Cullen/Frost Bankers, Inc. (CFR) Rating Reiterated by Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reissued their hold rating on shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in a research report report published on Friday. The firm currently has a $95.00 target price on the bank’s stock.
Several other research firms have also issued reports on CFR. Zacks Investment Research upgraded Cullen/Frost Bankers from a hold rating to a buy rating and set a $107.00 price objective on the stock in a research note on Friday, July 7th. Morgan Stanley reiterated an equal weight rating and set a $93.00 target price (up from $90.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 6th. BidaskClub downgraded Cullen/Frost Bankers from a hold rating to a sell rating in a research note on Tuesday, June 27th. Barclays PLC set a $97.00 target price on Cullen/Frost Bankers and gave the stock a hold rating in a report on Sunday, July 30th. Finally, Jefferies Group LLC reissued a hold rating and set a $95.00 target price on shares of Cullen/Frost Bankers in a report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $95.13.
Shares of Cullen/Frost Bankers (NYSE CFR) opened at 96.24 on Friday. The firm has a 50-day moving average price of $87.83 and a 200-day moving average price of $91.01. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 18.96 and a beta of 1.35. Cullen/Frost Bankers has a 12-month low of $69.86 and a 12-month high of $99.20.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.29. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. The business had revenue of $295.87 million during the quarter, compared to the consensus estimate of $316.40 million. During the same period last year, the business posted $1.11 EPS. Equities research analysts anticipate that Cullen/Frost Bankers will post $5.22 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $2.28 annualized dividend and a dividend yield of 2.37%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 44.79%.
Institutional investors have recently modified their holdings of the business. Parallax Volatility Advisers L.P. boosted its holdings in Cullen/Frost Bankers by 124.1% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock valued at $102,000 after purchasing an additional 602 shares during the period. Invictus RG acquired a new position in shares of Cullen/Frost Bankers during the 1st quarter worth approximately $109,000. Tower Research Capital LLC TRC bought a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $114,000. Westwood Holdings Group Inc. bought a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $131,000. Finally, Fiduciary Trust Co. bought a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $136,000. Institutional investors and hedge funds own 80.72% of the company’s stock.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
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