Crossmark Global Holdings Inc. acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the third quarter, according to its most recent filing with the SEC. The firm acquired 8,116 shares of the bank’s stock, valued at approximately $770,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parallax Volatility Advisers L.P. boosted its position in Cullen/Frost Bankers by 124.1% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock valued at $102,000 after buying an additional 602 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Cullen/Frost Bankers in the 2nd quarter valued at $114,000. Westwood Holdings Group Inc. bought a new position in Cullen/Frost Bankers in the 2nd quarter valued at $131,000. Fiduciary Trust Co. bought a new position in Cullen/Frost Bankers in the 2nd quarter valued at $136,000. Finally, Meeder Asset Management Inc. boosted its position in Cullen/Frost Bankers by 50.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock valued at $150,000 after buying an additional 531 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.
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Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) opened at $95.20 on Tuesday. The company has a market capitalization of $5,896.40, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.84 and a beta of 1.35. Cullen/Frost Bankers, Inc. has a 12 month low of $79.76 and a 12 month high of $103.37. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.65 and a current ratio of 0.65.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.10. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. The business had revenue of $300.83 million for the quarter, compared to the consensus estimate of $329.62 million. During the same quarter last year, the business posted $1.24 EPS. analysts expect that Cullen/Frost Bankers, Inc. will post 5.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is 43.35%.
Cullen/Frost Bankers announced that its board has initiated a stock buyback plan on Thursday, October 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the bank to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other Cullen/Frost Bankers news, insider Bobby Berman sold 41,760 shares of Cullen/Frost Bankers stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $100.53, for a total value of $4,198,132.80. Following the sale, the insider now owns 38,596 shares of the company’s stock, valued at approximately $3,880,055.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.15% of the company’s stock.
Several research firms have recently issued reports on CFR. Barclays PLC raised their price target on Cullen/Frost Bankers from $97.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, July 28th. Raymond James Financial, Inc. lowered Cullen/Frost Bankers from a “market perform” rating to an “underperform” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Citigroup Inc. lowered Cullen/Frost Bankers to an “underperform” rating in a research report on Thursday, August 10th. They noted that the move was a valuation call. Finally, Maxim Group restated a “buy” rating and issued a $105.00 price target on shares of Cullen/Frost Bankers in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $100.58.
Cullen/Frost Bankers 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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