Cullen/Frost Bankers Inc. (CFR) Now Covered by Analysts at Wedbush
Analysts at Wedbush initiated coverage on shares of Cullen/Frost Bankers Inc. (NYSE:CFR) in a research note issued to investors on Thursday. The brokerage set a “neutral” rating on the stock.
Several other brokerages also recently issued reports on CFR. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of Cullen/Frost Bankers from $55.00 to $58.00 and gave the stock an “underweight” rating in a research note on Thursday, July 7th. Jefferies Group upped their target price on shares of Cullen/Frost Bankers from $61.00 to $67.00 and gave the stock a “hold” rating in a research note on Thursday, July 28th. Vetr downgraded shares of Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 target price on the stock. in a research note on Tuesday, June 28th. Finally, Evercore ISI upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating and upped their target price for the stock from $52.00 to $67.00 in a research note on Thursday, June 9th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $67.24.
Cullen/Frost Bankers (NYSE:CFR) traded up 0.05% on Thursday, reaching $72.89. 332,993 shares of the company traded hands. The stock’s 50-day moving average is $71.05 and its 200-day moving average is $65.09. Cullen/Frost Bankers has a 1-year low of $42.41 and a 1-year high of $74.12. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 17.22 and a beta of 1.11.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a net margin of 24.81% and a return on equity of 9.67%. During the same quarter last year, the company earned $1.11 EPS. Equities research analysts expect that Cullen/Frost Bankers will post $4.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.54 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.96%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 50.82%.
In other news, Director Jack A. Wood sold 2,000 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $73.14, for a total value of $146,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Kardys sold 25,500 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $69.54, for a total transaction of $1,773,270.00. Following the completion of the sale, the insider now directly owns 128,078 shares of the company’s stock, valued at $8,906,544.12. The disclosure for this sale can be found here. 8.03% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of Cullen/Frost Bankers by 23.6% in the first quarter. State Street Corp now owns 6,959,482 shares of the company’s stock worth $383,537,000 after buying an additional 1,327,149 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Cullen/Frost Bankers during the second quarter worth $17,809,000. Vanguard Group Inc. raised its position in shares of Cullen/Frost Bankers by 4.8% in the second quarter. Vanguard Group Inc. now owns 4,153,968 shares of the company’s stock worth $264,732,000 after buying an additional 188,738 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Cullen/Frost Bankers by 243.4% in the first quarter. Prudential Financial Inc. now owns 200,838 shares of the company’s stock worth $11,069,000 after buying an additional 142,360 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in shares of Cullen/Frost Bankers during the second quarter worth $8,088,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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