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

Cullen/Frost Bankers, Inc. (NYSE:CFR) has received a consensus recommendation of “Hold” from the fourteen research firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $125.43.

CFR has been the topic of a number of recent analyst reports. Wedbush dropped their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Royal Bank of Canada increased their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Citigroup raised their price objective on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Morgan Stanley lowered their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, September 30th. Finally, Stephens lifted their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st.

Cullen/Frost Bankers Trading Up 0.0 %

NYSE CFR opened at $138.26 on Friday. Cullen/Frost Bankers has a 52 week low of $94.09 and a 52 week high of $147.64. The firm has a 50 day moving average of $129.80 and a two-hundred day moving average of $114.49. The stock has a market capitalization of $8.87 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. 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 issued its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The firm had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same quarter in the previous year, the firm posted $2.38 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that Cullen/Frost Bankers will post 8.75 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the business’s stock in a transaction that occurred 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 owns 2,888 shares in the company, valued at approximately $399,525.92. The trade was a 58.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,864 shares of company stock worth $2,977,033 in the last quarter. Company insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Keene & Associates Inc. grew its holdings in shares of Cullen/Frost Bankers by 1.7% in the 3rd quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after acquiring an additional 89 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Cullen/Frost Bankers by 7.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock valued at $150,000 after purchasing an additional 97 shares during the last quarter. Asset Dedication LLC increased its position in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after buying an additional 105 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Cullen/Frost Bankers by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after buying an additional 106 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Cullen/Frost Bankers by 6.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock worth $237,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

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.