Weekly Analysts’ Ratings Updates for Cullen/Frost Bankers (CFR)

Cullen/Frost Bankers (NYSE: CFR) recently received a number of ratings updates from brokerages and research firms:

• 10/2/2024 – Cullen/Frost Bankers had its price target lowered by analysts at Evercore ISI from $123.00 to $115.00. They now have an “underperform” rating on the stock.
• 9/30/2024 – Cullen/Frost Bankers had its price target lowered by analysts at Morgan Stanley from $121.00 to $117.00. They now have an “underweight” rating on the stock.
• 9/30/2024 – Cullen/Frost Bankers had its price target lowered by analysts at Citigroup Inc. from $107.00 to $104.00. They now have a “sell” rating on the stock.
• 9/24/2024 – Cullen/Frost Bankers had its price target lowered by analysts at Wedbush from $124.00 to $123.00. They now have a “neutral” rating on the stock.
• 9/20/2024 – Cullen/Frost Bankers had its price target lowered by analysts at Truist Financial Co. from $126.00 to $123.00. They now have a “hold” rating on the stock.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock traded up $3.38 during trading hours on Wednesday, hitting $116.84. The company had a trading volume of 102,119 shares, compared to its average volume of 440,070. The firm has a market cap of $7.51 billion, a PE ratio of 13.81, a PEG ratio of 1.39 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. Cullen/Frost Bankers, Inc. has a one year low of $82.25 and a one year high of $123.17. The firm has a 50-day moving average of $109.95 and a 200 day moving average of $107.21.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. The firm had revenue of $528.81 million for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $2.47 EPS. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.61 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.95 per share. The ex-dividend date was Friday, August 30th. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a dividend yield of 3.25%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 44.92%.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at $2,243,796.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the transaction, the executive vice president now directly owns 1,598 shares in the company, valued at $190,481.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in Cullen/Frost Bankers by 125.2% in the first quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock valued at $1,338,000 after acquiring an additional 6,610 shares during the last quarter. Oak Harvest Investment Services bought a new position in Cullen/Frost Bankers in the first quarter valued at approximately $2,972,000. Goldman Sachs Group Inc. increased its stake in Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after acquiring an additional 244,197 shares during the last quarter. Natixis bought a new position in Cullen/Frost Bankers in the first quarter valued at approximately $957,000. Finally, Norden Group LLC acquired a new stake in Cullen/Frost Bankers in the first quarter valued at approximately $1,062,000. 86.90% of the stock is owned by institutional investors.

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.