Motco reduced its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 58.9% in the fourth quarter, HoldingsChannel reports. The fund owned 1,397 shares of the bank’s stock after selling 2,000 shares during the period. Motco’s holdings in Cullen/Frost Bankers were worth $137,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of CFR. Robinson Value Management Ltd. bought a new stake in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $29,000. Usca Ria LLC purchased a new stake in Cullen/Frost Bankers during the 3rd quarter valued at $43,000. Squar Milner Financial Services LLC boosted its stake in Cullen/Frost Bankers by 43.6% during the 4th quarter. Squar Milner Financial Services LLC now owns 501 shares of the bank’s stock valued at $48,000 after purchasing an additional 152 shares during the last quarter. Allred Capital Management LLC bought a new stake in shares of Cullen/Frost Bankers in the 4th quarter worth $67,000. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Cullen/Frost Bankers by 250.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 700 shares of the bank’s stock worth $68,000 after purchasing an additional 500 shares in the last quarter. 82.04% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Chris Avery bought 9,500 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were acquired at an average price of $92.49 per share, with a total value of $878,655.00. 4.84% of the stock is owned by corporate insiders.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, January 30th. The bank reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.03. The firm had revenue of $370.29 million for the quarter, compared to the consensus estimate of $364.56 million. Cullen/Frost Bankers had a net margin of 29.62% and a return on equity of 12.19%. During the same period last year, the firm earned $1.82 earnings per share. As a group, equities analysts predict that Cullen/Frost Bankers, Inc. will post 6.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.71 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.03%. Cullen/Frost Bankers’s dividend payout ratio is currently 41.52%.
A number of research analysts have recently issued reports on CFR shares. Piper Jaffray Companies set a $91.00 price target on Cullen/Frost Bankers and gave the company a “hold” rating in a report on Friday, November 1st. Wedbush downgraded Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $87.00 to $82.00 in a report on Friday, November 1st. Evercore ISI downgraded Cullen/Frost Bankers from an “in-line” rating to an “underperform” rating and set a $84.00 price objective for the company. in a report on Friday, January 31st. ValuEngine lowered Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Stephens lowered their target price on shares of Cullen/Frost Bankers from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $92.25.
About Cullen/Frost Bankers
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.
Further Reading: Are sell-side analysts objective?
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