The Vanguard Group, Inc. recently announced the acquisition of new stake in Cullen/Frost Bankers Inc. (NYSE:CFR). The institutional investor has increased its shareholding in the Financial company by 3.87% to 6.17 million shares with purchase of 0.23 million shares. This fresh investment now brings its stake to 9.60% valued currently at $825.22 million. In addition, BlackRock Fund Advisors raised its holdings by 0.35 million to 4.94 million shares. And SSgA Funds Management, Inc. has lifted its position by 11.03% or 0.42 million shares – to 4.22 million shares.
With over 0.28 million Cullen/Frost Bankers Inc. (CFR) shares trading Friday and a closing price of $137.09 on the day, the dollar volume was approximately $38.68 million. The shares have shown a positive half year performance of 14.53% and its price on 01/13/23 gained nearly 1.57%. Currently, there are 64.16M common shares owned by the public and among those 58.05M shares have been available to trade.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our
5 Best Growth Stocks To Own For 2023.
Sponsored
Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 77,108 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 26,670 shares.
The top 3 mutual fund holders in Cullen/Frost Bankers Inc. are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Vanguard Windsor Funds – Vanguard. iShares Core S&P Mid Cap ETF owns 1.98 million shares of the company’s stock, all valued at over $265.23 million. The company sold 378.0 shares recently to bring their total holdings to about 3.09% of the shares outstanding. Vanguard Total Stock Market Index bought 1575.0 shares to see its total holdings expand to 1.73 million shares valued at over $231.91 million and representing 2.70% of the shares outstanding. Vanguard Windsor Funds – Vanguard sold -0.12 million shares to bring its total holdings to over 1.58 million shares at a value of $210.84 million. Vanguard Windsor Funds – Vanguard now owns shares totaling to 2.45% of the shares outstanding.
Shares of Cullen/Frost Bankers Inc. (NYSE: CFR) opened at $134.22, down -$0.75 from a prior closing price of $134.97. However, the script later moved the day high at 137.46, up 1.57%. The company’s stock has a 5-day price change of 1.74% and -5.31% over the past three months. CFR shares are trading 2.54% year to date (YTD), with the 12-month market performance down to -3.03% lower. It has a 12-month low price of $112.67 and touched a high of $160.60 over the same period. CFR has an average intraday trading volume of 394.56K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.52%, -2.20%, and 2.48% respectively.
Institutional ownership of Cullen/Frost Bankers Inc. (NYSE: CFR) shares accounts for 87.20% of the company’s 64.16M shares outstanding. Mutual fund holders own 36.44%, while other institutional holders and individual stakeholders account for 47.61% and 11.55% respectively.
It has a market capitalization of $8.68B and a beta (3y monthly) value of 1.09. The stock’s trailing 12-month PE ratio is 18.48, while the earnings-per-share (ttm) stands at $7.42. The company has a PEG of 1.84 and the debt-to-equity ratio at 0.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.33% over the week and 2.01% over the month.
Analysts forecast that Cullen/Frost Bankers Inc. (CFR) will achieve an EPS of $2.53 for the current quarter, $2.46 for the next quarter and $10 for 2023. The lowest estimate earnings-per-share for the quarter is $2.3 while analysts give the company a high EPS estimate of $2.82. Comparatively, EPS for the current quarter was $1.54 a year ago. Earnings per share for the fiscal year are expected to increase by 32.50%, and 26.19% over the next financial year. EPS should grow at an annualized rate of 10.02% over the next five years, compared to 7.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Cullen/Frost Bankers Inc. (CFR) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 8 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CFR, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on January 05, 2023, with the firm’s price target at $155. DA Davidson coverage for the Cullen/Frost Bankers Inc. (CFR) stock in a research note released on December 21, 2022 offered a Buy rating with a price target of $147. Evercore ISI on their part issued In-line rating on October 31, 2022.
