Key Points
- Insider Paul Bracher sold 2,900 Cullen/Frost shares at an average price of $158.24, totaling $458,896. He retained 108,736 shares after the sale, a 2.6% reduction in his holdings.
- Cullen/Frost reported quarterly EPS of $2.84, beating the $2.80 consensus, while revenue of $603.83 million fell short of analysts’ $610.19 million estimate.
- The bank announced a quarterly dividend of $1.03 per share, equivalent to $4.12 annually and a 2.6% yield. Analysts’ consensus rating was Hold, with an average price target of $171.55.
Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) insider Paul Bracher sold 2,900 shares of the company's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $158.24, for a total value of $458,896.00. Following the completion of the transaction, the insider directly owned 108,736 shares of the company's stock, valued at $17,206,384.64. The trade was a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Cullen/Frost Bankers Stock Performance
Shares of CFR stock opened at $158.02 on Tuesday. The company has a market capitalization of $9.83 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.71 and a beta of 0.52. The business's 50 day moving average is $157.19 and its two-hundred day moving average is $149.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12-month low of $119.14 and a 12-month high of $170.80.
Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The bank reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The business had revenue of $603.83 million during the quarter, compared to analysts' expectations of $610.19 million. Cullen/Frost Bankers had a return on equity of 16.27% and a net margin of 23.37%. During the same period in the previous year, the business earned $2.67 earnings per share. Analysts expect that Cullen/Frost Bankers, Inc. will post 11.00 EPS for the current fiscal year.
Cullen/Frost Bankers Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $1.03 per share. The ex-dividend date is Monday, November 30th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. Cullen/Frost Bankers's dividend payout ratio (DPR) is 38.33%.
Hedge Funds Weigh In On Cullen/Frost Bankers
Hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. raised its stake in Cullen/Frost Bankers by 3.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,837 shares of the bank's stock valued at $433,000 after purchasing an additional 103 shares during the last quarter. Virtus Advisers LLC boosted its stake in Cullen/Frost Bankers by 16.1% during the 3rd quarter. Virtus Advisers LLC now owns 5,953 shares of the bank's stock worth $909,000 after purchasing an additional 827 shares during the last quarter. R Squared Ltd acquired a new stake in Cullen/Frost Bankers during the 3rd quarter worth $216,000. Maryland State Retirement & Pension System grew its holdings in shares of Cullen/Frost Bankers by 12.6% during the third quarter. Maryland State Retirement & Pension System now owns 3,492 shares of the bank's stock worth $533,000 after buying an additional 392 shares in the last quarter. Finally, Jacobi Capital Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the third quarter worth $163,000. Institutional investors and hedge funds own 86.90% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on CFR. Keefe, Bruyette & Woods cut shares of Cullen/Frost Bankers from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $180.00 to $175.00 in a research note on Monday, November 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Cullen/Frost Bankers in a research report on Tuesday, October 13th. Zacks Research downgraded shares of Cullen/Frost Bankers from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 3rd. Barclays lifted their target price on shares of Cullen/Frost Bankers from $160.00 to $175.00 and gave the company an "equal weight" rating in a research report on Monday, October 5th. Finally, Wall Street Zen upgraded shares of Cullen/Frost Bankers from a "sell" rating to a "hold" rating in a research report on Saturday, October 31st. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $171.55.
Check Out Our Latest Stock Analysis on CFR
Cullen/Frost Bankers Company Profile
(
Get Free Report)
Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and other financial services to individuals and businesses.
Frost Bank's services include consumer and commercial banking, lending, treasury management, and wealth management, including trust and investment services. The company primarily serves customers across Texas through its branches and digital banking channels.
The company traces its roots to 1868, when Thomas Claiborne Frost established a mercantile business in San Antonio; banking became part of the business later in the 19th century.
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