Cullen/Frost Bankers, Inc. (CFR) Upgraded by Wedbush to “Neutral”
Cullen/Frost Bankers, Inc. (NYSE:CFR) was upgraded by Wedbush from an “underperform” rating to a “neutral” rating in a research report issued on Friday. The firm currently has a $92.00 target price on the bank’s stock. Wedbush’s target price points to a potential upside of 0.98% from the stock’s current price.
Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a report on Tuesday, May 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $99.00 price target (up previously from $93.00) on shares of Cullen/Frost Bankers in a report on Thursday, April 27th. Raymond James Financial, Inc. began coverage on Cullen/Frost Bankers in a report on Thursday, April 6th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods set a $94.00 price target on Cullen/Frost Bankers and gave the company a “hold” rating in a report on Monday, April 3rd. Finally, Barclays PLC lifted their price target on Cullen/Frost Bankers from $89.00 to $96.00 and gave the company an “equal weight” rating in a report on Thursday, January 26th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price of $85.33.
Cullen/Frost Bankers (NYSE:CFR) traded up 1.69% on Friday, reaching $91.11. 505,619 shares of the company’s stock were exchanged. Cullen/Frost Bankers has a 1-year low of $57.94 and a 1-year high of $97.56. The company has a market capitalization of $5.83 billion, a PE ratio of 18.54 and a beta of 1.20. The company has a 50 day moving average price of $90.72 and a 200-day moving average price of $88.20.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Wednesday, April 26th. The bank reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $292.21 million during the quarter, compared to analysts’ expectations of $319.56 million. Cullen/Frost Bankers had a return on equity of 10.39% and a net margin of 26.73%. During the same quarter in the previous year, the business earned $1.07 EPS. On average, equities research analysts anticipate that Cullen/Frost Bankers will post $5.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a $0.57 dividend. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.54. This represents a $2.28 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, May 26th. Cullen/Frost Bankers’s payout ratio is currently 45.96%.
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In other news, Director Graham M. Weston acquired 22,081 shares of Cullen/Frost Bankers stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average cost of $90.56 per share, with a total value of $1,999,655.36. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bobby Berman sold 7,940 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $93.35, for a total value of $741,199.00. Following the completion of the transaction, the insider now directly owns 38,596 shares in the company, valued at $3,602,936.60. The disclosure for this sale can be found here. Insiders own 8.03% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Aristotle Capital Management LLC raised its position in Cullen/Frost Bankers by 3.6% in the first quarter. Aristotle Capital Management LLC now owns 1,734,287 shares of the bank’s stock valued at $154,299,000 after buying an additional 60,197 shares in the last quarter. Janus Capital Management LLC raised its position in Cullen/Frost Bankers by 259.1% in the first quarter. Janus Capital Management LLC now owns 58,900 shares of the bank’s stock valued at $5,240,000 after buying an additional 42,500 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in Cullen/Frost Bankers by 1.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 52,777 shares of the bank’s stock valued at $4,696,000 after buying an additional 504 shares in the last quarter. Paloma Partners Management Co purchased a new position in Cullen/Frost Bankers during the first quarter valued at $206,000. Finally, AQR Capital Management LLC raised its position in Cullen/Frost Bankers by 484.3% in the first quarter. AQR Capital Management LLC now owns 148,868 shares of the bank’s stock valued at $13,245,000 after buying an additional 123,391 shares in the last quarter. 81.64% of the stock is currently owned by institutional investors and hedge funds.
Cullen/Frost Bankers Company Profile
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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