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

Cullen/Frost Bankers, Inc. (NYSE:CFR) has earned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $123.86.

A number of research analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Evercore ISI cut their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Maxim Group upped their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stephens lifted their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Truist Financial lowered their price target 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.

Cullen/Frost Bankers Stock Down 0.2 %

CFR opened at $139.27 on Wednesday. The company has a market capitalization of $8.93 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.68 and a beta of 0.98. 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 firm’s fifty day moving average price is $120.88 and its two-hundred day moving average price is $110.97. Cullen/Frost Bankers has a fifty-two week low of $94.09 and a fifty-two week high of $144.89.

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. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same period in the prior year, the company posted $2.38 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts anticipate that Cullen/Frost Bankers will post 8.71 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, November 8th. The shares were 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 in the company, valued at approximately $399,525.92. The trade was a 58.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of the stock in a transaction 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 owns 26,661 shares in the company, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. 2.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several hedge funds have recently bought and sold shares of CFR. Tidal Investments LLC boosted its holdings in Cullen/Frost Bankers by 125.2% in the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock valued at $1,338,000 after purchasing an additional 6,610 shares during the period. Natixis purchased a new position in Cullen/Frost Bankers during the first quarter worth about $957,000. American Century Companies Inc. grew its position in Cullen/Frost Bankers by 11.9% during the second quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock worth $6,941,000 after buying an additional 7,236 shares in the last quarter. Raymond James & Associates increased its stake in Cullen/Frost Bankers by 10.0% in the 3rd quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock worth $13,361,000 after acquiring an additional 10,884 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised 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 valued at $255,000 after acquiring an additional 247,416 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.