Cullen/Frost Bankers, Inc. (NYSE:CFR) has been given an average rating of “Hold” by the twelve analysts that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $114.25.
A number of research analysts have recently commented on CFR shares. Zacks Investment Research cut shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Morgan Stanley reissued a “hold” rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a report on Tuesday, September 18th. ValuEngine cut shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Stephens set a $101.00 target price on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Monday, October 29th. Finally, SunTrust Banks dropped their target price on shares of Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating for the company in a report on Monday, October 29th.
CFR stock opened at $99.32 on Friday. The stock has a market capitalization of $6.37 billion, a PE ratio of 18.22, a P/E/G ratio of 1.53 and a beta of 1.31. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.63 and a quick ratio of 0.63. Cullen/Frost Bankers has a 12 month low of $90.02 and a 12 month high of $121.66.
Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, October 25th. The bank reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $353.34 million during the quarter, compared to analysts’ expectations of $337.41 million. Cullen/Frost Bankers had a net margin of 32.11% and a return on equity of 13.74%. During the same quarter in the prior year, the business earned $1.41 earnings per share. As a group, analysts anticipate that Cullen/Frost Bankers will post 6.84 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 49.17%.
In other news, Director Carlos Alvarez acquired 54,000 shares of the stock in a transaction dated Friday, October 26th. The stock was bought at an average price of $93.71 per share, with a total value of $5,060,340.00. Following the completion of the purchase, the director now directly owns 386,500 shares of the company’s stock, valued at approximately $36,218,915. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bobby Berman sold 1,391 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $101.12, for a total value of $140,657.92. Following the completion of the transaction, the insider now directly owns 28,112 shares of the company’s stock, valued at approximately $2,842,685.44. The disclosure for this sale can be found here. Corporate insiders own 5.15% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC increased its stake in shares of Cullen/Frost Bankers by 159.2% in the third quarter. Belpointe Asset Management LLC now owns 9,606 shares of the bank’s stock valued at $1,003,000 after buying an additional 5,900 shares during the period. Vanguard Group Inc. increased its stake in shares of Cullen/Frost Bankers by 3.0% in the third quarter. Vanguard Group Inc. now owns 5,964,830 shares of the bank’s stock valued at $622,968,000 after buying an additional 171,180 shares during the period. WealthPLAN Partners LLC increased its stake in shares of Cullen/Frost Bankers by 9.1% in the third quarter. WealthPLAN Partners LLC now owns 27,076 shares of the bank’s stock valued at $2,659,000 after buying an additional 2,259 shares during the period. Morgan Stanley increased its stake in shares of Cullen/Frost Bankers by 17.5% in the third quarter. Morgan Stanley now owns 244,004 shares of the bank’s stock valued at $25,483,000 after buying an additional 36,286 shares during the period. Finally, Legal & General Group Plc increased its position in Cullen/Frost Bankers by 4.8% during the 3rd quarter. Legal & General Group Plc now owns 79,021 shares of the bank’s stock valued at $8,253,000 after purchasing an additional 3,604 shares during the period. 79.27% of the stock is owned by institutional investors.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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