JCSD Capital LLC lowered its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 27.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 20,000 shares of the bank’s stock after selling 7,500 shares during the quarter. Cullen/Frost Bankers accounts for 1.5% of JCSD Capital LLC’s holdings, making the stock its 24th biggest holding. JCSD Capital LLC’s holdings in Cullen/Frost Bankers were worth $2,121,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Cullen/Frost Bankers by 0.5% during the 4th quarter. BlackRock Inc. now owns 5,110,763 shares of the bank’s stock valued at $483,732,000 after acquiring an additional 27,545 shares during the period. Aristotle Capital Management LLC boosted its holdings in Cullen/Frost Bankers by 5.6% during the 4th quarter. Aristotle Capital Management LLC now owns 2,009,052 shares of the bank’s stock valued at $190,157,000 after acquiring an additional 107,173 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Cullen/Frost Bankers by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,000,321 shares of the bank’s stock valued at $94,681,000 after acquiring an additional 9,721 shares during the period. Champlain Investment Partners LLC boosted its holdings in Cullen/Frost Bankers by 1.5% during the 4th quarter. Champlain Investment Partners LLC now owns 895,935 shares of the bank’s stock valued at $84,800,000 after acquiring an additional 13,555 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Cullen/Frost Bankers by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 486,851 shares of the bank’s stock valued at $46,079,000 after acquiring an additional 16,587 shares during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CFR stock opened at $119.53 on Friday. Cullen/Frost Bankers, Inc. has a twelve month low of $117.86 and a twelve month high of $118.84. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.65 and a quick ratio of 0.65.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 26th. The bank reported $1.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.12. Cullen/Frost Bankers had a return on equity of 12.34% and a net margin of 30.40%. The business had revenue of $321.20 million during the quarter, compared to analysts’ expectations of $339.53 million. During the same period in the prior year, the business earned $1.28 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. equities analysts forecast that Cullen/Frost Bankers, Inc. will post 6.68 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.24%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.57. The ex-dividend date is Wednesday, May 30th. Cullen/Frost Bankers’s dividend payout ratio is currently 41.83%.
A number of research firms recently issued reports on CFR. Stephens restated a “hold” rating and set a $123.00 price objective on shares of Cullen/Frost Bankers in a report on Thursday, May 3rd. Deutsche Bank boosted their price objective on Cullen/Frost Bankers from $108.00 to $117.00 and gave the company a “hold” rating in a report on Friday, May 4th. Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating and set a $134.00 price objective for the company in a report on Tuesday, May 1st. Morgan Stanley boosted their price objective on Cullen/Frost Bankers from $107.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, April 30th. Finally, Barclays boosted their price objective on Cullen/Frost Bankers from $110.00 to $113.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Cullen/Frost Bankers currently has an average rating of “Hold” and an average price target of $110.89.
In related news, insider Paul Bracher sold 9,360 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $105.79, for a total transaction of $990,194.40. Following the completion of the sale, the insider now directly owns 87,724 shares in the company, valued at approximately $9,280,321.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Samuel G. Dawson acquired 859 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were bought at an average price of $116.47 per share, with a total value of $100,047.73. The disclosure for this purchase can be found here. Insiders acquired a total of 70,149 shares of company stock valued at $8,062,776 over the last quarter. Company insiders own 5.15% of the company’s stock.
Cullen/Frost Bankers Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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