Cullen/Frost Bankers (NYSE:CFR) Sets New 52-Week High – Here’s What Happened

Cullen/Frost Bankers, Inc. (NYSE:CFR) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $149.05 and last traded at $148.7150, with a volume of 71211 shares. The stock had previously closed at $145.66.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. DA Davidson lifted their price target on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Cullen/Frost Bankers in a report on Monday, June 1st. Citigroup raised their target price on Cullen/Frost Bankers from $125.00 to $131.00 and gave the company a “sell” rating in a research note on Thursday, May 7th. Royal Bank Of Canada raised their target price on Cullen/Frost Bankers from $150.00 to $155.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Finally, TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $148.73.

Cullen/Frost Bankers Stock Performance

The firm has a market cap of $9.33 billion, a P/E ratio of 14.48, a PEG ratio of 3.67 and a beta of 0.55. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average is $140.85 and its two-hundred day moving average is $137.56.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The company had revenue of $574.84 million for 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 company earned $2.30 earnings per share. As a group, equities analysts predict that Cullen/Frost Bankers, Inc. will post 10.53 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a dividend of $1.03 per share. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, May 29th. This represents a $4.12 annualized dividend and a yield of 2.8%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 40.12%.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Carol Jean Severyn sold 837 shares of the company’s 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 sale, the executive vice president owned 12,712 shares in the company, valued at $1,885,062.48. This represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFR. Advisory Services Network LLC purchased a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $28,000. Covestor Ltd boosted its stake in shares of Cullen/Frost Bankers by 67.6% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Cullen/Frost Bankers by 252.1% in the fourth quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock valued at $33,000 after acquiring an additional 184 shares in the last quarter. Community Bank N.A. bought a new position in shares of Cullen/Frost Bankers in the third quarter valued at approximately $35,000. Finally, Matrix Trust Co increased its position in shares of Cullen/Frost Bankers by 40.4% during the fourth quarter. Matrix Trust Co now owns 320 shares of the bank’s stock valued at $41,000 after acquiring an additional 92 shares during the last quarter. 86.90% of the stock is currently 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.