Cullen/Frost Bankers Inc. (CFR) Sees Large Volume Increase
Cullen/Frost Bankers Inc. (NYSE:CFR) shares saw unusually-strong trading volume on Thursday . Approximately 892,099 shares traded hands during mid-day trading, an increase of 77% from the previous session’s volume of 503,726 shares.The stock last traded at $68.17 and had previously closed at $68.09.
Several equities research analysts recently issued reports on CFR shares. TheStreet upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a report on Wednesday, April 20th. Vetr cut 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. 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 report on Thursday, July 7th. Compass Point started coverage on Cullen/Frost Bankers in a report on Tuesday, June 7th. They issued a “neutral” rating and a $65.00 price objective on the stock. Finally, Zacks Investment Research cut Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price of $61.15.
The stock has a market cap of $4.27 billion and a PE ratio of 16.24. The company’s 50 day moving average is $64.77 and its 200-day moving average is $57.81.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Wednesday, April 27th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. During the same quarter last year, the business earned $1.10 earnings per share. On average, equities research analysts forecast that Cullen/Frost Bankers Inc. will post $4.45 earnings per share for the current year.
In other news, EVP Paul Olivier sold 3,476 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 16,143 shares in the company, valued at $1,085,939.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Other hedge funds have added to or reduced their stakes in the company. ProShare Advisors LLC raised its stake in Cullen/Frost Bankers by 19.8% in the fourth quarter. ProShare Advisors LLC now owns 21,861 shares of the company’s stock valued at $1,312,000 after buying an additional 3,613 shares in the last quarter. Quantitative Investment Management LLC raised its stake in Cullen/Frost Bankers by 534.2% in the fourth quarter. Quantitative Investment Management LLC now owns 24,100 shares of the company’s stock valued at $1,446,000 after buying an additional 20,300 shares in the last quarter. Hodges Capital Management Inc. raised its stake 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 valued at $1,927,000 after buying an additional 4,563 shares in the last quarter. Trexquant Investment LP acquired a new stake in Cullen/Frost Bankers during the fourth quarter valued at approximately $2,062,000. Finally, Sei Investments Co. raised its stake in Cullen/Frost Bankers by 13.3% in the fourth quarter. Sei Investments Co. now owns 35,767 shares of the company’s stock valued at $2,145,000 after buying an additional 4,204 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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