Cullen/Frost Bankers, Inc. (NYSE:CFR)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $89.18 and last traded at $89.77, with a volume of 26862 shares traded. The stock had previously closed at $92.10.
A number of equities analysts recently commented on CFR shares. SunTrust Banks reduced their price target on Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating for the company in a report on Monday, October 29th. Morgan Stanley reiterated a “hold” rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a report on Tuesday, September 18th. Stephens set a $101.00 price target on Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Monday, October 29th. Finally, ValuEngine cut Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $115.11.
The firm has a market capitalization of $5.89 billion, a PE ratio of 16.43, a P/E/G ratio of 1.42 and a beta of 1.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.63 and a quick ratio of 0.63.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Friday, November 30th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Thursday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 49.17%.
In other news, Director Cynthia Jane Comparin acquired 1,000 shares of Cullen/Frost Bankers stock in a transaction dated Friday, December 14th. The stock was bought at an average price of $93.38 per share, for a total transaction of $93,380.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $93,380. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Samuel G. Dawson acquired 3,441 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, November 7th. The shares were purchased at an average price of $101.63 per share, with a total value of $349,708.83. Following the acquisition, the director now owns 4,300 shares of the company’s stock, valued at $437,009. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 58,441 shares of company stock valued at $5,503,429. Corporate insiders own 4.64% of the company’s stock.
Several large investors have recently modified their holdings of the company. Alps Advisors Inc. boosted its stake in shares of Cullen/Frost Bankers by 20.8% in the second quarter. Alps Advisors Inc. now owns 5,288 shares of the bank’s stock valued at $501,000 after buying an additional 910 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cullen/Frost Bankers in the second quarter valued at approximately $498,000. Victory Capital Management Inc. boosted its stake in shares of Cullen/Frost Bankers by 13.4% in the second quarter. Victory Capital Management Inc. now owns 29,813 shares of the bank’s stock valued at $3,227,000 after buying an additional 3,516 shares during the period. Sei Investments Co. boosted its stake in shares of Cullen/Frost Bankers by 7.8% in the second quarter. Sei Investments Co. now owns 91,766 shares of the bank’s stock valued at $9,932,000 after buying an additional 6,639 shares during the period. Finally, Strs Ohio bought a new stake in shares of Cullen/Frost Bankers in the second quarter valued at approximately $338,000. Institutional investors own 78.50% of the company’s stock.
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Cullen/Frost Bankers Company Profile (NYSE:CFR)
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.
Further Reading: How To Calculate Debt-to-Equity Ratio
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