South Texas Money Management Ltd. reduced its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 18.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,134 shares of the bank’s stock after selling 965 shares during the quarter. South Texas Money Management Ltd.’s holdings in Cullen/Frost Bankers were worth $401,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its position in shares of Cullen/Frost Bankers by 9,679.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,249,329 shares of the bank’s stock valued at $26,000 after purchasing an additional 2,226,329 shares during the period. JOYN Advisors Inc. grew its position in shares of Cullen/Frost Bankers by 1,993.8% in 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 during the period. Lindbrook Capital LLC acquired a new position in shares of Cullen/Frost Bankers in the 4th quarter valued at approximately $37,000. First Mercantile Trust Co. grew its position in shares of Cullen/Frost Bankers by 48.4% in 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 during the period. Finally, Toronto Dominion Bank acquired a new position in shares of Cullen/Frost Bankers in the 4th quarter valued at approximately $77,000. Institutional investors own 81.23% of the company’s stock.
Several equities analysts recently issued reports on CFR shares. Bank of America lowered Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and set a $96.00 price objective for the company. in a research report on Thursday, January 10th. Barclays reiterated a “hold” rating and issued a $105.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, January 11th. Zacks Investment Research lowered Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Finally, Stephens set a $104.00 price objective on Cullen/Frost Bankers and gave the company a “hold” rating in a research report on Friday, February 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $107.44.
Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, January 31st. The bank reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.07. The firm had revenue of $360.93 million for the quarter, compared to analysts’ expectations of $344.18 million. Cullen/Frost Bankers had a return on equity of 14.38% and a net margin of 32.44%. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 7.11 EPS for the current year.
In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $100.62, for a total value of $377,325.00. Following the sale, the executive vice president now owns 1,250 shares in the company, valued at approximately $125,775. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.84% of the company’s stock.
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Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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