Analysts’ Weekly Ratings Changes for Cullen/Frost Bankers (CFR)

A number of firms have modified their ratings and price targets on shares of Cullen/Frost Bankers (NYSE: CFR) recently:

• 4/9/2024 – Cullen/Frost Bankers had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $118.00 price target on the stock.
• 4/8/2024 – Cullen/Frost Bankers had its price target raised by analysts at Jefferies Financial Group Inc. from $119.00 to $121.00. They now have a “hold” rating on the stock.
• 4/4/2024 – Cullen/Frost Bankers had its price target raised by analysts at JPMorgan Chase & Co. from $135.00 to $140.00. They now have an “overweight” rating on the stock.
• 4/1/2024 – Cullen/Frost Bankers had its price target raised by analysts at Truist Financial Co. from $114.00 to $121.00. They now have a “hold” rating on the stock.
• 3/28/2024 – Cullen/Frost Bankers had its price target raised by analysts at Evercore ISI from $109.00 to $113.00. They now have an “underperform” rating on the stock.
• 3/28/2024 – Cullen/Frost Bankers had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $126.00 price target on the stock.

Cullen/Frost Bankers Stock Performance

NYSE:CFR traded down $0.45 during trading hours on Tuesday, reaching $107.55. The stock had a trading volume of 478,987 shares, compared to its average volume of 413,783. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a 50 day simple moving average of $108.19 and a 200 day simple moving average of $102.80. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $120.31. The stock has a market cap of $6.91 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, January 25th. The bank reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.17. Cullen/Frost Bankers had a return on equity of 19.66% and a net margin of 22.60%. The business had revenue of $523.66 million during the quarter, compared to the consensus estimate of $498.09 million. On average, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.49 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.42%. Cullen/Frost Bankers’s dividend payout ratio is currently 40.44%.

Insider Activity

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the completion of the transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $10,543,972. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Bracher sold 9,820 shares of the stock in a transaction dated 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 directly owns 96,380 shares of the company’s stock, valued at $10,543,972. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new stake in Cullen/Frost Bankers in the first quarter worth about $25,000. Lazard Asset Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $26,000. NBC Securities Inc. purchased a new stake in shares of Cullen/Frost Bankers during the third quarter valued at approximately $27,000. ICA Group Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $33,000. Finally, Arvest Investments Inc. purchased a new stake in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.