Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Free Report) EVP Bobby Berman sold 2,406 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $157.10, for a total transaction of $377,982.60. Following the completion of the transaction, the executive vice president owned 28,406 shares of the company’s stock, valued at approximately $4,462,582.60. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Cullen/Frost Bankers Stock Performance
CFR stock opened at $159.67 on Thursday. The stock has a market capitalization of $9.93 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.70 and a beta of 0.52. Cullen/Frost Bankers, Inc. has a 12-month low of $119.14 and a 12-month high of $170.80. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $157.53 and its 200 day simple moving average is $149.17.
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last issued its earnings results on Thursday, October 29th. The bank reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $603.83 million for the quarter, compared to the consensus estimate of $610.19 million. Cullen/Frost Bankers had a return on equity of 16.27% and a net margin of 23.37%. During the same period last year, the business posted $2.67 EPS. As a group, research analysts forecast that Cullen/Frost Bankers, Inc. will post 11.00 earnings per share for the current fiscal year.
Cullen/Frost Bankers Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, November 30th. Cullen/Frost Bankers’s dividend payout ratio is presently 38.33%.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods downgraded Cullen/Frost Bankers from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $180.00 to $175.00 in a report on Monday. 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. Stephens raised their price target on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Wall Street Zen raised shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Morgan Stanley lifted 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 note on Monday, September 28th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target of $171.55.
Check Out Our Latest Research Report on CFR
Hedge Funds Weigh In On Cullen/Frost Bankers
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Cullen/Frost Bankers in the 2nd quarter worth $1,133,453,000. Jupiter Topco LLC purchased a new position in Cullen/Frost Bankers during the second quarter valued at $94,297,000. William Blair Investment Management LLC bought a new stake in Cullen/Frost Bankers during the second quarter valued at about $89,425,000. The Manufacturers Life Insurance Company bought a new stake in Cullen/Frost Bankers during the second quarter valued at about $80,127,000. Finally, Bank of New York Mellon Corp bought a new stake in Cullen/Frost Bankers during the second quarter valued at about $79,846,000. 86.90% of the stock is owned by institutional investors.
Cullen/Frost Bankers Company Profile
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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