Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 12.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,411 shares of the bank’s stock after selling 600 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cullen/Frost Bankers were worth $611,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in CFR. Comerica Bank increased its stake in shares of Cullen/Frost Bankers by 2.1% during the 1st quarter. Comerica Bank now owns 28,413 shares of the bank’s stock worth $4,132,000 after purchasing an additional 580 shares during the last quarter. Swiss National Bank increased its position in Cullen/Frost Bankers by 7.4% in the first quarter. Swiss National Bank now owns 143,100 shares of the bank’s stock worth $19,806,000 after buying an additional 9,900 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Cullen/Frost Bankers by 0.5% in the first quarter. Arizona State Retirement System now owns 16,362 shares of the bank’s stock valued at $2,265,000 after buying an additional 87 shares during the period. Baillie Gifford & Co. lifted its position in shares of Cullen/Frost Bankers by 7.3% during the 1st quarter. Baillie Gifford & Co. now owns 292,820 shares of the bank’s stock valued at $40,530,000 after buying an additional 19,936 shares during the last quarter. Finally, WINTON GROUP Ltd grew its stake in shares of Cullen/Frost Bankers by 5.9% during the 4th quarter. WINTON GROUP Ltd now owns 13,004 shares of the bank’s stock worth $1,639,000 after acquiring an additional 721 shares during the period. Hedge funds and other institutional investors own 78.85% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. StockNews.com raised shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Compass Point raised shares of Cullen/Frost Bankers from a “neutral” rating to a “buy” rating and set a $152.00 price objective for the company in a report on Monday, August 15th. Stephens lifted their price objective on shares of Cullen/Frost Bankers from $133.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 2nd. Truist Financial dropped their target price on Cullen/Frost Bankers from $149.00 to $134.00 in a research report on Wednesday, June 15th. Finally, Jefferies Financial Group reduced their price target on Cullen/Frost Bankers from $156.00 to $124.00 in a research report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $139.75.
Cullen/Frost Bankers Price Performance
Cullen/Frost Bankers (NYSE:CFR – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The bank reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. Cullen/Frost Bankers had a return on equity of 11.13% and a net margin of 29.19%. During the same period in the previous year, the company posted $1.80 EPS. On average, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.05 EPS for the current fiscal year.
Cullen/Frost Bankers Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be issued a $0.87 dividend. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.62%. Cullen/Frost Bankers’s dividend payout ratio is presently 53.46%.
In related news, insider Patrick B. Frost sold 18,000 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $128.19, for a total value of $2,307,420.00. Following the completion of the transaction, the insider now directly owns 206,676 shares in the company, valued at $26,493,796.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Patrick B. Frost sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $128.19, for a total value of $2,307,420.00. Following the completion of the sale, the insider now owns 206,676 shares in the company, valued at approximately $26,493,796.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jerry Salinas sold 12,000 shares of the stock in a transaction that occurred 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 owns 27,792 shares in the company, valued at $3,724,961.76. The disclosure for this sale can be found here. Corporate insiders own 3.76% of the company’s stock.
Cullen/Frost Bankers Profile
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.
- Get a free copy of the StockNews.com research report on Cullen/Frost Bankers (CFR)
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