Cullen/Frost Bankers (NYSE:CFR) Sets New 1-Year High on Analyst Upgrade

Cullen/Frost Bankers, Inc. (NYSE:CFR) hit a new 52-week high on Wednesday after Compass Point raised their price target on the stock from $111.00 to $122.00. Compass Point currently has a neutral rating on the stock. Cullen/Frost Bankers traded as high as $139.00 and last traded at $138.21, with a volume of 5098 shares changing hands. The stock had previously closed at $127.58.

Several other equities research analysts have also issued reports on the stock. DA Davidson lifted their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Evercore ISI reduced their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada upped their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Morgan Stanley dropped their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, September 30th. Finally, Maxim Group increased their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four equities 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $123.86.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the sale, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of hedge funds have recently bought and sold shares of CFR. Allspring Global Investments Holdings LLC increased its stake in Cullen/Frost Bankers by 40.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank’s stock valued at $155,000 after purchasing an additional 395 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Cullen/Frost Bankers by 35.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,573 shares of the bank’s stock worth $1,866,000 after acquiring an additional 4,317 shares during the last quarter. Capstone Investment Advisors LLC lifted its position in Cullen/Frost Bankers by 68.8% in the 1st quarter. Capstone Investment Advisors LLC now owns 3,993 shares of the bank’s stock valued at $449,000 after acquiring an additional 1,628 shares in the last quarter. Whittier Trust Co. boosted its stake in Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after purchasing an additional 186 shares during the last quarter. Finally, Avidian Wealth Solutions LLC purchased a new stake in Cullen/Frost Bankers during the 1st quarter valued at $254,000. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Up 8.9 %

The stock has a fifty day simple moving average of $116.22 and a 200 day simple moving average of $109.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $8.91 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The company had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same period last year, the company earned $2.38 EPS. Cullen/Frost Bankers’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

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.