Gabelli Funds LLC Has $2.61 Million Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Gabelli Funds LLC lifted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,500 shares of the bank’s stock after buying an additional 1,500 shares during the period. Gabelli Funds LLC’s holdings in Cullen/Frost Bankers were worth $2,612,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Robinson Value Management Ltd. acquired a new position in shares of Cullen/Frost Bankers during the second quarter worth about $28,000. Quantamental Technologies LLC acquired a new position in Cullen/Frost Bankers during the second quarter valued at approximately $38,000. Usca Ria LLC acquired a new position in Cullen/Frost Bankers during the third quarter valued at approximately $43,000. Machina Capital S.A.S. acquired a new position in Cullen/Frost Bankers during the second quarter valued at approximately $47,000. Finally, Coastal Investment Advisors Inc. acquired a new position in Cullen/Frost Bankers during the second quarter valued at approximately $49,000. 80.39% of the stock is owned by institutional investors.

In other Cullen/Frost Bankers news, Director Carlos Alvarez acquired 30,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $85.08 per share, with a total value of $2,552,400.00. Following the completion of the transaction, the director now directly owns 454,000 shares in the company, valued at approximately $38,626,320. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Bracher sold 9,360 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $90.10, for a total value of $843,336.00. Following the completion of the sale, the insider now directly owns 86,743 shares of the company’s stock, valued at $7,815,544.30. The disclosure for this sale can be found here. Company insiders own 4.84% of the company’s stock.

Several research analysts recently commented on CFR shares. Wedbush cut Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $87.00 to $82.00 in a research report on Friday, November 1st. Piper Jaffray Companies set a $91.00 price target on Cullen/Frost Bankers and gave the company a “hold” rating in a research report on Friday, November 1st. Morgan Stanley reduced their price target on Cullen/Frost Bankers from $92.00 to $89.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Maxim Group reduced their price target on Cullen/Frost Bankers from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, ValuEngine raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $93.67.

NYSE CFR traded down $0.19 during trading hours on Friday, hitting $94.16. 241,913 shares of the company traded hands, compared to its average volume of 324,999. The business’s 50-day moving average is $89.43 and its 200-day moving average is $91.59. Cullen/Frost Bankers, Inc. has a twelve month low of $79.86 and a twelve month high of $106.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 1.46 and a beta of 1.37.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.04. Cullen/Frost Bankers had a return on equity of 13.11% and a net margin of 30.76%. The company had revenue of $365.84 million during the quarter, compared to analysts’ expectations of $364.56 million. During the same period last year, the firm posted $1.78 earnings per share. Analysts predict that Cullen/Frost Bankers, Inc. will post 6.85 EPS for the current year.

Cullen/Frost Bankers announced that its board has initiated a share buyback plan on Thursday, July 25th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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. 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.

Further Reading: Is it better to buy a fund with a higher or lower NAV?

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Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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