Cullen/Frost Bankers, Inc. (NYSE:CFR) Director Carlos Alvarez purchased 54,000 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was bought at an average price of $93.71 per share, with a total value of $5,060,340.00. Following the completion of the transaction, the director now directly owns 386,500 shares of the company’s stock, valued at $36,218,915. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Cullen/Frost Bankers stock traded up $0.08 during mid-day trading on Tuesday, hitting $95.59. The company’s stock had a trading volume of 11,998 shares, compared to its average volume of 495,026. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 1.44 and a beta of 1.33. Cullen/Frost Bankers, Inc. has a 1 year low of $90.02 and a 1 year high of $121.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.63 and a current ratio of 0.63.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, October 25th. The bank reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $353.34 million during 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 period in the prior year, the business posted $1.41 earnings per share. Analysts forecast that Cullen/Frost Bankers, Inc. will post 6.8 EPS for the current year.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research report on Wednesday, July 18th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $118.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, July 27th. Morgan Stanley restated a “hold” rating and issued a $115.00 price target on shares of Cullen/Frost Bankers in a research report on Tuesday, September 18th. SunTrust Banks dropped their price target on Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating for the company in a research report on Monday. Finally, Stephens set a $101.00 price target on Cullen/Frost Bankers and gave the company a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $114.30.
A number of institutional investors have recently modified their holdings of CFR. Russell Investments Group Ltd. grew its position in Cullen/Frost Bankers by 20.5% in the first quarter. Russell Investments Group Ltd. now owns 20,335 shares of the bank’s stock worth $2,147,000 after acquiring an additional 3,459 shares during the period. Legal & General Group Plc grew its position in Cullen/Frost Bankers by 7.0% in the first quarter. Legal & General Group Plc now owns 79,424 shares of the bank’s stock worth $8,424,000 after acquiring an additional 5,195 shares during the period. Royal Bank of Canada grew its position in Cullen/Frost Bankers by 22.3% in the first quarter. Royal Bank of Canada now owns 94,545 shares of the bank’s stock worth $10,028,000 after acquiring an additional 17,209 shares during the period. CIBC World Markets Inc. purchased a new position in Cullen/Frost Bankers in the first quarter worth approximately $233,000. Finally, Clinton Group Inc. grew its position in Cullen/Frost Bankers by 12.3% in the second quarter. Clinton Group Inc. now owns 19,773 shares of the bank’s stock worth $2,140,000 after acquiring an additional 2,161 shares during the period. Institutional investors own 78.97% of the company’s stock.
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.
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