Key Points
- EVP Coolidge Rhodes Jr. sold 700 shares on Dec. 9 at an average price of $127, totaling $88,900, cutting his holding by 15.57% to 3,795 shares (≈$481,965).
- Cullen/Frost beat quarterly expectations with EPS of $2.67 vs. $2.38 consensus and revenue of $567.3M, reporting a 15.8% return on equity and a ~22% net margin.
- The bank declared a $1.00 quarterly dividend (annualized $4.00, ~3.1% yield) payable Dec. 15 with record/ex-dividend date Nov. 28; the shares trade near $130.54 and carry a consensus price target around $136.
Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) EVP Coolidge Rhodes, Jr. sold 700 shares of the business's stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $127.00, for a total value of $88,900.00. Following the completion of the sale, the executive vice president owned 3,795 shares in the company, valued at $481,965. This represents a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Cullen/Frost Bankers Price Performance
Shares of Cullen/Frost Bankers stock traded up $0.59 during trading hours on Thursday, reaching $130.54. The company's stock had a trading volume of 20,027 shares, compared to its average volume of 437,302. The firm has a 50 day moving average price of $124.48 and a 200-day moving average price of $127.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $8.35 billion, a P/E ratio of 13.43, a P/E/G ratio of 2.95 and a beta of 0.64. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $146.44.
Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The bank reported $2.67 EPS for the quarter, topping the consensus estimate of $2.38 by $0.29. Cullen/Frost Bankers had a return on equity of 15.84% and a net margin of 21.99%.The company had revenue of $567.27 million during the quarter, compared to analyst estimates of $565.54 million. During the same quarter last year, the business posted $2.24 earnings per share. On average, analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.
Cullen/Frost Bankers Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, November 28th. Cullen/Frost Bankers's dividend payout ratio is presently 41.15%.
Hedge Funds Weigh In On Cullen/Frost Bankers
Several hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in Cullen/Frost Bankers during the 2nd quarter valued at approximately $90,484,000. Two Sigma Investments LP grew its stake in Cullen/Frost Bankers by 2,024.4% during the 3rd quarter. Two Sigma Investments LP now owns 373,977 shares of the bank's stock valued at $47,409,000 after purchasing an additional 356,373 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Cullen/Frost Bankers by 58.7% in the second quarter. Impax Asset Management Group plc now owns 822,878 shares of the bank's stock valued at $104,861,000 after purchasing an additional 304,491 shares during the period. Fiera Capital Corp acquired a new position in shares of Cullen/Frost Bankers in the third quarter valued at about $29,769,000. Finally, Millennium Management LLC purchased a new position in shares of Cullen/Frost Bankers in the third quarter worth about $29,687,000. Institutional investors and hedge funds own 86.90% of the company's stock.
Analyst Upgrades and Downgrades
CFR has been the subject of several recent analyst reports. TD Cowen raised shares of Cullen/Frost Bankers to a "strong-buy" rating in a research note on Thursday, September 25th. Citigroup raised their target price on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the stock a "sell" rating in a report on Friday, October 31st. Evercore ISI lifted their price target on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cullen/Frost Bankers in a report on Monday. Finally, Cantor Fitzgerald started coverage on shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They set a "neutral" rating and a $138.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has an average rating of "Hold" and a consensus price target of $136.00.
Read Our Latest Stock Report on CFR
Cullen/Frost Bankers Company Profile
(
Get Free Report)
Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
