Fiduciary Trust Co. Invests $136,000 in Cullen/Frost Bankers, Inc. (CFR) Stock
Fiduciary Trust Co. purchased a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,455 shares of the bank’s stock, valued at approximately $136,000.
A number of other hedge funds and other institutional investors have also modified their holdings of CFR. Invictus RG acquired a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth approximately $109,000. Mosaic Family Wealth LLC grew its holdings in shares of Cullen/Frost Bankers by 4.9% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,718 shares of the bank’s stock worth $161,000 after purchasing an additional 80 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Cullen/Frost Bankers by 6.4% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 1,791 shares of the bank’s stock worth $168,000 after purchasing an additional 107 shares in the last quarter. Denver Investment Advisors LLC acquired a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth approximately $200,000. Finally, Boston Financial Mangement LLC acquired a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth approximately $202,000. 82.39% of the stock is currently owned by institutional investors.
Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) opened at 88.93 on Wednesday. Cullen/Frost Bankers, Inc. has a 52 week low of $67.86 and a 52 week high of $99.20. The company has a 50-day moving average price of $88.04 and a 200 day moving average price of $91.13. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 17.52 and a beta of 1.33.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.29. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. The firm had revenue of $295.87 million for the quarter, compared to analyst estimates of $316.40 million. During the same quarter last year, the company earned $1.11 EPS. Analysts expect that Cullen/Frost Bankers, Inc. will post $5.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, August 29th. This represents a $2.28 dividend on an annualized basis and a yield of 2.56%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 44.79%.
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Several analysts have recently weighed in on the company. ValuEngine lowered Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Piper Jaffray Companies reissued a “hold” rating and set a $96.50 price objective on shares of Cullen/Frost Bankers in a report on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and set a $95.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, August 11th. BidaskClub lowered Cullen/Frost Bankers from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, Citigroup Inc. lowered Cullen/Frost Bankers to an “underperform” rating in a report on Thursday, August 10th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $95.04.
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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