Cullen/Frost Bankers, Inc. (CFR) Director Acquires $5,060,340.00 in Stock

Share on StockTwits

Cullen/Frost Bankers, Inc. (NYSE:CFR) Director Carlos Alvarez bought 54,000 shares of the business’s stock in a transaction on Friday, October 26th. The stock was bought at an average cost of $93.71 per share, for a total transaction of $5,060,340.00. Following the purchase, the director now directly owns 386,500 shares of the company’s stock, valued at approximately $36,218,915. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

NYSE CFR opened at $97.92 on Thursday. The stock has a market cap of $5.96 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.48 and a beta of 1.32. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers, Inc. has a one year low of $90.02 and a one year high of $121.66.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 25th. The bank reported $1.78 EPS for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.06. The company had revenue of $353.34 million for the quarter, compared to analyst estimates of $337.41 million. Cullen/Frost Bankers had a return on equity of 13.74% and a net margin of 32.11%. During the same quarter last year, the firm posted $1.41 earnings per share. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 6.82 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 49.17%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of Cullen/Frost Bankers by 5.7% during the second quarter. Bank of America Corp DE now owns 662,987 shares of the bank’s stock worth $71,762,000 after purchasing an additional 35,835 shares during the period. Twin Capital Management Inc. raised its position in shares of Cullen/Frost Bankers by 2.8% during the second quarter. Twin Capital Management Inc. now owns 33,750 shares of the bank’s stock worth $3,653,000 after purchasing an additional 930 shares during the period. Millennium Management LLC acquired a new stake in Cullen/Frost Bankers in the 2nd quarter valued at approximately $21,089,000. Envestnet Asset Management Inc. raised its position in Cullen/Frost Bankers by 3.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 25,518 shares of the bank’s stock valued at $2,762,000 after buying an additional 790 shares during the last quarter. Finally, WealthPLAN Partners LLC raised its position in Cullen/Frost Bankers by 25.0% in the 2nd quarter. WealthPLAN Partners LLC now owns 24,817 shares of the bank’s stock valued at $2,687,000 after buying an additional 4,961 shares during the last quarter. 78.97% of the stock is currently owned by institutional investors.

Several research firms have weighed in on CFR. ValuEngine lowered Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Zacks Investment Research lowered Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Stephens set a $101.00 target price on Cullen/Frost Bankers and gave the company a “hold” rating in a research note on Monday. SunTrust Banks cut their target price on Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Morgan Stanley reissued a “hold” rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a research note on Tuesday, September 18th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $116.89.

Cullen/Frost Bankers Company 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.

Read More: Technical Analysis of Stocks, How Can It Help

Insider Buying and Selling by Quarter for Cullen/Frost Bankers (NYSE:CFR)

Receive News & Ratings for Cullen/Frost Bankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply