Wedbush Begins Coverage on Cullen/Frost Bankers Inc. (CFR)
Several other research analysts have also recently commented on the company. JPMorgan Chase & Co. raised their target price on Cullen/Frost Bankers from $55.00 to $58.00 and gave the stock an underweight rating in a research report on Thursday, July 7th. Zacks Investment Research lowered Cullen/Frost Bankers from a buy rating to a hold rating in a research note on Tuesday, October 4th. Barclays PLC increased their price objective on Cullen/Frost Bankers from $70.00 to $72.00 and gave the stock an underweight rating in a research note on Thursday, July 28th. 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 research note on Tuesday, June 28th. Finally, RBC Capital Markets reiterated a sector perform rating and set a $70.00 price objective (up from $63.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 28th. Four research 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. The stock presently has a consensus rating of Hold and an average target price of $67.28.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a return on equity of 9.67% and a net margin of 24.81%. During the same period in the previous year, the company earned $1.11 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Monday, August 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 50.82%.
In other Cullen/Frost Bankers news, insider Candace K. Wolfshohl sold 4,500 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $69.88, for a total transaction of $314,460.00. Following the transaction, the insider now owns 8,145 shares in the company, valued at $569,172.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Patrick B. Frost sold 10,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $67.73, for a total value of $711,165.00. Following the transaction, the insider now owns 160,147 shares in the company, valued at approximately $10,846,756.31. The disclosure for this sale can be found here. Company insiders own 8.03% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in shares of Cullen/Frost Bankers by 24.7% in the first quarter. Goldman Sachs Group Inc. now owns 277,547 shares of the company’s stock worth $15,295,000 after buying an additional 54,902 shares during the period. Riverhead Capital Management LLC boosted its position in shares of Cullen/Frost Bankers by 971.1% in the first quarter. Riverhead Capital Management LLC now owns 110,327 shares of the company’s stock worth $6,080,000 after buying an additional 100,027 shares during the period. Rafferty Asset Management LLC boosted its position in shares of Cullen/Frost Bankers by 862.4% in the first quarter. Rafferty Asset Management LLC now owns 50,392 shares of the company’s stock worth $2,777,000 after buying an additional 45,156 shares during the period. State Street Corp boosted its position in shares of Cullen/Frost Bankers by 23.6% in the first quarter. State Street Corp now owns 6,959,482 shares of the company’s stock worth $383,537,000 after buying an additional 1,327,149 shares during the period. Finally, Kempen Capital Management N.V. boosted its position in shares of Cullen/Frost Bankers by 8.5% in the first quarter. Kempen Capital Management N.V. now owns 385,250 shares of the company’s stock worth $21,231,000 after buying an additional 30,150 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.
Cullen/Frost Bankers Company Profile
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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