased 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 during the period. Principal Financial Group Inc. increased 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 worth $25,716,000 after buying an additional 1,944 shares during the period. US Bancorp DE increased 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 during the period. Finally, Trexquant Investment LP acquired a new position in Cullen/Frost Bankers during the fourth quarter worth approximately $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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