Cullen/Frost Bankers (NYSE:CFR) Rating Reiterated by Wedbush

Wedbush reiterated their neutral rating on shares of Cullen/Frost Bankers (NYSE:CFR) in a report issued on Friday morning, Benzinga reports. They currently have a $115.00 price objective on the bank’s stock. Wedbush also issued estimates for Cullen/Frost Bankers’ Q2 2024 earnings at $2.03 EPS, Q3 2024 earnings at $2.10 EPS, Q4 2024 earnings at $2.22 EPS, FY2024 earnings at $8.50 EPS and Q1 2025 earnings at $2.02 EPS.

CFR has been the subject of several other reports. Keefe, Bruyette & Woods dropped their price target on Cullen/Frost Bankers from $125.00 to $118.00 and set a market perform rating for the company in a research note on Friday, January 26th. Royal Bank of Canada restated a sector perform rating and issued a $118.00 price target on shares of Cullen/Frost Bankers in a research note on Tuesday, April 9th. DA Davidson restated a buy rating and issued a $126.00 price target on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. JPMorgan Chase & Co. upped their price target on Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an overweight rating in a research note on Thursday, April 4th. Finally, Morgan Stanley upped their price objective on Cullen/Frost Bankers from $109.00 to $115.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $117.92.

Cullen/Frost Bankers Trading Down 3.3 %

Cullen/Frost Bankers stock opened at $107.05 on Friday. The business has a 50-day simple moving average of $109.17 and a two-hundred day simple moving average of $103.82. The company has a market cap of $6.87 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.37 and a beta of 1.03. Cullen/Frost Bankers has a 52-week low of $82.25 and a 52-week high of $120.31. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.69% and a net margin of 26.26%. During the same quarter in the prior year, the firm posted $2.70 earnings per share. Analysts predict that Cullen/Frost Bankers will post 8.49 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Friday, May 31st. Cullen/Frost Bankers’s payout ratio is currently 43.50%.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, 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 value of $1,074,308.00. Following the completion of the sale, the insider now directly owns 96,380 shares in the company, valued at $10,543,972. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was 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 $10,543,972. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was 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 owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc raised its holdings in shares of Cullen/Frost Bankers by 1,604.8% in the 3rd quarter. IFP Advisors Inc now owns 1,432 shares of the bank’s stock valued at $131,000 after buying an additional 1,348 shares during the period. SG Americas Securities LLC grew its stake in Cullen/Frost Bankers by 92.9% during the 3rd quarter. SG Americas Securities LLC now owns 20,657 shares of the bank’s stock worth $1,884,000 after purchasing an additional 9,950 shares in the last quarter. Callahan Advisors LLC grew its stake in Cullen/Frost Bankers by 1.5% during the 3rd quarter. Callahan Advisors LLC now owns 52,809 shares of the bank’s stock worth $4,817,000 after purchasing an additional 783 shares in the last quarter. Raymond James & Associates grew its stake in Cullen/Frost Bankers by 15.1% during the 3rd quarter. Raymond James & Associates now owns 203,802 shares of the bank’s stock worth $18,589,000 after purchasing an additional 26,670 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cullen/Frost Bankers by 28.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,213 shares of the bank’s stock worth $932,000 after purchasing an additional 2,264 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

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.