Cullen/Frost Bankers (NYSE:CFR) Hits New 12-Month High – What’s Next?

Cullen/Frost Bankers, Inc. (NYSE:CFR) hit a new 52-week high on Monday . The company traded as high as $155.41 and last traded at $154.9970, with a volume of 849482 shares trading hands. The stock had previously closed at $155.31.

Analyst Ratings Changes

Several research firms have recently commented on CFR. Stephens upgraded Cullen/Frost Bankers from an “equal weight” rating to an “overweight” rating and set a $164.00 target price for the company in a research note on Tuesday, May 5th. Morgan Stanley dropped their price target on shares of Cullen/Frost Bankers from $143.00 to $133.00 and set an “underweight” rating for the company in a research note on Tuesday, March 31st. Barclays upped their price target on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a research note on Monday, April 13th. Finally, Royal Bank Of Canada raised their price objective on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus price target of $148.73.

Cullen/Frost Bankers Price Performance

The company has a 50 day simple moving average of $141.73 and a 200-day simple moving average of $138.47. The stock has a market cap of $9.71 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 3.91 and a beta of 0.55. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The company had revenue of $574.84 million during the quarter, compared to analyst estimates of $587.28 million. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.During the same quarter last year, the firm earned $2.30 EPS. As a group, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.54 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.7%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, May 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 40.12%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction on Friday, June 12th. The shares were sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the transaction, the executive vice president owned 12,712 shares of the company’s stock, valued at $1,885,062.48. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.14% of the stock is owned by company insiders.

Institutional Trading of Cullen/Frost Bankers

A number of institutional investors and hedge funds have recently modified their holdings of CFR. Dimensional Fund Advisors LP lifted its position in shares of Cullen/Frost Bankers by 18.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after buying an additional 236,808 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cullen/Frost Bankers by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank’s stock valued at $155,059,000 after buying an additional 10,246 shares during the period. Bank of America Corp DE grew its position in shares of Cullen/Frost Bankers by 11.8% during the 1st quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock valued at $165,966,000 after buying an additional 127,483 shares during the last quarter. Northern Trust Corp grew its position in shares of Cullen/Frost Bankers by 2.3% during the 3rd quarter. Northern Trust Corp now owns 965,821 shares of the bank’s stock valued at $122,437,000 after buying an additional 21,793 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Cullen/Frost Bankers by 6.2% during the first quarter. First Trust Advisors LP now owns 789,930 shares of the bank’s stock worth $108,284,000 after acquiring an additional 45,921 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 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.