Todays Report: Today, Wells Fargo & Company MN Boosts Stake in Cullen/Frost Bankers Inc. (CFR)

Today, Wells Fargo & Company MN Boosts Stake in Cullen/Frost Bankers Inc. (CFR)

Wells Fargo & Company MN increased its position in Cullen/Frost Bankers Inc. (NYSE:CFR) by 6.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 250,132 shares of the company’s stock after buying an additional 15,888 shares during the period. Wells Fargo & Company MN owned approximately 0.40% of Cullen/Frost Bankers worth $17,995,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Creative Planning boosted its stake in Cullen/Frost Bankers by 112.3% in the second quarter. Creative Planning now owns 3,132 shares of the company’s stock valued at $200,000 after buying an additional 1,657 shares in the last quarter. Rench Wealth Management Inc. acquired a new stake in Cullen/Frost Bankers during the second quarter valued at approximately $204,000. LS Investment Advisors LLC boosted its stake in Cullen/Frost Bankers by 72.2% in the second quarter. LS Investment Advisors LLC now owns 3,267 shares of the company’s stock valued at $208,000 after buying an additional 1,370 shares in the last quarter. Fruth Investment Management acquired a new stake in Cullen/Frost Bankers during the second quarter valued at approximately $216,000. Finally, Fayez Sarofim & Co. acquired a new stake in Cullen/Frost Bankers during the second quarter valued at approximately $227,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Cullen/Frost Bankers Inc. (NYSE:CFR) traded up 0.81% during midday trading on Friday, hitting $83.02. The stock had a trading volume of 226,515 shares. The stock’s 50-day moving average is $77.15 and its 200-day moving average is $69.89. Cullen/Frost Bankers Inc. has a one year low of $42.41 and a one year high of $86.18. The company has a market cap of $5.23 billion, a P/E ratio of 19.30 and a beta of 1.15.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Wednesday, October 26th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. Cullen/Frost Bankers had a net margin of 25.06% and a return on equity of 9.61%. The company earned $317.78 million during the quarter, compared to analysts’ expectations of $301.04 million. During the same quarter in the previous year, the company posted $1.17 earnings per share. Cullen/Frost Bankers’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts predict that Cullen/Frost Bankers Inc. will post $4.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, November 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 50.00%.

Several research firms recently commented on CFR. RBC Capital Markets restated a “sector perform” rating and issued a $75.00 target price (up from $70.00) on shares of Cullen/Frost Bankers in a research report on Thursday, October 27th. Barclays PLC raised their target price on Cullen/Frost Bankers from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Thursday, July 28th. Maxim Group raised their target price on Cullen/Frost Bankers from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Royal Bank Of Canada raised their target price on Cullen/Frost Bankers from $63.00 to $70.00 and gave the company a “sector perform” rating in a research report on Thursday, July 28th. Finally, Keefe, Bruyette & Woods raised their target price on Cullen/Frost Bankers from $57.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.13.

In related news, insider Paul Bracher sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $75.13, for a total value of $976,690.00. Following the completion of the transaction, the insider now owns 91,254 shares in the company, valued at approximately $6,855,913.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack A. Wood sold 36,123 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $83.11, for a total transaction of $3,002,182.53. The disclosure for this sale can be found here. 8.03% of the stock is currently owned by insiders.

Cullen/Frost Bankers Company Profile

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