Diversified Trust Co lessened its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 23.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,005 shares of the bank's stock after selling 900 shares during the quarter. Diversified Trust Co's holdings in Cullen/Frost Bankers were worth $350,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in shares of Cullen/Frost Bankers during the 1st quarter worth approximately $27,000. Holloway Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the 1st quarter valued at approximately $28,000. Covestor Ltd increased its stake in Cullen/Frost Bankers by 80.7% during the 1st quarter. Covestor Ltd now owns 309 shares of the bank's stock valued at $43,000 after purchasing an additional 138 shares in the last quarter. Tcwp LLC acquired a new position in Cullen/Frost Bankers during the 1st quarter valued at approximately $46,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Cullen/Frost Bankers during the 1st quarter valued at approximately $107,000. Institutional investors own 78.85% of the company's stock.
Get Cullen/Frost Bankers alerts:Wall Street Analyst Weigh In
A number of brokerages have issued reports on CFR. Compass Point upgraded shares of Cullen/Frost Bankers from a "neutral" rating to a "buy" rating and set a $152.00 price target on the stock in a research note on Monday, August 15th. Jefferies Financial Group cut their price target on shares of Cullen/Frost Bankers from $156.00 to $124.00 in a research note on Monday, July 11th. JPMorgan Chase & Co. upgraded shares of Cullen/Frost Bankers from an "underweight" rating to an "overweight" rating and increased their price objective for the stock from $143.00 to $155.00 in a research note on Wednesday, June 15th. Raymond James cut their price objective on shares of Cullen/Frost Bankers from $160.00 to $145.00 and set an "outperform" rating on the stock in a research note on Thursday, July 7th. Finally, Stephens increased their price objective on shares of Cullen/Frost Bankers from $133.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $141.08.
Cullen/Frost Bankers Stock Performance
Shares of NYSE CFR opened at $136.20 on Friday. The company's fifty day moving average price is $133.55 and its 200 day moving average price is $130.65. Cullen/Frost Bankers, Inc. has a 1 year low of $112.67 and a 1 year high of $147.39. The company has a market capitalization of $8.73 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.65 and a current ratio of 0.65.Cullen/Frost Bankers (NYSE:CFR – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The bank reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Cullen/Frost Bankers had a net margin of 29.19% and a return on equity of 11.13%. During the same quarter in the prior year, the firm earned $1.80 EPS. On average, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.09 earnings per share for the current year.
Cullen/Frost Bankers Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.56%. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, August 30th. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 53.46%.
Insider Buying and Selling at Cullen/Frost Bankers
In other Cullen/Frost Bankers news, insider Patrick B. Frost sold 18,000 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $128.19, for a total transaction of $2,307,420.00. Following the transaction, the insider now directly owns 206,676 shares of the company's stock, valued at $26,493,796.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cullen/Frost Bankers news, CFO Jerry Salinas sold 12,000 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $134.03, for a total transaction of $1,608,360.00. Following the transaction, the chief financial officer now directly owns 27,792 shares of the company's stock, valued at $3,724,961.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Patrick B. Frost sold 18,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $128.19, for a total transaction of $2,307,420.00. Following the completion of the sale, the insider now owns 206,676 shares of the company's stock, valued at $26,493,796.44. The disclosure for this sale can be found here. Insiders own 3.76% of the company's stock.
Cullen/Frost Bankers Company Profile
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Cullen/Frost Bankers, Inc operates as the bank 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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