Cullen/Frost Bankers (NYSE:CFR) Sets New 1-Year High Following Analyst Upgrade

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) reached a new 52-week high on Wednesday after Compass Point raised their price target on the stock from $111.00 to $122.00. Compass Point currently has a neutral rating on the stock. Cullen/Frost Bankers traded as high as $139.00 and last traded at $138.21, with a volume of 5098 shares trading hands. The stock had previously closed at $127.58.

A number of other research firms have also weighed in on CFR. Maxim Group upped their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Citigroup increased their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday. Wedbush lowered their price target 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. Stephens increased their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, DA Davidson lifted their price objective on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $123.86.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the sale, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several large investors have recently modified their holdings of CFR. Allspring Global Investments Holdings LLC increased its holdings in Cullen/Frost Bankers by 40.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank’s stock valued at $155,000 after buying an additional 395 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Cullen/Frost Bankers by 35.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,573 shares of the bank’s stock valued at $1,866,000 after acquiring an additional 4,317 shares during the period. Texas Permanent School Fund Corp raised its position in shares of Cullen/Frost Bankers by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,190 shares of the bank’s stock worth $6,325,000 after acquiring an additional 887 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Cullen/Frost Bankers by 15.9% during the 1st quarter. Sei Investments Co. now owns 377,920 shares of the bank’s stock worth $42,543,000 after purchasing an additional 51,808 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth $228,000. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

The business has a 50-day moving average of $117.36 and a two-hundred day moving average of $109.68. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $8.85 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.51 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates 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 was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.38 EPS. On average, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.75%. Cullen/Frost Bankers’s payout ratio is 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.