Goldman Sachs Group Inc. increased its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 464,711 shares of the bank’s stock after purchasing an additional 4,841 shares during the period. Goldman Sachs Group Inc. owned 0.74% of Cullen/Frost Bankers worth $45,439,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Robinson Value Management Ltd. bought a new position in Cullen/Frost Bankers in the 4th quarter valued at approximately $29,000. Oppenheimer Asset Management Inc. increased its position in shares of Cullen/Frost Bankers by 298.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 390 shares of the bank’s stock worth $39,000 after buying an additional 292 shares during the period. Squar Milner Financial Services LLC increased its position in shares of Cullen/Frost Bankers by 43.6% during the fourth quarter. Squar Milner Financial Services LLC now owns 501 shares of the bank’s stock worth $48,000 after buying an additional 152 shares during the period. Americana Partners LLC acquired a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth $55,000. Finally, Allred Capital Management LLC acquired a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth $67,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.
A number of equities research analysts have commented on CFR shares. TheStreet cut shares of Cullen/Frost Bankers from a “b-” rating to a “c+” rating in a report on Monday, March 9th. SunTrust Banks cut shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating and reduced their price target for the stock from $104.00 to $80.00 in a report on Friday, March 6th. Evercore ISI cut shares of Cullen/Frost Bankers from an “in-line” rating to an “underperform” rating and set a $84.00 price target for the company. in a report on Friday, January 31st. Maxim Group restated a “buy” rating and issued a $100.00 price target on shares of Cullen/Frost Bankers in a report on Friday, January 31st. Finally, Morgan Stanley reduced their price target on shares of Cullen/Frost Bankers from $78.00 to $72.00 and set an “underweight” rating for the company in a report on Tuesday, March 17th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $86.63.
CFR opened at $54.32 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.63 and a quick ratio of 0.63. The company’s 50-day moving average is $76.71 and its 200 day moving average is $88.58. Cullen/Frost Bankers, Inc. has a fifty-two week low of $47.69 and a fifty-two week high of $104.53. The firm has a market capitalization of $3.35 billion, a P/E ratio of 7.94, a PEG ratio of 1.00 and a beta of 1.35.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, January 30th. The bank reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.03. Cullen/Frost Bankers had a net margin of 29.62% and a return on equity of 12.19%. The company had revenue of $370.29 million for the quarter, compared to analyst estimates of $364.56 million. During the same period last year, the firm earned $1.82 earnings per share. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 5.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 28th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend was Thursday, February 27th. Cullen/Frost Bankers’s payout ratio is currently 41.52%.
In other news, Director Chris Avery purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were bought at an average cost of $78.59 per share, with a total value of $235,770.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $392,950. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.84% of the stock is owned by company insiders.
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.
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