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

Cullen/Frost Bankers, Inc. (NYSE:CFR) has earned a consensus recommendation of “Hold” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $127.07.

A number of analysts recently issued reports on CFR shares. Evercore ISI dropped their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. Compass Point increased their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial reduced their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Royal Bank of Canada increased their price target on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Finally, Morgan Stanley reduced their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research note on Monday, September 30th.

Cullen/Frost Bankers Stock Up 0.5 %

Shares of CFR opened at $135.08 on Thursday. Cullen/Frost Bankers has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. The company’s fifty day moving average is $136.71 and its two-hundred day moving average is $119.90. The firm has a market cap of $8.66 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.38 earnings per share. Analysts forecast that Cullen/Frost Bankers will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s payout ratio is currently 47.15%.

Insider Buying and Selling

In related news, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total value 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 11.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the transaction, the chief executive officer now directly owns 94,423 shares in the company, valued at approximately $13,026,597.08. This represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,864 shares of company stock worth $2,977,033. Insiders own 2.89% of the company’s stock.

Institutional Trading of Cullen/Frost Bankers

Institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd grew its position in shares of Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Cullen/Frost Bankers during the third quarter valued at approximately $29,000. Asset Dedication LLC raised its position in shares of Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares during the period. Brooklyn Investment Group bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth approximately $44,000. Finally, Allworth Financial LP boosted its position in Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Company Profile

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.