Cary Street Partners Investment Advisory LLC boosted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) by 29,722.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,684 shares of the bank’s stock after acquiring an additional 2,675 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Cullen/Frost Bankers were worth $289,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. AGF Management Ltd. purchased a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth $2,798,000. Shelton Capital Management increased its holdings in shares of Cullen/Frost Bankers by 6.7% in the 1st quarter. Shelton Capital Management now owns 3,202 shares of the bank’s stock valued at $337,000 after acquiring an additional 200 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth about $664,000. Handelsbanken Fonder AB lifted its stake in Cullen/Frost Bankers by 15.9% during the second quarter. Handelsbanken Fonder AB now owns 10,916 shares of the bank’s stock worth $1,174,000 after purchasing an additional 1,500 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Cullen/Frost Bankers by 75.3% during the second quarter. SG Americas Securities LLC now owns 10,707 shares of the bank’s stock worth $1,151,000 after purchasing an additional 4,599 shares during the last quarter. Hedge funds and other institutional investors own 81.39% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on CFR. Truist Financial dropped their target price on shares of Cullen/Frost Bankers from $113.00 to $97.00 and set a “hold” rating on the stock in a research report on Wednesday, September 27th. DA Davidson cut their target price on Cullen/Frost Bankers from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. Jefferies Financial Group decreased their target price on Cullen/Frost Bankers from $111.00 to $98.00 in a research report on Tuesday, October 10th. Morgan Stanley cut their price target on Cullen/Frost Bankers from $116.00 to $109.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 27th. Finally, Wedbush decreased their price objective on Cullen/Frost Bankers from $120.00 to $112.00 and set a “neutral” rating for the company in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus price target of $114.00.
Cullen/Frost Bankers Trading Up 0.2 %
Shares of CFR stock opened at $99.43 on Tuesday. The company has a market capitalization of $6.37 billion, a P/E ratio of 9.51, a price-to-earnings-growth ratio of 1.08 and a beta of 1.06. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $92.14 and its two-hundred day moving average is $100.04. Cullen/Frost Bankers, Inc. has a twelve month low of $82.25 and a twelve month high of $148.41.
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last released its earnings results on Thursday, October 26th. The bank reported $2.38 EPS for the quarter, topping the consensus estimate of $2.14 by $0.24. Cullen/Frost Bankers had a net margin of 26.78% and a return on equity of 22.13%. The company had revenue of $513.35 million during the quarter, compared to analysts’ expectations of $484.91 million. During the same quarter last year, the business earned $2.59 EPS. Equities analysts forecast that Cullen/Frost Bankers, Inc. will post 9.61 EPS for the current year.
Cullen/Frost Bankers Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 3.70%. The ex-dividend date is Wednesday, November 29th. Cullen/Frost Bankers’s payout ratio is 35.18%.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides 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; and treasury management services, as well as originates commercial leasing services.
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