Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $154.08.
Several equities analysts recently weighed in on the stock. Bank of America upgraded shares of Cullen/Frost Bankers from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday. Raymond James raised their price objective on shares of Cullen/Frost Bankers from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, October 28th. Wedbush reaffirmed a “neutral” rating and set a $140.00 price objective on shares of Cullen/Frost Bankers in a research note on Wednesday, September 28th. DA Davidson began coverage on Cullen/Frost Bankers in a research report on Tuesday, December 20th. They set a “buy” rating and a $147.00 target price on the stock. Finally, Wolfe Research lowered Cullen/Frost Bankers from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, November 2nd.
Cullen/Frost Bankers Stock Performance
CFR stock opened at $134.74 on Friday. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.26 and a beta of 1.11. The firm has a 50-day simple moving average of $140.87 and a two-hundred day simple moving average of $135.38. Cullen/Frost Bankers has a one year low of $112.67 and a one year high of $160.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.63.
Cullen/Frost Bankers (NYSE:CFR – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The bank reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.40. Cullen/Frost Bankers had a net margin of 30.07% and a return on equity of 14.18%. The firm had revenue of $479.34 million for the quarter, compared to the consensus estimate of $445.68 million. On average, equities analysts forecast that Cullen/Frost Bankers will post 8.7 EPS for the current fiscal year.
Cullen/Frost Bankers Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Tuesday, November 29th. Cullen/Frost Bankers’s payout ratio is presently 46.71%.
Insider Buying and Selling
In related news, EVP Bobby Berman sold 1,941 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $151.62, for a total transaction of $294,294.42. Following the completion of the sale, the executive vice president now owns 24,589 shares in the company, valued at $3,728,184.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.76% of the stock is owned by company insiders.
Institutional Investors Weigh In On Cullen/Frost Bankers
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Confluence Investment Management LLC increased its holdings in shares of Cullen/Frost Bankers by 0.8% in the second quarter. Confluence Investment Management LLC now owns 158,388 shares of the bank’s stock valued at $18,444,000 after purchasing an additional 1,253 shares during the period. Fulton Bank N.A. acquired a new position in Cullen/Frost Bankers during the third quarter worth $247,000. Texas Permanent School Fund grew its holdings in Cullen/Frost Bankers by 2.1% during the second quarter. Texas Permanent School Fund now owns 41,232 shares of the bank’s stock worth $4,801,000 after acquiring an additional 835 shares during the period. Azimuth Capital Investment Management LLC purchased a new stake in Cullen/Frost Bankers during the second quarter worth $309,000. Finally, Eagle Bay Advisors LLC boosted its position in Cullen/Frost Bankers by 175.5% during the second quarter. Eagle Bay Advisors LLC now owns 540 shares of the bank’s stock worth $63,000 after purchasing an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 81.93% of the company’s stock.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the bank 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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