Cullen/Frost Bankers Inc. (CFR) Stake Raised by Callahan Advisors LLC
Callahan Advisors LLC boosted its position in Cullen/Frost Bankers Inc. (NYSE:CFR) by 9.5% during the third quarter, Holdings Channel reports. The institutional investor owned 17,278 shares of the company’s stock after buying an additional 1,501 shares during the period. Callahan Advisors LLC’s holdings in Cullen/Frost Bankers were worth $1,243,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of CFR. Creative Planning raised its position in shares of Cullen/Frost Bankers by 112.3% in the second quarter. Creative Planning now owns 3,132 shares of the company’s stock worth $200,000 after buying an additional 1,657 shares in the last quarter. Rench Wealth Management Inc. purchased a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $204,000. LS Investment Advisors LLC raised its position in shares of Cullen/Frost Bankers by 72.2% in the second quarter. LS Investment Advisors LLC now owns 3,267 shares of the company’s stock worth $208,000 after buying an additional 1,370 shares in the last quarter. Fruth Investment Management purchased a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $216,000. Finally, Fayez Sarofim & Co. purchased a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $227,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.
Cullen/Frost Bankers Inc. (NYSE:CFR) traded down 0.37% on Tuesday, reaching $80.54. 393,209 shares of the company’s stock traded hands. Cullen/Frost Bankers Inc. has a 52-week low of $42.41 and a 52-week high of $86.18. The firm’s 50-day moving average is $77.40 and its 200 day moving average is $70.15. The stock has a market capitalization of $5.07 billion, a PE ratio of 18.73 and a beta of 1.15.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. Cullen/Frost Bankers had a net margin of 25.06% and a return on equity of 9.61%. The firm earned $317.78 million during the quarter, compared to the consensus estimate of $301.04 million. During the same period in the prior year, the firm earned $1.17 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Analysts forecast that Cullen/Frost Bankers Inc. will post $4.62 EPS for the current year.
The business 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 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Monday, November 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 50.00%.
A number of equities analysts have commented on CFR shares. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Monday, October 3rd. Jefferies Group restated a “hold” rating and issued a $72.00 target price on shares of Cullen/Frost Bankers in a research note on Tuesday, November 1st. Deutsche Bank AG upped their target price on shares of Cullen/Frost Bankers from $66.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, October 11th. Macquarie upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating in a research note on Thursday, October 27th. Finally, Wedbush started coverage on shares of Cullen/Frost Bankers in a research note on Thursday, October 6th. They issued a “neutral” rating and a $68.00 target price on the stock. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus price target of $69.13.
In other Cullen/Frost Bankers news, insider Candace K. Wolfshohl sold 4,500 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $69.88, for a total value of $314,460.00. Following the completion of the sale, the insider now directly owns 8,145 shares of the company’s stock, valued at approximately $569,172.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul Bracher sold 13,000 shares of the stock in a transaction on Friday, October 28th. The shares were sold at an average price of $75.13, for a total transaction of $976,690.00. Following the completion of the sale, the insider now directly owns 91,254 shares of the company’s stock, valued at $6,855,913.02. 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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