Cullen/Frost Bankers, Inc. (NYSE:CFR) Receives $119.50 Consensus Target Price from Brokerages

Cullen/Frost Bankers, Inc. (NYSE:CFR) has earned a consensus rating of “Hold” from the fourteen ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $119.93.

CFR has been the topic of a number of recent research reports. DA Davidson lifted their price objective on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Stephens lifted their price objective on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Wedbush lifted their price objective on shares of Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of Cullen/Frost Bankers to a “sell” rating in a research note on Saturday, May 4th. Finally, Truist Financial lifted their price objective on shares of Cullen/Frost Bankers from $102.00 to $126.00 and gave the company a “hold” rating in a research note on Monday, July 29th.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $105.66 on Monday. The company’s fifty day moving average price is $104.27 and its 200 day moving average price is $106.23. Cullen/Frost Bankers has a 12 month low of $82.25 and a 12 month high of $123.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $6.76 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.30 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter last year, the company posted $2.47 EPS. As a group, sell-side analysts predict that Cullen/Frost Bankers will post 8.58 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a yield of 3.60%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s payout ratio is currently 43.50%.

Insider Buying and Selling

In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the sale, the executive vice president now owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the sale, the executive vice president now owns 1,598 shares of the company’s stock, valued at $190,481.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The disclosure for this sale can be found here. 2.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the fourth quarter worth about $33,000. CWM LLC raised its position in Cullen/Frost Bankers by 46.5% during the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after acquiring an additional 106 shares during the last quarter. GAMMA Investing LLC acquired a new position in Cullen/Frost Bankers during the fourth quarter worth about $43,000. Whittier Trust Co. raised its position in Cullen/Frost Bankers by 90.7% during the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after acquiring an additional 186 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Cullen/Frost Bankers by 89.7% during the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock worth $50,000 after acquiring an additional 218 shares during the last quarter. Institutional investors and hedge funds 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.