Teachers Advisors LLC boosted its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 73,324 shares of the bank’s stock after buying an additional 2,879 shares during the period. Teachers Advisors LLC owned approximately 0.11% of Cullen/Frost Bankers worth $6,524,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of CFR. Neuberger Berman Group LLC boosted its stake in Cullen/Frost Bankers by 8.8% in the first quarter. Neuberger Berman Group LLC now owns 2,475,461 shares of the bank’s stock worth $220,242,000 after buying an additional 200,811 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Cullen/Frost Bankers by 0.6% in the first quarter. JPMorgan Chase & Co. now owns 1,951,679 shares of the bank’s stock worth $173,641,000 after buying an additional 12,321 shares during the last quarter. Edge Asset Management Inc. increased its position in shares of Cullen/Frost Bankers by 1.0% in the first quarter. Edge Asset Management Inc. now owns 863,759 shares of the bank’s stock worth $76,849,000 after buying an additional 8,815 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Cullen/Frost Bankers by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 757,585 shares of the bank’s stock worth $67,402,000 after buying an additional 44,811 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Cullen/Frost Bankers by 2.2% in the first quarter. Wellington Management Group LLP now owns 669,704 shares of the bank’s stock worth $59,583,000 after buying an additional 14,281 shares during the last quarter. 82.08% of the stock is currently owned by institutional investors.
Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) opened at 85.22 on Friday. The company 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, Inc. has a 12 month low of $67.86 and a 12 month high of $99.20. The firm’s 50-day moving average price is $92.70 and its 200-day moving average price is $91.83.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.29. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. The business had revenue of $295.87 million during the quarter, compared to the consensus estimate of $316.40 million. During the same quarter in the prior year, the firm earned $1.11 EPS. Equities research analysts expect that Cullen/Frost Bankers, Inc. will post $5.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Tuesday, August 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 44.79%.
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A number of research firms have weighed in on CFR. Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday, June 13th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $99.00 target price (up previously from $93.00) on shares of Cullen/Frost Bankers in a research report on Thursday, April 27th. Stephens set a $97.00 target price on Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Thursday, July 27th. Maxim Group reiterated a “buy” rating and set a $105.00 target price on shares of Cullen/Frost Bankers in a research report on Thursday, July 27th. Finally, BidaskClub upgraded Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus target price of $95.33.
Cullen/Frost Bankers Company Profile
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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