Cullen/Frost Bankers, Inc. (NYSE:CFR) Given Average Recommendation of “Hold” by Analysts

Cullen/Frost Bankers, Inc. (NYSE:CFR) has been given an average recommendation of “Hold” by the fourteen brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $120.07.

A number of analysts have recently weighed in on the company. Wedbush dropped their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. DA Davidson increased their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Truist Financial dropped their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their price objective on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, Morgan Stanley dropped their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cullen/Frost Bankers

Institutional investors have recently modified their holdings of the stock. ICA Group Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth $33,000. CWM LLC boosted its position in shares of Cullen/Frost Bankers by 46.5% during the first quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after buying an additional 106 shares during the last quarter. Whittier Trust Co. boosted its position in shares of Cullen/Frost Bankers by 90.7% during the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after buying an additional 186 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Cullen/Frost Bankers by 89.7% during the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after buying an additional 218 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the second quarter valued at $54,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Up 0.7 %

Shares of CFR opened at $111.96 on Tuesday. The firm has a market cap of $7.19 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.36 and a beta of 1.00. The stock has a 50 day simple moving average of $110.73 and a two-hundred day simple moving average of $107.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers has a 1 year low of $82.25 and a 1 year high of $123.17.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.14. The business had revenue of $528.81 million during the quarter, compared to analyst estimates of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same quarter in the prior year, the firm earned $2.47 earnings per share. On average, analysts forecast that Cullen/Frost Bankers will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.95 dividend. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a yield of 3.39%. Cullen/Frost Bankers’s dividend payout ratio is 44.92%.

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.