BB&T Corp raised its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 24.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,797 shares of the bank’s stock after acquiring an additional 2,298 shares during the quarter. BB&T Corp’s holdings in Cullen/Frost Bankers were worth $1,120,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in CFR. Principal Financial Group Inc. grew its position in shares of Cullen/Frost Bankers by 177.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,830,898 shares of the bank’s stock worth $171,940,000 after buying an additional 1,171,078 shares in the last quarter. Crawford Investment Counsel Inc. bought a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth $28,037,000. BlackRock Inc. grew its position in shares of Cullen/Frost Bankers by 3.9% during the 2nd quarter. BlackRock Inc. now owns 4,879,258 shares of the bank’s stock worth $458,211,000 after buying an additional 183,302 shares in the last quarter. Davis R M Inc. bought a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth $13,407,000. Finally, AQR Capital Management LLC grew its position in shares of Cullen/Frost Bankers by 484.3% during the 1st quarter. AQR Capital Management LLC now owns 148,868 shares of the bank’s stock worth $13,245,000 after buying an additional 123,391 shares in the last quarter. 80.71% of the stock is currently owned by institutional investors.
Shares of Cullen/Frost Bankers, Inc. (CFR) opened at 98.99 on Tuesday. The stock has a market capitalization of $6.36 billion, a PE ratio of 19.50 and a beta of 1.35. Cullen/Frost Bankers, Inc. has a 52 week low of $72.96 and a 52 week high of $103.37. The company’s 50 day moving average price is $94.51 and its 200-day moving average price is $92.40.
Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 26th. The bank reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.10. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. The firm had revenue of $300.83 million during the quarter, compared to analysts’ expectations of $329.62 million. During the same period in the previous year, the firm posted $1.24 EPS. Equities research analysts predict that Cullen/Frost Bankers, Inc. will post $5.28 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.57 per share. The ex-dividend date is Wednesday, November 29th. This represents a $2.28 annualized dividend and a yield of 2.30%. Cullen/Frost Bankers’s payout ratio is 43.35%.
Cullen/Frost Bankers declared that its board has initiated a stock buyback program on Thursday, October 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the bank to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
A number of equities analysts have recently issued reports on the company. Maxim Group reissued a “buy” rating and set a $105.00 price target on shares of Cullen/Frost Bankers in a research report on Thursday, July 27th. Zacks Investment Research downgraded Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. Royal Bank Of Canada reissued a “hold” rating and set a $100.00 price target on shares of Cullen/Frost Bankers in a research report on Friday. Raymond James Financial, Inc. downgraded Cullen/Frost Bankers from a “market perform” rating to an “underperform” rating in a research report on Thursday, August 10th. Finally, ValuEngine raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $100.46.
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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