Cullen/Frost Bankers (NYSE:CFR – Free Report) had its price objective upped by Keefe, Bruyette & Woods from $140.00 to $148.00 in a report issued on Monday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.
CFR has been the subject of several other reports. Compass Point lifted their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. DA Davidson downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $138.00 to $143.00 in a report on Monday. Citigroup increased their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a report on Monday, November 4th. Maxim Group boosted their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Stephens raised their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $130.31.
View Our Latest Analysis on CFR
Cullen/Frost Bankers Trading Down 2.4 %
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 16.04% and a net margin of 18.81%. Sell-side analysts anticipate that Cullen/Frost Bankers will post 8.66 earnings per share for the current fiscal year.
Cullen/Frost Bankers Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.80 dividend on an annualized basis and a yield of 2.79%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 42.84%.
Insiders Place Their Bets
In related news, insider Paul Bracher sold 11,500 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the completion of the transaction, the insider now owns 102,946 shares in the company, valued at approximately $14,355,819.70. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Phillip D. Green sold 14,358 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. The trade was a 13.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,858 shares of company stock worth $4,137,865. 3.00% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Creative Planning raised its position in Cullen/Frost Bankers by 7.4% in the 2nd quarter. Creative Planning now owns 8,449 shares of the bank’s stock valued at $859,000 after buying an additional 585 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Cullen/Frost Bankers by 2.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank’s stock valued at $600,000 after buying an additional 156 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Cullen/Frost Bankers during the second quarter worth $2,199,000. GAMMA Investing LLC raised its position in Cullen/Frost Bankers by 18.5% during the third quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after acquiring an additional 106 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in Cullen/Frost Bankers by 14.3% in the third quarter. Diversified Trust Co now owns 22,085 shares of the bank’s stock valued at $2,470,000 after acquiring an additional 2,755 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.
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