Cullen/Frost Bankers, Inc. (NYSE:CFR) Lifted to “Hold” at BidaskClub
Cullen/Frost Bankers, Inc. (NYSE:CFR) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday.
A number of other brokerages have also commented on CFR. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Tuesday, June 13th. Royal Bank of Canada restated a “sector perform” rating and set a $99.00 price objective (up from $93.00) on shares of Cullen/Frost Bankers in a report on Thursday, April 27th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Cullen/Frost Bankers in a report on Tuesday, July 4th. Morgan Stanley raised their price objective on shares of Cullen/Frost Bankers from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Finally, Wedbush upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating and set a $92.00 price objective on the stock in a report on Friday, May 19th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus target price of $92.00.
Cullen/Frost Bankers (CFR) traded up 0.27% during trading on Wednesday, hitting $95.45. 341,373 shares of the stock were exchanged. The stock has a 50 day moving average price of $93.22 and a 200-day moving average price of $90.69. The firm has a market capitalization of $6.10 billion, a PE ratio of 19.44 and a beta of 1.33. Cullen/Frost Bankers has a 12-month low of $63.11 and a 12-month high of $99.20.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Wednesday, April 26th. The bank reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Cullen/Frost Bankers had a net margin of 27.98% and a return on equity of 10.84%. The business had revenue of $292.21 million for the quarter, compared to analyst estimates of $319.56 million. During the same period last year, the business posted $1.07 earnings per share. On average, equities research analysts anticipate that Cullen/Frost Bankers will post $5.30 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were paid a dividend of $0.57 per share. The ex-dividend date was Friday, May 26th. 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 2.39%. Cullen/Frost Bankers’s payout ratio is currently 46.44%.
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In other news, Director Graham M. Weston acquired 22,081 shares of the stock in a transaction dated Tuesday, May 16th. The shares were bought at an average cost of $90.56 per share, for a total transaction of $1,999,655.36. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.15% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its position in 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 in the last quarter. Kempner Capital Management Inc. raised its position in Cullen/Frost Bankers by 63.7% in the first quarter. Kempner Capital Management Inc. now owns 125,872 shares of the bank’s stock valued at $11,199,000 after buying an additional 48,996 shares in the last quarter. Palisade Capital Management LLC NJ raised its position in 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 valued at $19,482,000 after buying an additional 9,844 shares in the last quarter. BlackRock Inc. raised its position in Cullen/Frost Bankers by 3,918.0% in the first quarter. BlackRock Inc. now owns 4,695,956 shares of the bank’s stock valued at $417,800,000 after buying an additional 4,579,082 shares in the last quarter. Finally, Bridgewater Associates LP purchased a new position in Cullen/Frost Bankers during the first quarter valued at $2,214,000. Institutional investors own 81.24% of the company’s stock.
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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