Cullen/Frost Bankers (NYSE:CFR – Get Rating) had its price target hoisted by Truist Financial from $140.00 to $150.00 in a research note issued to investors on Wednesday morning, The Fly reports. Truist Financial currently has a hold rating on the bank's stock.
Other analysts have also recently issued reports about the company. Stephens boosted their price target on Cullen/Frost Bankers from $133.00 to $145.00 and gave the stock an equal weight rating in a research report on Tuesday, August 2nd. Raymond James lowered their price objective on Cullen/Frost Bankers from $160.00 to $145.00 and set an outperform rating on the stock in a research report on Thursday, July 7th. Wolfe Research lowered their price objective on Cullen/Frost Bankers from $161.00 to $132.00 and set an outperform rating on the stock in a research report on Thursday, May 26th. Wedbush raised Cullen/Frost Bankers to a neutral rating in a research report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. raised Cullen/Frost Bankers from an underweight rating to an overweight rating and upped their price objective for the company from $143.00 to $155.00 in a research report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Cullen/Frost Bankers currently has an average rating of Hold and a consensus price target of $141.08.
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Cullen/Frost Bankers Price Performance
Shares of NYSE CFR opened at $138.25 on Wednesday. The stock has a market cap of $8.87 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.84 and a beta of 1.19. Cullen/Frost Bankers has a fifty-two week low of $106.66 and a fifty-two week high of $147.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a fifty day moving average of $131.36 and a 200-day moving average of $130.56.
Cullen/Frost Bankers (NYSE:CFR – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The bank reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Cullen/Frost Bankers had a return on equity of 11.13% and a net
margin of 29.19%. During the same period in the prior year, the company earned $1.80 EPS. Equities research analysts anticipate that Cullen/Frost Bankers will post 8.09 earnings per share for the current year.
Cullen/Frost Bankers Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.87 dividend. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.52%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 53.46%.
Insiders Place Their Bets
In other Cullen/Frost Bankers news, CFO Jerry Salinas sold 12,000 shares of the firm's stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $134.03, for a total value of $1,608,360.00. Following the completion of the sale, the chief financial officer now owns 27,792 shares of the company's stock, valued at $3,724,961.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Patrick B. Frost sold 18,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $128.19, for a total transaction of $2,307,420.00. Following the transaction, the insider now directly owns 206,676 shares of the company's stock, valued at $26,493,796.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jerry Salinas sold 12,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $134.03, for a total transaction of $1,608,360.00. Following the transaction, the chief financial officer now directly owns 27,792 shares in the company, valued at $3,724,961.76. The disclosure for this sale can be found here. 3.76% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFR. Comerica Bank increased its holdings in Cullen/Frost Bankers by 2.1% in the first quarter. Comerica Bank now owns 28,413 shares of the bank's stock valued at $4,132,000 after buying an additional 580 shares in the last quarter. Swiss National Bank grew its stake in Cullen/Frost Bankers by 7.4% during the 1st quarter. Swiss National Bank now owns 143,100 shares of the bank's stock valued at $19,806,000 after acquiring an additional 9,900 shares in the last quarter. Arizona State Retirement System grew its stake in Cullen/Frost Bankers by 0.5% during the 1st quarter. Arizona State Retirement System now owns 16,362 shares of the bank's stock valued at $2,265,000 after acquiring an additional 87 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Cullen/Frost Bankers in the 1st quarter valued at about $852,000. Finally, Baillie Gifford & Co. lifted its holdings in shares of Cullen/Frost Bankers by 7.3% in the 1st quarter. Baillie Gifford & Co. now owns 292,820 shares of the bank's stock worth $40,530,000 after acquiring an additional 19,936 shares during the last quarter. 78.85% of the stock is currently owned by institutional investors and hedge funds.
Cullen/Frost Bankers Company Profile
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Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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