Fruth Investment Management Invests $252,000 in Cullen/Frost Bankers, Inc. (NYSE:CFR)
Fruth Investment Management acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,900 shares of the bank’s stock, valued at approximately $252,000.
Other hedge funds have also bought and sold shares of the company. FMR LLC raised its position in Cullen/Frost Bankers by 0.3% in the second quarter. FMR LLC now owns 2,697,919 shares of the bank’s stock valued at $201,561,000 after purchasing an additional 9,179 shares during the period. Neuberger Berman Group LLC raised its position in Cullen/Frost Bankers by 3.4% in the second quarter. Neuberger Berman Group LLC now owns 1,765,212 shares of the bank’s stock valued at $131,701,000 after purchasing an additional 57,876 shares during the period. Champlain Investment Partners LLC increased its position in shares of Cullen/Frost Bankers by 0.9% during the third quarter. Champlain Investment Partners LLC now owns 1,681,445 shares of the bank’s stock worth $107,528,000 after acquiring an additional 15,370 shares during the last quarter. Sprucegrove Investment Management Ltd. increased its position in shares of Cullen/Frost Bankers by 45.8% during the third quarter. Sprucegrove Investment Management Ltd. now owns 531,000 shares of the bank’s stock worth $33,957,000 after acquiring an additional 166,800 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. increased its position in shares of Cullen/Frost Bankers by 111.1% during the third quarter. Montrusco Bolton Investments Inc. now owns 506,715 shares of the bank’s stock worth $32,404,000 after acquiring an additional 266,689 shares during the last quarter. Institutional investors and hedge funds own 81.39% of the company’s stock.
A number of analysts have recently issued reports on the company. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating and set a $109.00 target price on the stock in a research report on Monday. BidaskClub upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research note on Saturday, January 9th. TheStreet upgraded Cullen/Frost Bankers from a “c+” rating to a “b-” rating in a research note on Wednesday, November 18th. Morgan Stanley upped their price objective on Cullen/Frost Bankers from $75.00 to $81.00 and gave the stock an “underweight” rating in a research note on Thursday, January 7th. Finally, Keefe, Bruyette & Woods downgraded Cullen/Frost Bankers from an “outperform” rating to a “market perform” rating and set a $80.00 price objective for the company. in a research note on Wednesday, November 11th. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $81.10.
Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 29th. The bank reported $1.50 EPS for the quarter, beating the consensus estimate of $1.19 by $0.31. Cullen/Frost Bankers had a return on equity of 6.68% and a net margin of 22.81%. The business had revenue of $350.64 million during the quarter, compared to the consensus estimate of $357.14 million. During the same period in the prior year, the business posted $1.73 earnings per share. As a group, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 3.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.97%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, November 27th. Cullen/Frost Bankers’s dividend payout ratio is currently 42.11%.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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