Leavell Investment Management Inc. Has $568,000 Position in Cullen/Frost Bankers, Inc. (CFR)
Leavell Investment Management Inc. grew its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 50.0% in the fourth quarter, HoldingsChannel reports. The firm owned 6,000 shares of the bank’s stock after buying an additional 2,000 shares during the quarter. Leavell Investment Management Inc.’s holdings in Cullen/Frost Bankers were worth $568,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. Citigroup Inc. increased its holdings in shares of Cullen/Frost Bankers by 5.2% in the 2nd quarter. Citigroup Inc. now owns 4,059 shares of the bank’s stock worth $381,000 after purchasing an additional 199 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Cullen/Frost Bankers by 0.6% in the 2nd quarter. Alliancebernstein L.P. now owns 33,537 shares of the bank’s stock worth $3,149,000 after purchasing an additional 200 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Cullen/Frost Bankers by 0.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 50,280 shares of the bank’s stock worth $4,721,000 after purchasing an additional 298 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Cullen/Frost Bankers by 50.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock worth $150,000 after purchasing an additional 531 shares in the last quarter. Finally, Beacon Financial Group increased its holdings in shares of Cullen/Frost Bankers by 0.6% in the 3rd quarter. Beacon Financial Group now owns 91,822 shares of the bank’s stock worth $8,716,000 after purchasing an additional 564 shares in the last quarter. 80.97% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on CFR. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a report on Wednesday. Royal Bank of Canada reissued a “hold” rating and issued a $100.00 target price on shares of Cullen/Frost Bankers in a report on Friday, October 27th. Maxim Group reissued a “buy” rating and issued a $110.00 target price on shares of Cullen/Frost Bankers in a report on Thursday, October 26th. Citigroup raised Cullen/Frost Bankers to a “market perform” rating in a report on Friday, October 27th. Finally, SunTrust Banks reissued a “buy” rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $102.19.
Shares of Cullen/Frost Bankers, Inc. (CFR) opened at $100.90 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.08. Cullen/Frost Bankers, Inc. has a fifty-two week low of $81.09 and a fifty-two week high of $103.37. The company has a market capitalization of $6,387.83, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.74 and a beta of 1.33.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.10. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. The company had revenue of $300.83 million during the quarter, compared to analyst estimates of $329.62 million. During the same quarter in the previous year, the company posted $1.24 earnings per share. analysts forecast that Cullen/Frost Bankers, Inc. will post 5.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Wednesday, November 29th. Cullen/Frost Bankers’s payout ratio is currently 43.35%.
Cullen/Frost Bankers declared that its board has authorized a stock buyback plan on Thursday, October 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, insider Candace K. Wolfshohl sold 7,000 shares of Cullen/Frost Bankers stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $94.99, for a total value of $664,930.00. Following the completion of the sale, the insider now owns 9,145 shares of the company’s stock, valued at $868,683.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bobby Berman sold 41,760 shares of Cullen/Frost Bankers stock in a transaction on Friday, October 27th. The stock was sold at an average price of $100.53, for a total value of $4,198,132.80. Following the completion of the sale, the insider now directly owns 38,596 shares of the company’s stock, valued at approximately $3,880,055.88. The disclosure for this sale can be found here. Insiders sold 60,760 shares of company stock valued at $6,058,863 in the last ninety days. 5.15% of the stock is currently owned by corporate insiders.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
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