Sei Investments Co. Increases Position in Cullen/Frost Bankers, Inc. (CFR)
Sei Investments Co. increased its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,330 shares of the bank’s stock after buying an additional 1,310 shares during the period. Sei Investments Co.’s holdings in Cullen/Frost Bankers were worth $7,825,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CFR. Vanguard Group Inc. raised its position in shares of Cullen/Frost Bankers by 16.5% in the first quarter. Vanguard Group Inc. now owns 5,356,366 shares of the bank’s stock worth $476,557,000 after buying an additional 758,710 shares during the period. BlackRock Inc. raised its position in shares of Cullen/Frost Bankers by 3,918.0% in the first quarter. BlackRock Inc. now owns 4,695,956 shares of the bank’s stock worth $417,800,000 after buying an additional 4,579,082 shares during the period. Neuberger Berman Group LLC raised its position in shares of Cullen/Frost Bankers by 8.8% in the first quarter. Neuberger Berman Group LLC now owns 2,475,461 shares of the bank’s stock worth $220,242,000 after buying an additional 200,811 shares during the period. JPMorgan Chase & Co. raised its position in shares of Cullen/Frost Bankers by 0.6% in the first quarter. JPMorgan Chase & Co. now owns 1,951,679 shares of the bank’s stock worth $173,641,000 after buying an additional 12,321 shares during the period. Finally, Aristotle Capital Management LLC raised its position in shares of Cullen/Frost Bankers by 3.6% in the first quarter. Aristotle Capital Management LLC now owns 1,734,287 shares of the bank’s stock worth $154,299,000 after buying an additional 60,197 shares during the period. Institutional investors and hedge funds own 80.80% of the company’s stock.
Shares of Cullen/Frost Bankers, Inc. (CFR) opened at 86.61 on Friday. The stock’s 50 day moving average is $93.52 and its 200-day moving average is $92.01. Cullen/Frost Bankers, Inc. has a one year low of $67.86 and a one year high of $99.20. The company has a market cap of $5.56 billion, a P/E ratio of 17.06 and a beta of 1.32.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 EPS for the quarter, meeting the consensus estimate of $1.29. The company had revenue of $295.87 million during the quarter, compared to analysts’ expectations of $316.40 million. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. During the same quarter in the previous year, the company earned $1.11 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post $5.27 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, August 29th. This represents a $2.28 annualized dividend and a yield of 2.63%. Cullen/Frost Bankers’s dividend payout ratio is currently 44.79%.
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A number of research analysts recently commented on CFR shares. BidaskClub upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $93.00 price target (up previously from $90.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 6th. Barclays PLC upped their price target on shares of Cullen/Frost Bankers from $97.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, July 28th. Citigroup Inc. lowered shares of Cullen/Frost Bankers to an “underperform” rating in a research note on Thursday. They noted that the move was a valuation call. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Tuesday, July 4th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $95.33.
In other news, Director Graham M. Weston acquired 22,081 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average price of $90.56 per share, with a total value of $1,999,655.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.15% of the stock is currently owned by 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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