Cullen/Frost Bankers, Inc. (NYSE:CFR) Director Carlos Alvarez Buys 30,000 Shares

Cullen/Frost Bankers, Inc. (NYSE:CFR) Director Carlos Alvarez purchased 30,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $38,626,320. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of CFR stock opened at $84.74 on Friday. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.28 and a beta of 1.33. The company’s 50 day moving average is $91.47 and its 200 day moving average is $97.14. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers, Inc. has a 52-week low of $81.74 and a 52-week high of $114.86.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.72 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.72. The company had revenue of $360.39 million for the quarter, compared to analyst estimates of $364.59 million. Cullen/Frost Bankers had a net margin of 31.57% and a return on equity of 13.85%. During the same period last year, the company posted $1.68 earnings per share. Analysts anticipate that Cullen/Frost Bankers, Inc. will post 6.85 EPS for the current fiscal year.



The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, August 29th. Cullen/Frost Bankers’s payout ratio is 41.16%.

Cullen/Frost Bankers declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 25th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 1.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Cullen/Frost Bankers by 0.7% in the second quarter. Vanguard Group Inc. now owns 6,589,137 shares of the bank’s stock worth $617,138,000 after purchasing an additional 46,481 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Cullen/Frost Bankers by 1.7% in the second quarter. JPMorgan Chase & Co. now owns 2,803,313 shares of the bank’s stock worth $260,092,000 after purchasing an additional 46,003 shares during the last quarter. Invesco Ltd. grew its holdings in Cullen/Frost Bankers by 4.9% in the second quarter. Invesco Ltd. now owns 2,631,373 shares of the bank’s stock worth $246,454,000 after purchasing an additional 122,087 shares during the last quarter. King Luther Capital Management Corp grew its holdings in Cullen/Frost Bankers by 1.5% in the first quarter. King Luther Capital Management Corp now owns 2,221,397 shares of the bank’s stock worth $215,631,000 after purchasing an additional 32,613 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Cullen/Frost Bankers by 3.3% in the first quarter. Principal Financial Group Inc. now owns 1,334,680 shares of the bank’s stock worth $129,558,000 after purchasing an additional 42,887 shares during the last quarter. 81.37% of the stock is currently owned by institutional investors.

CFR has been the subject of several research analyst reports. Wedbush lifted their price target on shares of Cullen/Frost Bankers from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Zacks Investment Research raised shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. Maxim Group reaffirmed a “buy” rating and set a $105.00 price target (down previously from $110.00) on shares of Cullen/Frost Bankers in a research note on Monday, July 29th. Piper Jaffray Companies set a $100.00 price objective on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a report on Friday, July 26th. Finally, ValuEngine raised shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $99.33.

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

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