ING Groep NV Buys New Stake in Cullen/Frost Bankers, Inc. (CFR)
ING Groep NV bought a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 4th quarter, Holdings Channel reports. The firm bought 8,673 shares of the bank’s stock, valued at approximately $821,000.
Several other large investors have also made changes to their positions in the business. First National Bank of Omaha boosted its position in shares of Cullen/Frost Bankers by 14.1% during the fourth quarter. First National Bank of Omaha now owns 23,218 shares of the bank’s stock valued at $2,198,000 after buying an additional 2,872 shares during the period. Maltese Capital Management LLC raised its stake in shares of Cullen/Frost Bankers by 30.9% during the fourth quarter. Maltese Capital Management LLC now owns 153,510 shares of the bank’s stock valued at $14,530,000 after acquiring an additional 36,210 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Cullen/Frost Bankers by 225.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 5,830 shares of the bank’s stock valued at $552,000 after acquiring an additional 4,039 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $424,000. Finally, Comerica Bank raised its stake in shares of Cullen/Frost Bankers by 17.2% during the fourth quarter. Comerica Bank now owns 165,206 shares of the bank’s stock valued at $16,896,000 after acquiring an additional 24,214 shares in the last quarter. Institutional investors and hedge funds own 80.12% of the company’s stock.
CFR has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Citigroup raised shares of Cullen/Frost Bankers to a “market perform” rating in a research note on Friday, October 27th. Maxim Group reaffirmed a “buy” rating and set a $120.00 price target (up previously from $110.00) on shares of Cullen/Frost Bankers in a research note on Friday, January 26th. Raymond James Financial raised shares of Cullen/Frost Bankers from an “underperform” rating to a “market perform” rating in a research note on Friday, October 27th. Finally, Stephens set a $110.00 price target on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $104.19.
Cullen/Frost Bankers, Inc. (NYSE:CFR) opened at $107.91 on Thursday. The company has a market cap of $6,679.62, a P/E ratio of 19.25, a P/E/G ratio of 1.75 and a beta of 1.37. Cullen/Frost Bankers, Inc. has a 12 month low of $81.09 and a 12 month high of $108.77. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.07.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08. The company had revenue of $358.69 million during the quarter, compared to the consensus estimate of $351.34 million. Cullen/Frost Bankers had a net margin of 29.62% and a return on equity of 11.78%. Cullen/Frost Bankers’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 earnings per share. analysts forecast that Cullen/Frost Bankers, Inc. will post 6.32 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Tuesday, February 27th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 41.38%.
Cullen/Frost Bankers declared that its Board of Directors has approved a share repurchase program on Thursday, October 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the bank to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
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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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