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

Cullen/Frost Bankers, Inc. (NYSE:CFR) has been assigned an average rating of “Hold” from the fourteen brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $119.71.

Several brokerages have commented on CFR. Stephens upped their target price on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. 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 report on Tuesday, June 25th. Truist Financial reduced their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday. JPMorgan Chase & Co. reduced their price objective on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Finally, DA Davidson increased their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

Insiders Place Their Bets

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

Institutional Trading of Cullen/Frost Bankers

Several hedge funds have recently bought and sold shares of CFR. Sanctuary Advisors LLC purchased a new position in shares of Cullen/Frost Bankers during the 2nd quarter valued at $2,199,000. Point72 Asset Management L.P. bought a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth about $13,574,000. Northwestern Mutual Wealth Management Co. increased its stake in Cullen/Frost Bankers by 2.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank’s stock valued at $600,000 after acquiring an additional 156 shares during the period. Creative Planning boosted its position in Cullen/Frost Bankers by 7.4% in the second quarter. Creative Planning now owns 8,449 shares of the bank’s stock valued at $859,000 after buying an additional 585 shares in the last quarter. Finally, Algert Global LLC boosted its position in Cullen/Frost Bankers by 19.7% in the second quarter. Algert Global LLC now owns 37,301 shares of the bank’s stock valued at $3,791,000 after buying an additional 6,143 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock opened at $112.54 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The firm’s 50-day simple moving average is $110.88 and its 200-day simple moving average is $106.87. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $123.17. The firm has a market cap of $7.23 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. The company had revenue of $528.81 million during the quarter, compared to the consensus estimate of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same period in the previous year, the firm posted $2.47 earnings per share. As a group, research analysts expect that Cullen/Frost Bankers will post 8.62 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.38%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, August 30th. Cullen/Frost Bankers’s dividend payout ratio is presently 44.92%.

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.