Cullen/Frost Bankers’ (CFR) “Neutral” Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of Cullen/Frost Bankers (NYSE:CFR) in a research note published on Friday morning, Benzinga reports. The firm currently has a $115.00 target price on the bank’s stock. Wedbush also issued estimates for Cullen/Frost Bankers’ Q2 2024 earnings at $2.03 EPS, Q3 2024 earnings at $2.10 EPS, Q4 2024 earnings at $2.22 EPS, FY2024 earnings at $8.50 EPS and Q1 2025 earnings at $2.02 EPS.

CFR has been the topic of a number of other research reports. Evercore ISI boosted their price objective on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the company an underperform rating in a research report on Thursday, March 28th. Compass Point lowered shares of Cullen/Frost Bankers from a buy rating to a neutral rating in a research note on Monday, January 8th. Truist Financial boosted their target price on shares of Cullen/Frost Bankers from $114.00 to $121.00 and gave the company a hold rating in a research note on Monday, April 1st. Morgan Stanley increased their price target on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group increased their price target on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a hold rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $117.92.

Cullen/Frost Bankers Price Performance

NYSE CFR opened at $107.08 on Friday. Cullen/Frost Bankers has a 12 month low of $82.25 and a 12 month high of $120.31. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.33 and a beta of 1.03. The company’s 50 day moving average is $109.17 and its two-hundred day moving average is $103.99. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 26.26% and a return on equity of 18.69%. During the same quarter in the previous year, the business posted $2.70 EPS. As a group, research analysts anticipate that Cullen/Frost Bankers will post 8.46 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 3.44%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 43.50%.

Insider Activity

In other news, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at $10,543,972. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the transaction, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Bracher sold 9,820 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at approximately $10,543,972. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently bought and sold shares of the business. WCM Investment Management LLC increased its holdings in Cullen/Frost Bankers by 6.9% in the 1st quarter. WCM Investment Management LLC now owns 2,581 shares of the bank’s stock worth $291,000 after buying an additional 167 shares during the period. Keene & Associates Inc. increased its holdings in Cullen/Frost Bankers by 5.6% in the 1st quarter. Keene & Associates Inc. now owns 6,156 shares of the bank’s stock worth $693,000 after buying an additional 327 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Cullen/Frost Bankers by 2.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the bank’s stock worth $2,083,000 after purchasing an additional 500 shares during the period. Fifth Third Bancorp grew its stake in shares of Cullen/Frost Bankers by 22.5% during the 1st quarter. Fifth Third Bancorp now owns 49,516 shares of the bank’s stock worth $5,574,000 after purchasing an additional 9,081 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Cullen/Frost Bankers by 172.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,413 shares of the bank’s stock worth $3,198,000 after purchasing an additional 17,993 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.