Smithfield Trust Co. reduced its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 15.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,600 shares of the bank’s stock after selling 300 shares during the period. Smithfield Trust Co.’s holdings in Cullen/Frost Bankers were worth $150,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in CFR. First Manhattan Co. raised its stake in Cullen/Frost Bankers by 11.8% in the first quarter. First Manhattan Co. now owns 64,353 shares of the bank’s stock valued at $4,629,000 after buying an additional 6,791 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Cullen/Frost Bankers by 1.2% in the first quarter. Retirement Systems of Alabama now owns 73,252 shares of the bank’s stock worth $6,517,000 after buying an additional 892 shares during the period. Sanders Morris Harris Inc. raised its stake in shares of Cullen/Frost Bankers by 1.3% in the first quarter. Sanders Morris Harris Inc. now owns 14,616 shares of the bank’s stock worth $1,300,000 after buying an additional 181 shares during the period. Ledyard National Bank raised its stake in shares of Cullen/Frost Bankers by 2.2% in the first quarter. Ledyard National Bank now owns 90,269 shares of the bank’s stock worth $8,031,000 after buying an additional 1,944 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Cullen/Frost Bankers by 5.7% in the first quarter. Nisa Investment Advisors LLC now owns 55,410 shares of the bank’s stock worth $4,930,000 after buying an additional 3,000 shares during the period. Institutional investors and hedge funds own 82.08% of the company’s stock.
Cullen/Frost Bankers, Inc. (NYSE:CFR) traded up 0.24% on Friday, reaching $85.22. 394,750 shares of the company’s stock were exchanged. Cullen/Frost Bankers, Inc. has a 12 month low of $67.86 and a 12 month high of $99.20. The firm has a 50-day moving average of $92.70 and a 200-day moving average of $91.83. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 16.79 and a beta of 1.32.
Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 27th. The bank reported $1.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.29. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. The business had revenue of $295.87 million for the quarter, compared to analysts’ expectations of $316.40 million. During the same period in the prior year, the business posted $1.11 earnings per share. On average, equities analysts expect that Cullen/Frost Bankers, Inc. will post $5.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.68%. The ex-dividend date is Tuesday, August 29th. Cullen/Frost Bankers’s payout ratio is presently 44.79%.
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A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a report on Tuesday, May 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 price target on shares of Cullen/Frost Bankers in a report on Friday, July 14th. BidaskClub lowered shares of Cullen/Frost Bankers from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Piper Jaffray Companies reissued a “hold” rating and issued a $100.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, July 28th. Finally, J P Morgan Chase & Co downgraded shares of Cullen/Frost Bankers from a “neutral” rating to an “underweight” rating and cut their target price for the company from $100.00 to $88.00 in a research note on Monday, July 31st. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus price target of $95.33.
About Cullen/Frost Bankers
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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