Cullen/Frost Bankers, Inc. (NYSE:CFR) Stock Rating Reaffirmed by Morgan Stanley
Cullen/Frost Bankers, Inc. (NYSE:CFR)‘s stock had its “equal weight” rating reissued by equities research analysts at Morgan Stanley in a research report issued to clients and investors on Thursday. They currently have a $93.00 target price on the bank’s stock, up from their prior target price of $90.00. Morgan Stanley’s target price would indicate a potential downside of 2.30% from the company’s previous close.
CFR has been the topic of a number of other research reports. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Tuesday, March 28th. Keefe, Bruyette & Woods set a $94.00 price target on Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Monday, April 3rd. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Tuesday. BidaskClub raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Wedbush upgraded Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating and set a $92.00 price target for the company in a research note on Friday, May 19th. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $92.30.
Shares of Cullen/Frost Bankers (NYSE:CFR) traded down 0.61% on Thursday, hitting $95.19. 338,367 shares of the stock traded hands. The firm has a 50 day moving average price of $93.22 and a 200 day moving average price of $90.69. Cullen/Frost Bankers has a 52-week low of $59.00 and a 52-week high of $99.20. The firm has a market cap of $6.09 billion, a PE ratio of 19.38 and a beta of 1.33.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Wednesday, April 26th. The bank reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Cullen/Frost Bankers had a return on equity of 10.84% and a net margin of 27.98%. The business had revenue of $292.21 million for the quarter, compared to the consensus estimate of $319.56 million. During the same quarter in the prior year, the company earned $1.07 EPS. On average, equities analysts forecast that Cullen/Frost Bankers will post $5.30 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were given a dividend of $0.57 per share. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.54. This represents a $2.28 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, May 26th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 46.44%.
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In other Cullen/Frost Bankers news, Director Graham M. Weston acquired 22,081 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were bought at an average cost of $90.56 per share, with a total value of $1,999,655.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.15% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its stake in shares of Cullen/Frost Bankers by 10.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,560 shares of the bank’s stock valued at $843,000 after buying an additional 890 shares during the last quarter. Kempner Capital Management Inc. raised its stake in shares of Cullen/Frost Bankers by 63.7% in the first quarter. Kempner Capital Management Inc. now owns 125,872 shares of the bank’s stock worth $11,199,000 after buying an additional 48,996 shares in the last quarter. Palisade Capital Management LLC NJ raised its stake in shares of Cullen/Frost Bankers by 4.7% in the first quarter. Palisade Capital Management LLC NJ now owns 218,975 shares of the bank’s stock worth $19,482,000 after buying an additional 9,844 shares in the last quarter. BlackRock Inc. raised its stake in shares of Cullen/Frost Bankers by 3,918.0% in the first quarter. BlackRock Inc. now owns 4,695,956 shares of the bank’s stock worth $417,800,000 after buying an additional 4,579,082 shares in the last quarter. Finally, Bridgewater Associates LP purchased a new stake in shares of Cullen/Frost Bankers during the first quarter worth about $2,214,000. 81.24% of the stock is currently owned by institutional investors.
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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