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

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) have been given an average recommendation of “Hold” by the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $120.07.

CFR has been the topic of several research reports. Morgan Stanley dropped their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday. Truist Financial dropped their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. JPMorgan Chase & Co. dropped their target price on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. DA Davidson raised their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Evercore ISI decreased their price objective on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 25th.

Cullen/Frost Bankers Trading Up 0.7 %

Cullen/Frost Bankers stock opened at $111.96 on Tuesday. The stock has a market capitalization of $7.19 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.36 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The business’s fifty day moving average is $110.73 and its 200 day moving average is $107.03. Cullen/Frost Bankers has a one year low of $82.25 and a one year high of $123.17.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.14. The business had revenue of $528.81 million for the quarter, compared to analysts’ expectations of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same period last year, the firm posted $2.47 earnings per share. On average, sell-side analysts predict that Cullen/Frost Bankers will post 8.62 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 44.92%.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the sale, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the sale, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now directly owns 1,598 shares in the company, valued at approximately $190,481.60. The disclosure for this sale can be found here. 2.89% of the stock is owned by corporate insiders.

Institutional Trading of Cullen/Frost Bankers

A number of large investors have recently added to or reduced their stakes in CFR. Norges Bank bought a new stake in Cullen/Frost Bankers in the 4th quarter worth approximately $72,627,000. Champlain Investment Partners LLC increased its stake in Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after acquiring an additional 495,215 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in shares of Cullen/Frost Bankers in the 2nd quarter worth approximately $37,813,000. Strategic Financial Concepts LLC boosted its holdings in shares of Cullen/Frost Bankers by 7,109.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock worth $255,000 after purchasing an additional 247,416 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Cullen/Frost Bankers by 44.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after purchasing an additional 244,197 shares during the period. 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.