Howland Capital Management LLC decreased its position in Cullen/Frost Bankers Inc. (NYSE:CFR) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,624 shares of the company’s stock after selling 1,080 shares during the period. Howland Capital Management LLC’s holdings in Cullen/Frost Bankers were worth $4,577,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Lord Abbett & CO. LLC purchased a new stake in Cullen/Frost Bankers during the second quarter worth $17,809,000. Vanguard Group Inc. raised its position in shares of Cullen/Frost Bankers by 4.8% in the second quarter. Vanguard Group Inc. now owns 4,153,968 shares of the company’s stock worth $264,732,000 after buying an additional 188,738 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $8,088,000. Coho Partners Ltd. raised its position in shares of Cullen/Frost Bankers by 9.2% in the second quarter. Coho Partners Ltd. now owns 856,209 shares of the company’s stock worth $54,566,000 after buying an additional 72,018 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of Cullen/Frost Bankers by 3.4% in the second quarter. BlackRock Fund Advisors now owns 1,925,953 shares of the company’s stock worth $122,741,000 after buying an additional 63,851 shares during the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.
Cullen/Frost Bankers Inc. (NYSE:CFR) traded down 1.99% during midday trading on Monday, hitting $80.84. 416,794 shares of the stock traded hands. The firm’s 50-day moving average is $77.15 and its 200-day moving average is $69.89. Cullen/Frost Bankers Inc. has a 52-week low of $42.41 and a 52-week high of $86.18. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 18.80 and a beta of 1.15.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Wednesday, October 26th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.08. The firm had revenue of $317.78 million for the quarter, compared to analysts’ expectations of $301.04 million. Cullen/Frost Bankers had a net margin of 25.06% and a return on equity of 9.61%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 earnings per share. Analysts predict that Cullen/Frost Bankers Inc. will post $4.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, November 28th. Cullen/Frost Bankers’s dividend payout ratio is presently 50.00%.
A number of brokerages have recently commented on CFR. Jefferies Group reissued a “hold” rating and issued a $72.00 price target on shares of Cullen/Frost Bankers in a report on Tuesday, November 1st. Zacks Investment Research raised shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. Royal Bank Of Canada increased their price target on shares of Cullen/Frost Bankers from $70.00 to $75.00 and gave the stock a “sector perform” rating in a report on Thursday, October 27th. RBC Capital Markets reissued a “sector perform” rating and issued a $75.00 price target (up previously from $70.00) on shares of Cullen/Frost Bankers in a report on Thursday, October 27th. Finally, Wedbush lowered shares of Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $72.00 to $78.00 in a report on Thursday, November 17th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $69.13.
In related news, insider Candace K. Wolfshohl sold 4,500 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $69.88, for a total value of $314,460.00. Following the sale, the insider now owns 8,145 shares in the company, valued at $569,172.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack A. Wood sold 2,000 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $73.14, for a total transaction of $146,280.00. The disclosure for this sale can be found here. 8.03% of the stock is currently owned by corporate insiders.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.