Prudential Financial Inc. Has $5,546,000 Stake in Cullen/Frost Bankers Inc. (CFR)
Prudential Financial Inc. reduced its position in Cullen/Frost Bankers Inc. (NYSE:CFR) by 56.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,018 shares of the company’s stock after selling 113,820 shares during the period. Prudential Financial Inc. owned about 0.14% of Cullen/Frost Bankers worth $5,546,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its position in Cullen/Frost Bankers by 5.3% in the first quarter. Bessemer Group Inc. now owns 2,033 shares of the company’s stock worth $112,000 after buying an additional 103 shares during the last quarter. Creative Planning raised its position in Cullen/Frost Bankers by 112.3% in the second quarter. Creative Planning now owns 3,132 shares of the company’s stock worth $200,000 after buying an additional 1,657 shares during the last quarter. LS Investment Advisors LLC raised its position in Cullen/Frost Bankers by 72.2% in the second quarter. LS Investment Advisors LLC now owns 3,267 shares of the company’s stock worth $208,000 after buying an additional 1,370 shares during the last quarter. Fruth Investment Management acquired a new position in Cullen/Frost Bankers during the second quarter worth approximately $216,000. Finally, GSA Capital Partners LLP acquired a new position in Cullen/Frost Bankers during the second quarter worth approximately $249,000. 84.76% of the stock is owned by institutional investors.
Cullen/Frost Bankers Inc. (NYSE:CFR) traded down 2.993% on Thursday, reaching $70.456. The company’s stock had a trading volume of 23,528 shares. Cullen/Frost Bankers Inc. has a 12 month low of $42.41 and a 12 month high of $74.12. The firm has a market cap of $4.38 billion, a P/E ratio of 16.648 and a beta of 1.11. The firm’s 50 day moving average is $71.30 and its 200-day moving average is $65.58.
Cullen/Frost Bankers (NYSE:CFR) last announced 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. Cullen/Frost Bankers had a net margin of 24.81% and a return on equity of 9.67%. During the same period in the previous year, the business earned $1.11 EPS. On average, equities research analysts anticipate that Cullen/Frost Bankers Inc. will post $4.56 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.54 per share. The ex-dividend date was Monday, August 29th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.97%. Cullen/Frost Bankers’s payout ratio is presently 50.82%.
CFR has been the topic of a number of recent analyst reports. Jefferies Group lifted their price objective on Cullen/Frost Bankers from $61.00 to $67.00 and gave the stock a “hold” rating in a research note on Thursday, July 28th. Royal Bank Of Canada lifted their price objective on Cullen/Frost Bankers from $63.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 28th. Zacks Investment Research lowered Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Vetr lowered Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price objective on the stock. in a research note on Tuesday, June 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Cullen/Frost Bankers from $55.00 to $58.00 and gave the stock an “underweight” rating in a research note on Thursday, July 7th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.83.
In other Cullen/Frost Bankers news, insider Richard Kardys sold 25,500 shares of Cullen/Frost Bankers stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $69.54, for a total value of $1,773,270.00. Following the completion of the sale, the insider now directly owns 128,078 shares of the company’s stock, valued at $8,906,544.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Candace K. Wolfshohl sold 4,500 shares of Cullen/Frost Bankers stock in a transaction on Monday, September 12th. The shares were sold at an average price of $69.88, for a total transaction of $314,460.00. Following the completion of the sale, the insider now directly owns 8,145 shares of the company’s stock, valued at $569,172.60. The disclosure for this sale can be found here. Company insiders own 8.03% 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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