Cullen/Frost Bankers (NYSE:CFR) Reaches New 12-Month High – What’s Next?

Cullen/Frost Bankers, Inc. (NYSE:CFR) reached a new 52-week high on Tuesday . The stock traded as high as $123.23 and last traded at $123.23, with a volume of 60787 shares trading hands. The stock had previously closed at $120.00.

Analyst Upgrades and Downgrades

CFR has been the topic of several research reports. Citigroup lowered their price target on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a research note on Monday, September 30th. Stephens upped their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Evercore ISI decreased their price target on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Truist Financial dropped their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Finally, Royal Bank of Canada raised their price objective on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus price target of $121.31.

Cullen/Frost Bankers Stock Performance

The stock has a 50-day moving average of $111.18 and a 200 day moving average of $107.62. The firm has a market capitalization of $7.98 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The company had revenue of $528.81 million for the quarter, compared to analysts’ expectations of $506.83 million. During the same quarter in the prior year, the business earned $2.47 earnings per share. On average, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.59 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.95 dividend. The ex-dividend date was Friday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.06%. Cullen/Frost Bankers’s payout ratio is currently 44.92%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the transaction, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the sale, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.89% of the stock is owned by company insiders.

Institutional Trading of Cullen/Frost Bankers

Several institutional investors and hedge funds have recently made changes to their positions in CFR. Asset Dedication LLC grew its stake in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares during the period. CWM LLC increased its stake in shares of Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after acquiring an additional 106 shares during the last quarter. Whittier Trust Co. raised its position in shares of Cullen/Frost Bankers by 90.7% in the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after acquiring an additional 186 shares during the period. Abich Financial Wealth Management LLC bought a new position in Cullen/Frost Bankers during the 2nd quarter worth approximately $54,000. Finally, GAMMA Investing LLC grew its holdings in Cullen/Frost Bankers by 40.7% during the first quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock valued at $65,000 after purchasing an additional 166 shares during the period. Institutional investors own 86.90% of the company’s stock.

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.