Suntrust Banks Inc. Takes $1.19 Million Position in Cullen/Frost Bankers, Inc. (CFR)
Suntrust Banks Inc. acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,733 shares of the bank’s stock, valued at approximately $1,194,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Invictus RG purchased a new position in Cullen/Frost Bankers during the first quarter worth about $109,000. Fiduciary Trust Co. acquired a new position in Cullen/Frost Bankers in the 2nd quarter valued at about $136,000. Mosaic Family Wealth LLC boosted its holdings in Cullen/Frost Bankers by 4.9% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,718 shares of the bank’s stock valued at $161,000 after purchasing an additional 80 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Cullen/Frost Bankers by 6.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 1,791 shares of the bank’s stock valued at $168,000 after purchasing an additional 107 shares during the last quarter. Finally, Denver Investment Advisors LLC acquired a new position in Cullen/Frost Bankers in the 2nd quarter valued at about $200,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.
Shares of Cullen/Frost Bankers, Inc. (CFR) opened at 95.26 on Wednesday. The stock has a 50 day moving average price of $88.02 and a 200-day moving average price of $91.04. The firm has a market capitalization of $6.07 billion, a PE ratio of 20.25 and a beta of 1.35. Cullen/Frost Bankers, Inc. has a 52 week low of $69.86 and a 52 week high of $99.20.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.29. The company had revenue of $295.87 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.11 earnings per share. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post $5.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.57 per share. The ex-dividend date was Tuesday, August 29th. This represents a $2.28 annualized dividend and a dividend yield of 2.39%. Cullen/Frost Bankers’s dividend payout ratio is presently 44.79%.
CFR has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $96.50 price target on shares of Cullen/Frost Bankers in a research report on Friday, September 1st. Zacks Investment Research cut Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 13th. BidaskClub cut Cullen/Frost Bankers from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, July 14th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. Cullen/Frost Bankers currently has an average rating of “Hold” and an average target price of $95.13.
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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