MetLife Investment Advisors LLC cut its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,390 shares of the bank’s stock after selling 592 shares during the quarter. MetLife Investment Advisors LLC owned 0.06% of Cullen/Frost Bankers worth $3,727,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Advisory Services Network LLC raised its stake in shares of Cullen/Frost Bankers by 2.9% in the first quarter. Advisory Services Network LLC now owns 6,666 shares of the bank’s stock worth $647,000 after purchasing an additional 186 shares during the last quarter. Diversified Trust Co bought a new position in Cullen/Frost Bankers during the first quarter valued at $214,000. First National Corp MA ADV grew its holdings in Cullen/Frost Bankers by 13.5% during the first quarter. First National Corp MA ADV now owns 1,685 shares of the bank’s stock valued at $750,000 after purchasing an additional 200 shares during the period. Hilton Capital Management LLC bought a new position in Cullen/Frost Bankers during the first quarter valued at $105,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Cullen/Frost Bankers by 2.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 203,074 shares of the bank’s stock valued at $19,712,000 after purchasing an additional 5,110 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.
Shares of CFR stock traded up $1.24 on Friday, reaching $93.86. The company’s stock had a trading volume of 315,554 shares, compared to its average volume of 279,331. The company has a 50 day simple moving average of $93.29. Cullen/Frost Bankers, Inc. has a 12-month low of $81.87 and a 12-month high of $116.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market cap of $5.92 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.42 and a beta of 1.33.
The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.71 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $2.84 dividend on an annualized basis and a yield of 3.03%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 41.16%.
CFR has been the subject of a number of analyst reports. Zacks Investment Research lowered GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Bank of America set a $97.00 price target on Merck & Co., Inc. and gave the stock a “buy” rating in a report on Thursday. Maxim Group set a $73.00 price target on Emcor Group and gave the stock a “hold” rating in a report on Friday, April 26th. Wedbush set a $100.00 price target on GrubHub and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Stephens set a $100.00 price target on Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $101.89.
In related news, Director Charles W. Matthews acquired 1,000 shares of Cullen/Frost Bankers stock in a transaction dated Monday, June 10th. The shares were purchased at an average cost of $94.32 per share, with a total value of $94,320.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at $282,960. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Phillip D. Green sold 14,210 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.91, for a total value of $1,448,141.10. Following the transaction, the chairman now directly owns 34,337 shares in the company, valued at $3,499,283.67. The disclosure for this sale can be found here. Company insiders own 4.84% of the company’s stock.
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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