Cullen/Frost Bankers, Inc. (NYSE:CFR) posted its quarterly earnings results on Wednesday. The company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.06. Cullen/Frost Bankers had a return on equity of 9.61% and a net margin of 25.06%.
Cullen/Frost Bankers (NYSE:CFR) traded up 1.70% during mid-day trading on Wednesday, hitting $92.06. The company had a trading volume of 509,825 shares. Cullen/Frost Bankers has a 12-month low of $42.62 and a 12-month high of $92.93. The company’s 50 day moving average price is $87.38 and its 200-day moving average price is $76.56. The firm has a market capitalization of $5.80 billion, a PE ratio of 21.40 and a beta of 1.20.
In other Cullen/Frost Bankers news, insider Paul Bracher sold 13,000 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $75.13, for a total transaction of $976,690.00. Following the sale, the insider now owns 91,254 shares of the company’s stock, valued at $6,855,913.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack A. Wood sold 187,000 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $82.89, for a total transaction of $15,500,430.00. The disclosure for this sale can be found here. Insiders sold 724,923 shares of company stock valued at $58,270,442 over the last 90 days. 8.03% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of CFR. Russell Investments Group Ltd. purchased a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth approximately $6,160,000. RGT Capital Management Ltd. purchased a new stake in shares of Cullen/Frost Bankers during the third quarter worth approximately $244,000. Brinker Capital Inc. purchased a new stake in shares of Cullen/Frost Bankers during the third quarter worth approximately $219,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Cullen/Frost Bankers by 7.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 22,175 shares of the company’s stock worth $1,595,000 after buying an additional 1,608 shares during the period. Finally, Mosaic Family Wealth LLC boosted its stake in shares of Cullen/Frost Bankers by 9.0% in the third quarter. Mosaic Family Wealth LLC now owns 1,594 shares of the company’s stock worth $115,000 after buying an additional 132 shares during the period. 83.25% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. Maxim Group raised their price target on Cullen/Frost Bankers from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 19th. RBC Capital Markets restated a “sector perform” rating and issued a $75.00 price target (up from $70.00) on shares of Cullen/Frost Bankers in a research report on Thursday, October 27th. SunTrust Banks, Inc. upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research report on Monday, December 19th. J P Morgan Chase & Co upgraded Cullen/Frost Bankers from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $67.00 to $95.00 in a research report on Thursday, January 5th. Finally, Wedbush raised their price target on Cullen/Frost Bankers from $78.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cullen/Frost Bankers presently has an average rating of “Hold” and an average target price of $78.77.
Cullen/Frost Bankers Company Profile
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.