Cullen/Frost Bankers, Inc. (NYSE:CFR) Given Consensus Recommendation of “Hold” by Brokerages

Cullen/Frost Bankers, Inc. (NYSE:CFR) has received a consensus rating of “Hold” from the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $123.86.

CFR has been the subject of a number of research analyst reports. Maxim Group increased their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday, November 1st. Evercore ISI decreased their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. DA Davidson upped their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Finally, Morgan Stanley dropped their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research note on Monday, September 30th.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the sale, the executive vice president now owns 2,888 shares of the company’s stock, valued at $399,525.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the sale, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the transaction, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Institutional investors have recently modified their holdings of the business. Champlain Investment Partners LLC boosted its position in Cullen/Frost Bankers by 7.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock worth $381,897,000 after acquiring an additional 244,445 shares during the last quarter. Montrusco Bolton Investments Inc. increased its position in shares of Cullen/Frost Bankers by 10.2% in the third quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock valued at $135,252,000 after acquiring an additional 111,719 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Cullen/Frost Bankers by 18.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after purchasing an additional 161,580 shares in the last quarter. Boston Trust Walden Corp bought a new stake in Cullen/Frost Bankers during the third quarter worth $107,166,000. Finally, Dimensional Fund Advisors LP lifted its stake in Cullen/Frost Bankers by 14.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock valued at $96,856,000 after purchasing an additional 120,333 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Down 1.4 %

NYSE:CFR opened at $141.01 on Wednesday. The stock has a fifty day simple moving average of $119.09 and a 200 day simple moving average of $110.25. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98. Cullen/Frost Bankers has a 1-year low of $91.61 and a 1-year high of $144.89. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.07. The business had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $2.38 earnings per share. Sell-side analysts forecast that Cullen/Frost Bankers will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is presently 47.15%.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.