Cullen/Frost Bankers, Inc. (NYSE:CFR) Receives $135.73 Average PT from Brokerages

Cullen/Frost Bankers, Inc. (NYSE:CFR) has received an average recommendation of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $135.7273.

CFR has been the subject of several recent analyst reports. Evercore ISI raised their target price on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Barclays decreased their price objective on shares of Cullen/Frost Bankers from $145.00 to $140.00 and set an “equal weight” rating for the company in a research note on Friday, December 19th. Weiss Ratings restated a “hold (c)” rating on shares of Cullen/Frost Bankers in a report on Monday, December 29th. Citigroup upped their price target on Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a research report on Friday, October 31st. Finally, Morgan Stanley raised their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $138.66 on Monday. The company has a market capitalization of $8.87 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.75 and a beta of 0.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a fifty day moving average of $128.10 and a 200-day moving average of $128.33. Cullen/Frost Bankers has a one year low of $100.31 and a one year high of $146.44.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 30th. The bank reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.29. Cullen/Frost Bankers had a return on equity of 15.84% and a net margin of 21.99%.The company had revenue of $567.27 million for the quarter, compared to analyst estimates of $565.54 million. During the same period in the previous year, the firm earned $2.24 earnings per share. As a group, equities analysts anticipate that Cullen/Frost Bankers will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. Cullen/Frost Bankers’s payout ratio is presently 41.15%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total value of $88,900.00. Following the completion of the sale, the executive vice president owned 3,795 shares in the company, valued at $481,965. This represents a 15.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.89% of the stock is currently owned by insiders.

Institutional Trading of Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Cullen/Frost Bankers during the second quarter valued at $90,484,000. Two Sigma Investments LP raised its stake in shares of Cullen/Frost Bankers by 2,024.4% during the 3rd quarter. Two Sigma Investments LP now owns 373,977 shares of the bank’s stock worth $47,409,000 after purchasing an additional 356,373 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Cullen/Frost Bankers by 58.7% during the 2nd quarter. Impax Asset Management Group plc now owns 822,878 shares of the bank’s stock valued at $104,861,000 after buying an additional 304,491 shares during the last quarter. Fiera Capital Corp bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at approximately $29,769,000. Finally, Millennium Management LLC acquired a new position in Cullen/Frost Bankers in the third quarter worth approximately $29,687,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.