Janney Montgomery Scott LLC raised its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 11,482 shares of the bank’s stock after acquiring an additional 692 shares during the period. Janney Montgomery Scott LLC’s holdings in Cullen/Frost Bankers were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Jefferies Group LLC boosted its stake in shares of Cullen/Frost Bankers by 129.8% in the third quarter. Jefferies Group LLC now owns 19,136 shares of the bank’s stock valued at $1,999,000 after buying an additional 10,808 shares in the last quarter. FDx Advisors Inc. raised its holdings in Cullen/Frost Bankers by 11.2% during the third quarter. FDx Advisors Inc. now owns 8,228 shares of the bank’s stock worth $859,000 after purchasing an additional 830 shares during the last quarter. AMP Capital Investors Ltd acquired a new position in Cullen/Frost Bankers during the third quarter worth $499,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Cullen/Frost Bankers by 7.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 40,724 shares of the bank’s stock worth $4,253,000 after acquiring an additional 2,969 shares during the last quarter. Finally, Credit Suisse AG raised its holdings in shares of Cullen/Frost Bankers by 11.4% in the third quarter. Credit Suisse AG now owns 60,049 shares of the bank’s stock worth $6,271,000 after acquiring an additional 6,145 shares during the last quarter. Institutional investors own 80.53% of the company’s stock.
CFR has been the subject of a number of analyst reports. Stephens set a $104.00 price target on Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Friday, February 8th. Zacks Investment Research cut Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Barclays reissued a “hold” rating and issued a $105.00 price target on shares of Cullen/Frost Bankers in a report on Friday, January 11th. SunTrust Banks cut their price target on Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating for the company in a report on Monday, October 29th. Finally, Morgan Stanley cut their price target on Cullen/Frost Bankers from $103.00 to $99.00 and set an “underweight” rating for the company in a report on Tuesday, December 11th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus target price of $107.44.
In other Cullen/Frost Bankers news, Director Cynthia Jane Comparin bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was purchased at an average cost of $93.38 per share, for a total transaction of $93,380.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $93,380. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Carol Jean Severyn sold 3,750 shares of the company’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $100.62, for a total value of $377,325.00. Following the completion of the transaction, the executive vice president now owns 1,250 shares of the company’s stock, valued at $125,775. The disclosure for this sale can be found here. Corporate insiders own 4.64% of the company’s stock.
NYSE CFR opened at $105.70 on Thursday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $81.87 and a fifty-two week high of $121.66. The firm has a market capitalization of $6.58 billion, a PE ratio of 15.32, a P/E/G ratio of 1.55 and a beta of 1.36. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.07.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, January 31st. The bank reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.07. Cullen/Frost Bankers had a return on equity of 14.38% and a net margin of 32.44%. The company had revenue of $360.93 million during the quarter, compared to analysts’ expectations of $344.18 million. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 7.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $2.68 annualized dividend and a yield of 2.54%. Cullen/Frost Bankers’s payout ratio is currently 38.84%.
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About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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