AQR Capital Management LLC lessened its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,309 shares of the bank’s stock after selling 2,967 shares during the period. AQR Capital Management LLC owned approximately 0.12% of Cullen/Frost Bankers worth $4,146,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Wealth Quarterback LLC acquired a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at approximately $22,989,911,000. Norges Bank purchased a new stake in shares of Cullen/Frost Bankers during the 4th quarter valued at $50,925,000. BlackRock Inc. raised its position in shares of Cullen/Frost Bankers by 7.6% during the 1st quarter. BlackRock Inc. now owns 6,054,374 shares of the bank’s stock valued at $337,773,000 after buying an additional 427,872 shares in the last quarter. Nuance Investments LLC purchased a new stake in shares of Cullen/Frost Bankers during the 1st quarter valued at $17,737,000. Finally, Champlain Investment Partners LLC raised its position in Cullen/Frost Bankers by 21.1% in the 1st quarter. Champlain Investment Partners LLC now owns 1,639,615 shares of the bank’s stock worth $91,474,000 after purchasing an additional 285,165 shares during the period. Institutional investors own 85.41% of the company’s stock.
In other news, CFO Jerry Salinas sold 9,661 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $78.29, for a total transaction of $756,359.69. Following the sale, the chief financial officer now owns 27,785 shares of the company’s stock, valued at approximately $2,175,287.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Graham M. Weston bought 29,400 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $68.00 per share, for a total transaction of $1,999,200.00. The disclosure for this purchase can be found here. Insiders own 4.75% of the company’s stock.
Shares of Cullen/Frost Bankers stock opened at $70.38 on Monday. The firm has a market cap of $4.40 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 3.46 and a beta of 1.64. Cullen/Frost Bankers, Inc. has a 12-month low of $47.69 and a 12-month high of $100.79. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $73.25 and its two-hundred day simple moving average is $78.70.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, April 30th. The bank reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.16). The firm had revenue of $481.37 million during the quarter, compared to the consensus estimate of $364.53 million. Cullen/Frost Bankers had a return on equity of 10.23% and a net margin of 23.89%. During the same period last year, the business earned $1.79 EPS. As a group, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 2.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, May 28th. Cullen/Frost Bankers’s payout ratio is 41.52%.
CFR has been the topic of a number of analyst reports. Compass Point initiated coverage on shares of Cullen/Frost Bankers in a research report on Tuesday, April 14th. They issued a “neutral” rating on the stock. SunTrust Banks lifted their target price on shares of Cullen/Frost Bankers from $64.00 to $78.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Cfra decreased their target price on shares of Cullen/Frost Bankers from $91.00 to $60.00 and set a “sell” rating on the stock in a research report on Monday, May 18th. Morgan Stanley lifted their target price on shares of Cullen/Frost Bankers from $63.00 to $65.00 and gave the stock an “underweight” rating in a research report on Monday, June 8th. Finally, TheStreet cut shares of Cullen/Frost Bankers from a “b-” rating to a “c+” rating in a research report on Monday, March 9th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus target price of $77.70.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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