Cullen/Frost Bankers Inc. (CFR) Position Held by Lathrop Investment Management Corp
Lathrop Investment Management Corp continued to hold its stake in shares of Cullen/Frost Bankers Inc. (NYSE:CFR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 162,902 shares of the company’s stock at the end of the third quarter. Cullen/Frost Bankers makes up approximately 3.2% of Lathrop Investment Management Corp’s portfolio, making the stock its 21st largest position. Lathrop Investment Management Corp’s holdings in Cullen/Frost Bankers were worth $10,382,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of CFR. Bradley Foster & Sargent Inc. CT boosted its stake in shares of Cullen/Frost Bankers by 0.3% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 7,785 shares of the company’s stock valued at $496,000 after buying an additional 25 shares during the period. Creative Planning boosted its stake in shares of Cullen/Frost Bankers by 2.9% in the third quarter. Creative Planning now owns 3,224 shares of the company’s stock valued at $232,000 after buying an additional 92 shares during the period. State Treasurer State of Michigan boosted its stake in shares of Cullen/Frost Bankers by 0.5% in the second quarter. State Treasurer State of Michigan now owns 21,900 shares of the company’s stock valued at $1,396,000 after buying an additional 100 shares during the period. First Manhattan Co. boosted its stake in shares of Cullen/Frost Bankers by 0.3% in the second quarter. First Manhattan Co. now owns 64,353 shares of the company’s stock valued at $4,101,000 after buying an additional 200 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Cullen/Frost Bankers by 2.5% in the second quarter. Oppenheimer & Co. Inc. now owns 9,685 shares of the company’s stock valued at $617,000 after buying an additional 240 shares during the period. Institutional investors own 83.38% of the company’s stock.
Cullen/Frost Bankers Inc. (NYSE:CFR) traded up 0.04% during mid-day trading on Tuesday, reaching $80.87. The company had a trading volume of 201,834 shares. Cullen/Frost Bankers Inc. has a 12-month low of $42.41 and a 12-month high of $86.18. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 18.80 and a beta of 1.15. The firm has a 50-day moving average price of $77.40 and a 200 day moving average price of $70.15.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Wednesday, October 26th. The company reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.08. The company earned $317.78 million during the quarter, compared to the consensus estimate of $301.04 million. Cullen/Frost Bankers had a net margin of 25.06% and a return on equity of 9.61%. Cullen/Frost Bankers’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $1.17 EPS. Analysts expect that Cullen/Frost Bankers Inc. will post $4.62 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, November 28th. Cullen/Frost Bankers’s payout ratio is 50.00%.
Several equities research analysts recently issued reports on CFR shares. Macquarie upgraded Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating in a research note on Thursday, October 27th. Zacks Investment Research cut Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Royal Bank Of Canada boosted their price target on Cullen/Frost Bankers from $70.00 to $75.00 and gave the company a “sector perform” rating in a research note on Thursday, October 27th. Wedbush started coverage on Cullen/Frost Bankers in a research note on Thursday, October 6th. They issued a “neutral” rating and a $68.00 price target for the company. Finally, Jefferies Group reiterated a “hold” rating and issued a $72.00 price target on shares of Cullen/Frost Bankers in a research note on Tuesday, November 1st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $69.13.
In other Cullen/Frost Bankers news, Director Jack A. Wood sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $73.14, for a total value of $146,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Candace K. Wolfshohl sold 4,500 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $69.88, for a total transaction of $314,460.00. Following the completion of the transaction, the insider now directly owns 8,145 shares of the company’s stock, valued at $569,172.60. The disclosure for this sale can be found here. 8.03% of the stock is currently owned by company insiders.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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