DA Davidson downgraded shares of Cullen/Frost Bankers (NYSE:CFR – Free Report) from a buy rating to a neutral rating in a research note published on Monday, MarketBeat reports. DA Davidson currently has $143.00 price target on the bank’s stock, up from their prior price target of $138.00.
Other analysts have also issued research reports about the company. Compass Point increased their price objective on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $144.00 price target on shares of Cullen/Frost Bankers in a report on Friday. Keefe, Bruyette & Woods increased their price objective on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens boosted their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, Citigroup lifted their price objective on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $130.31.
Check Out Our Latest Stock Report on CFR
Cullen/Frost Bankers Trading Down 2.4 %
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, beating the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 16.04%. As a group, equities research analysts anticipate that Cullen/Frost Bankers will post 8.66 earnings per share for the current fiscal year.
Cullen/Frost Bankers Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, February 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 42.84%.
Insider Buying and Selling at Cullen/Frost Bankers
In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the transaction, the executive vice president now owns 2,888 shares in the company, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Bracher sold 11,500 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the sale, the insider now directly owns 102,946 shares of the company’s stock, valued at $14,355,819.70. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,858 shares of company stock valued at $4,137,865. Corporate insiders own 3.00% of the company’s stock.
Hedge Funds Weigh In On Cullen/Frost Bankers
Institutional investors and hedge funds have recently bought and sold shares of the business. Champlain Investment Partners LLC increased its position in Cullen/Frost Bankers by 7.7% during the third quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock worth $381,897,000 after purchasing an additional 244,445 shares during the last quarter. Montrusco Bolton Investments Inc. increased its holdings in shares of Cullen/Frost Bankers by 10.2% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock worth $135,252,000 after buying an additional 111,719 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cullen/Frost Bankers by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,097,697 shares of the bank’s stock valued at $122,820,000 after buying an additional 66,223 shares during the period. Boston Trust Walden Corp raised its position in shares of Cullen/Frost Bankers by 9.8% during the 4th quarter. Boston Trust Walden Corp now owns 1,052,290 shares of the bank’s stock valued at $141,270,000 after buying an additional 94,252 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Cullen/Frost Bankers by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 822,432 shares of the bank’s stock valued at $110,418,000 after acquiring an additional 16,223 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.
About Cullen/Frost Bankers
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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