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

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) have earned a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $123.86.

CFR has been the subject of several analyst reports. Stephens upped their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price objective on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Compass Point lifted their price objective on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Morgan Stanley decreased 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 research note on Monday, September 30th. Finally, Truist Financial dropped their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Bobby Berman sold 3,506 shares of the firm’s 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the transaction, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of institutional investors and hedge funds have recently bought and sold shares of CFR. Alpha DNA Investment Management LLC increased its stake in shares of Cullen/Frost Bankers by 13.8% during the third quarter. Alpha DNA Investment Management LLC now owns 6,322 shares of the bank’s stock valued at $707,000 after acquiring an additional 766 shares during the period. Cerity Partners LLC raised its stake in shares of Cullen/Frost Bankers by 48.4% in the 3rd quarter. Cerity Partners LLC now owns 46,715 shares of the bank’s stock worth $5,225,000 after buying an additional 15,244 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in Cullen/Frost Bankers by 7.7% during the third quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock valued at $381,897,000 after buying an additional 244,445 shares in the last quarter. Montrusco Bolton Investments Inc. grew its holdings in Cullen/Frost Bankers by 10.2% during the third quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock worth $135,252,000 after acquiring an additional 111,719 shares during the period. Finally, Icon Wealth Advisors LLC raised its position in Cullen/Frost Bankers by 244.8% in the third quarter. Icon Wealth Advisors LLC now owns 5,561 shares of the bank’s stock worth $622,000 after acquiring an additional 3,948 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $141.01 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. Cullen/Frost Bankers has a 12 month low of $91.61 and a 12 month high of $144.89. The company has a market cap 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. The stock’s 50-day moving average is $119.09 and its 200-day moving average is $110.25.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. The company had revenue of $518.04 million during 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%. Cullen/Frost Bankers’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 earnings per share. Equities analysts anticipate that Cullen/Frost Bankers will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business 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 is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) 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.