Janus Henderson Group PLC lowered its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 56.5% during the first quarter, HoldingsChannel.com reports. The fund owned 2,648 shares of the bank’s stock after selling 3,446 shares during the quarter. Janus Henderson Group PLC’s holdings in Cullen/Frost Bankers were worth $257,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its stake in Cullen/Frost Bankers by 3.0% in the 3rd quarter. Vanguard Group Inc now owns 5,964,830 shares of the bank’s stock valued at $622,968,000 after buying an additional 171,180 shares in the last quarter. BlackRock Inc. lifted its stake in Cullen/Frost Bankers by 6.1% in the 4th quarter. BlackRock Inc. now owns 5,886,456 shares of the bank’s stock valued at $517,655,000 after buying an additional 340,001 shares in the last quarter. FMR LLC lifted its stake in Cullen/Frost Bankers by 0.9% in the 4th quarter. FMR LLC now owns 2,280,587 shares of the bank’s stock valued at $200,554,000 after buying an additional 20,968 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Cullen/Frost Bankers by 9,679.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,249,329 shares of the bank’s stock valued at $26,000 after buying an additional 2,226,329 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its stake in Cullen/Frost Bankers by 2.4% in the 4th quarter. King Luther Capital Management Corp now owns 2,188,784 shares of the bank’s stock valued at $192,482,000 after buying an additional 51,276 shares in the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.
Shares of Cullen/Frost Bankers stock opened at $95.30 on Friday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $81.87 and a fifty-two week high of $118.89. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.61 and a current ratio of 0.61.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 25th. The bank reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.04. The business had revenue of $367.96 million for the quarter, compared to analyst estimates of $366.47 million. Cullen/Frost Bankers had a return on equity of 14.30% and a net margin of 32.16%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company posted $1.61 EPS. Analysts expect that Cullen/Frost Bankers, Inc. will post 7.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.71 dividend. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.67. This represents a $2.84 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, May 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 38.84%.
A number of brokerages have weighed in on CFR. Zacks Investment Research raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Monday. Stephens set a $104.00 price target on Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Friday, February 8th. Wedbush increased their price target on Cullen/Frost Bankers from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, Maxim Group reissued a “buy” rating and set a $110.00 price target (down previously from $115.00) on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $102.89.
In related news, Chairman Phillip D. Green sold 14,210 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.91, for a total value of $1,448,141.10. Following the transaction, the chairman now directly owns 34,337 shares of the company’s stock, valued at approximately $3,499,283.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jerry Salinas sold 12,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $100.98, for a total value of $1,211,760.00. Following the completion of the transaction, the chief financial officer now directly owns 24,856 shares in the company, valued at $2,509,958.88. The disclosure for this sale can be found here. Company insiders own 4.84% of the company’s stock.
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. 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; commercial leasing; and treasury management services.
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