Hodges Capital Management Inc. Sells 1,975 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)
Hodges Capital Management Inc. lowered its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 29.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,738 shares of the bank’s stock after selling 1,975 shares during the period. Hodges Capital Management Inc.’s holdings in Cullen/Frost Bankers were worth $445,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Invictus RG acquired a new stake in shares of Cullen/Frost Bankers during the first quarter valued at about $109,000. Mosaic Family Wealth LLC raised its stake in shares of Cullen/Frost Bankers by 2.8% in the first quarter. Mosaic Family Wealth LLC now owns 1,638 shares of the bank’s stock valued at $146,000 after buying an additional 44 shares during the period. Americafirst Capital Management LLC acquired a new stake in shares of Cullen/Frost Bankers during the first quarter valued at about $156,000. Public Employees Retirement Association of Colorado raised its stake in shares of Cullen/Frost Bankers by 6.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 1,791 shares of the bank’s stock valued at $168,000 after buying an additional 107 shares during the period. Finally, Boston Financial Mangement LLC acquired a new stake in shares of Cullen/Frost Bankers during the second quarter valued at about $202,000. Institutional investors own 80.80% of the company’s stock.
Cullen/Frost Bankers, Inc. (NYSE:CFR) opened at 90.18 on Thursday. The firm has a 50 day moving average of $93.83 and a 200-day moving average of $92.06. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 17.77 and a beta of 1.32. Cullen/Frost Bankers, Inc. has a 52-week low of $67.86 and a 52-week high of $99.20.
Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, meeting the consensus estimate of $1.29. The firm had revenue of $295.87 million during the quarter, compared to analyst estimates of $316.40 million. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. During the same period in the previous year, the firm earned $1.11 EPS. Equities analysts expect that Cullen/Frost Bankers, Inc. will post $5.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, August 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 44.79%.
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Several analysts recently issued reports on the stock. Maxim Group restated a “buy” rating and set a $105.00 target price on shares of Cullen/Frost Bankers in a research report on Thursday, July 27th. Zacks Investment Research lowered shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Piper Jaffray Companies restated a “hold” rating and set a $100.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, July 28th. Stephens set a $97.00 target price on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a research report on Thursday, July 27th. Finally, Barclays PLC set a $97.00 target price on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a research report on Sunday, July 30th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $95.33.
In related news, Director Graham M. Weston purchased 22,081 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average price of $90.56 per share, with a total value of $1,999,655.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.15% of the stock is owned by insiders.
About Cullen/Frost Bankers
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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