Somerset Trust Co Sells 4 Shares of Cullen/Frost Bankers, Inc. (CFR)
Somerset Trust Co cut its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.1% during the first quarter, Holdings Channel reports. The firm owned 6,909 shares of the bank’s stock after selling 4 shares during the period. Somerset Trust Co’s holdings in Cullen/Frost Bankers were worth $615,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of CFR. BlackRock Fund Advisors raised its stake in Cullen/Frost Bankers by 9.5% in the third quarter. BlackRock Fund Advisors now owns 2,109,192 shares of the bank’s stock valued at $151,735,000 after buying an additional 183,239 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Cullen/Frost Bankers by 2.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,635,409 shares of the bank’s stock valued at $117,651,000 after buying an additional 38,944 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Cullen/Frost Bankers by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 644,032 shares of the bank’s stock valued at $46,332,000 after buying an additional 12,922 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Cullen/Frost Bankers during the third quarter valued at about $45,712,000. Finally, Principal Financial Group Inc. raised its stake in Cullen/Frost Bankers by 12.4% in the third quarter. Principal Financial Group Inc. now owns 622,009 shares of the bank’s stock valued at $44,748,000 after buying an additional 68,866 shares in the last quarter. Hedge funds and other institutional investors own 81.64% of the company’s stock.
Cullen/Frost Bankers, Inc. (NYSE:CFR) traded down 0.35% during mid-day trading on Tuesday, hitting $87.78. The company had a trading volume of 411,299 shares. The company has a 50-day moving average price of $89.61 and a 200 day moving average price of $85.20. Cullen/Frost Bankers, Inc. has a 52-week low of $57.94 and a 52-week high of $96.62. The company has a market capitalization of $5.60 billion, a P/E ratio of 18.66 and a beta of 1.20.
Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Wednesday, January 25th. The bank reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.06. Cullen/Frost Bankers had a return on equity of 10.39% and a net margin of 26.73%. The firm had revenue of $338.40 million for the quarter, compared to analyst estimates of $305.52 million. During the same quarter in the prior year, the company earned $0.90 EPS. Cullen/Frost Bankers’s revenue was up 9.6% on a year-over-year basis. On average, analysts forecast that Cullen/Frost Bankers, Inc. will post $5.13 EPS for the current fiscal year.
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A number of equities research analysts have issued reports on the stock. Raymond James Financial, Inc. assumed coverage on shares of Cullen/Frost Bankers in a report on Thursday, April 6th. They set a “market perform” rating for the company. Maxim Group increased their price objective on shares of Cullen/Frost Bankers from $85.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 19th. Keefe, Bruyette & Woods set a $94.00 price objective on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a report on Monday, April 3rd. Zacks Investment Research lowered shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Thursday, April 6th. Finally, JPMorgan Chase & Co. raised shares of Cullen/Frost Bankers from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $67.00 to $95.00 in a report on Thursday, January 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $82.83.
In other Cullen/Frost Bankers news, insider Bobby Berman sold 7,940 shares of Cullen/Frost Bankers stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $93.35, for a total value of $741,199.00. Following the transaction, the insider now directly owns 38,596 shares in the company, valued at approximately $3,602,936.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Annette M. Alonzo sold 6,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $92.03, for a total value of $552,180.00. Following the completion of the transaction, the insider now owns 2,676 shares in the company, valued at $246,272.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,940 shares of company stock worth $4,372,799. Company insiders own 8.03% of the company’s stock.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
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