Cullen/Frost Bankers (NYSE:CFR) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Cullen/Frost Bankers (NYSE:CFR) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. TD Cowen increased their price target on shares of Cullen/Frost Bankers from $169.00 to $185.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank Of Canada lifted their price objective on shares of Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Cantor Fitzgerald boosted their target price on shares of Cullen/Frost Bankers from $154.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Barclays increased their target price on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Finally, Raymond James Financial restated a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $160.33.

Cullen/Frost Bankers Stock Down 0.8%

CFR stock opened at $164.83 on Wednesday. The stock’s fifty day simple moving average is $153.80 and its two-hundred day simple moving average is $144.51. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers has a 1-year low of $119.00 and a 1-year high of $170.29. The stock has a market cap of $10.24 billion, a P/E ratio of 15.58, a P/E/G ratio of 2.56 and a beta of 0.53.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.The firm had revenue of $608.65 million during the quarter, compared to analyst estimates of $589.72 million. During the same period last year, the firm posted $2.39 EPS. Analysts expect that Cullen/Frost Bankers will post 10.82 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $1.03 per share. The ex-dividend date is Monday, August 31st. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. Cullen/Frost Bankers’s dividend payout ratio is presently 38.94%.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the sale, the executive vice president owned 12,712 shares of the company’s stock, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.14% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several institutional investors have recently added to or reduced their stakes in CFR. Private Advisor Group LLC lifted its holdings in Cullen/Frost Bankers by 2.9% during the third quarter. Private Advisor Group LLC now owns 3,283 shares of the bank’s stock valued at $416,000 after purchasing an additional 94 shares in the last quarter. Cardinal Capital Management boosted its position in shares of Cullen/Frost Bankers by 0.5% in the fourth quarter. Cardinal Capital Management now owns 18,134 shares of the bank’s stock worth $2,296,000 after purchasing an additional 98 shares during the period. Evolve Private Wealth LLC increased its stake in shares of Cullen/Frost Bankers by 6.0% in the first quarter. Evolve Private Wealth LLC now owns 1,726 shares of the bank’s stock worth $237,000 after purchasing an additional 98 shares in the last quarter. Covestor Ltd increased its stake in shares of Cullen/Frost Bankers by 67.6% in the fourth quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Cullen/Frost Bankers by 0.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,921 shares of the bank’s stock valued at $1,771,000 after purchasing an additional 100 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

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.