Milestone Group Inc. trimmed its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,270 shares of the bank’s stock after selling 373 shares during the period. Cullen/Frost Bankers comprises about 0.4% of Milestone Group Inc.’s portfolio, making the stock its 28th largest position. Milestone Group Inc. owned approximately 0.05% of Cullen/Frost Bankers worth $3,230,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its position in Cullen/Frost Bankers by 9,679.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,249,329 shares of the bank’s stock worth $26,000 after buying an additional 2,226,329 shares during the last quarter. JOYN Advisors Inc. increased its holdings in shares of Cullen/Frost Bankers by 1,993.8% during the 4th quarter. JOYN Advisors Inc. now owns 335 shares of the bank’s stock valued at $29,000 after purchasing an additional 319 shares in the last quarter. Lindbrook Capital LLC purchased a new position in shares of Cullen/Frost Bankers during the 4th quarter valued at approximately $37,000. First Mercantile Trust Co. increased its holdings in shares of Cullen/Frost Bankers by 48.4% during the 4th quarter. First Mercantile Trust Co. now owns 460 shares of the bank’s stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new position in shares of Cullen/Frost Bankers during the 4th quarter valued at approximately $77,000. Institutional investors and hedge funds own 80.65% of the company’s stock.
CFR traded up $1.19 on Friday, hitting $96.49. The company had a trading volume of 198,600 shares, compared to its average volume of 293,427. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.07. The firm has a market cap of $6.29 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38. Cullen/Frost Bankers, Inc. has a 1 year low of $81.87 and a 1 year high of $118.89.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $1.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.04. The company had revenue of $367.96 million for the quarter, compared to analyst estimates of $366.47 million. Cullen/Frost Bankers had a net margin of 32.16% and a return on equity of 14.30%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 7.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.71 per share. The ex-dividend date is Thursday, May 30th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.67. This represents a $2.84 dividend on an annualized basis and a yield of 2.94%. Cullen/Frost Bankers’s dividend payout ratio is 38.84%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Wednesday, February 6th. Stephens set a $104.00 target price on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Friday, February 8th. Wedbush lifted their target price on shares of Cullen/Frost Bankers from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, Maxim Group reiterated a “buy” rating and set a $110.00 price target (down previously from $115.00) on shares of Cullen/Frost Bankers in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $102.89.
In other news, Chairman Phillip D. Green sold 14,210 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.91, for a total transaction of $1,448,141.10. Following the completion of the transaction, the chairman now directly owns 34,337 shares of the company’s stock, valued at $3,499,283.67. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jerry Salinas sold 12,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $100.98, for a total value of $1,211,760.00. Following the transaction, the chief financial officer now directly owns 24,856 shares of the company’s stock, valued at $2,509,958.88. The disclosure for this sale can be found here. 4.84% of the stock is owned by corporate insiders.
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Cullen/Frost Bankers Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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