Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Free Report) have earned an average rating of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $169.36.
CFR has been the topic of several research analyst reports. Royal Bank Of Canada dropped their price target on Cullen/Frost Bankers from $176.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, October 9th. Morgan Stanley raised their price target on shares of Cullen/Frost Bankers from $200.00 to $201.00 and gave the stock an “overweight” rating in a research report on Monday, September 28th. Stephens lifted their price objective on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Zacks Research cut shares of Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Finally, Barclays raised their target price on shares of Cullen/Frost Bankers from $160.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, October 5th.
Get Our Latest Report on Cullen/Frost Bankers
Cullen/Frost Bankers Price Performance
Shares of CFR stock opened at $156.14 on Wednesday. Cullen/Frost Bankers has a fifty-two week low of $119.14 and a fifty-two week high of $170.80. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.78 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.63 and a current ratio of 0.63. The stock’s 50-day simple moving average is $159.30 and its 200-day simple moving average is $152.29.
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating the consensus estimate of $2.55 by $0.15. The firm had revenue of $576.01 million during the quarter, compared to analyst estimates of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same period last year, the firm posted $2.39 EPS. As a group, equities analysts forecast that Cullen/Frost Bankers will post 10.94 earnings per share for the current fiscal year.
Cullen/Frost Bankers Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 31st. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 38.94%.
Hedge Funds Weigh In On Cullen/Frost Bankers
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Cullen/Frost Bankers during the second quarter worth approximately $1,133,453,000. State Street Corp boosted its position in shares of Cullen/Frost Bankers by 3.8% during the 2nd quarter. State Street Corp now owns 3,218,249 shares of the bank’s stock valued at $497,292,000 after acquiring an additional 118,313 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Cullen/Frost Bankers by 22.6% in the second quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank’s stock valued at $429,204,000 after purchasing an additional 511,784 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Cullen/Frost Bankers by 18.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock valued at $209,833,000 after purchasing an additional 236,808 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Cullen/Frost Bankers by 11.8% in the first quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock valued at $165,966,000 after purchasing an additional 127,483 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 is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.
Frost Bank offers personal and commercial deposit accounts, loans, mortgages, treasury management, payments and other business banking services. The company also provides wealth management, trust and investment services, brokerage services and insurance solutions through its related businesses.
Frost traces its history to 1868, when Thomas Claiborne Frost founded the bank in San Antonio.
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