Chicago Equity Partners LLC trimmed its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 70.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,760 shares of the bank’s stock after selling 6,620 shares during the period. Chicago Equity Partners LLC’s holdings in Cullen/Frost Bankers were worth $244,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of CFR. Amundi Pioneer Asset Management Inc. boosted its stake in Cullen/Frost Bankers by 5.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 76,879 shares of the bank’s stock worth $7,463,000 after purchasing an additional 3,960 shares during the period. WINTON GROUP Ltd acquired a new stake in Cullen/Frost Bankers during the 2nd quarter worth $205,000. First National Bank of Omaha boosted its stake in Cullen/Frost Bankers by 2.1% during the 2nd quarter. First National Bank of Omaha now owns 25,846 shares of the bank’s stock worth $2,421,000 after purchasing an additional 540 shares during the period. Diversified Trust Co boosted its stake in Cullen/Frost Bankers by 14.1% during the 2nd quarter. Diversified Trust Co now owns 2,510 shares of the bank’s stock worth $235,000 after purchasing an additional 310 shares during the period. Finally, Lawson Kroeker Investment Management Inc. NE acquired a new stake in Cullen/Frost Bankers during the 2nd quarter worth $5,971,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.
CFR stock opened at $94.16 on Friday. Cullen/Frost Bankers, Inc. has a one year low of $79.86 and a one year high of $106.23. The stock has a market capitalization of $5.95 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.46 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.62 and a current ratio of 0.62. The company has a fifty day moving average of $89.43 and a 200-day moving average of $91.59.
Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.04. Cullen/Frost Bankers had a net margin of 30.76% and a return on equity of 13.11%. The company had revenue of $365.84 million during the quarter, compared to analysts’ expectations of $364.56 million. During the same quarter last year, the business earned $1.78 EPS. Equities analysts forecast that Cullen/Frost Bankers, Inc. will post 6.85 earnings per share for the current fiscal year.
Cullen/Frost Bankers announced that its Board of Directors has approved a stock buyback plan on Thursday, July 25th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the bank to reacquire up to 1.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Paul Bracher sold 9,360 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $90.10, for a total value of $843,336.00. Following the completion of the sale, the insider now owns 86,743 shares in the company, valued at approximately $7,815,544.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos Alvarez bought 30,000 shares of Cullen/Frost Bankers stock in a transaction dated Friday, August 16th. The stock was purchased at an average price of $85.08 per share, with a total value of $2,552,400.00. Following the purchase, the director now directly owns 454,000 shares in the company, valued at approximately $38,626,320. The disclosure for this purchase can be found here. 4.84% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on CFR. SunTrust Banks decreased their price target on shares of Cullen/Frost Bankers from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, September 16th. ValuEngine upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Piper Jaffray Companies set a $91.00 price target on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Friday, November 1st. Morgan Stanley decreased their price target on shares of Cullen/Frost Bankers from $92.00 to $89.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Maxim Group decreased their price target on shares of Cullen/Frost Bankers from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $93.67.
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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