Cullen/Frost Bankers (NYSE:CFR) Sets New 52-Week High – What’s Next?

Cullen/Frost Bankers, Inc. (NYSE:CFR)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $125.30 and last traded at $125.25, with a volume of 217118 shares. The stock had previously closed at $123.06.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Evercore ISI cut their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Stephens upped their target price on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Wedbush cut their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Finally, Maxim Group upped their price objective on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $121.31.

Cullen/Frost Bankers Price Performance

The stock has a market capitalization of $8.04 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 1.52 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. The stock has a 50-day simple moving average of $112.53 and a 200 day simple moving average of $107.95.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly 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 net margin of 19.51% and a return on equity of 17.43%. The company had revenue of $528.81 million during the quarter, compared to analysts’ expectations of $506.83 million. During the same quarter in the previous year, the company earned $2.47 EPS. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.59 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.95 dividend. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, August 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 44.92%.

Insider Activity at Cullen/Frost Bankers

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

Institutional Investors Weigh In On Cullen/Frost Bankers

Several large investors have recently modified their holdings of CFR. CWM LLC lifted its stake in Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after buying an additional 106 shares in the last quarter. Ballentine Partners LLC bought a new position in Cullen/Frost Bankers during the 1st quarter worth about $211,000. Cardinal Capital Management raised its stake in shares of Cullen/Frost Bankers by 27.5% in the 1st quarter. Cardinal Capital Management now owns 13,338 shares of the bank’s stock valued at $1,501,000 after purchasing an additional 2,879 shares during the period. Hodges Capital Management Inc. lifted its holdings in shares of Cullen/Frost Bankers by 4.6% in the first quarter. Hodges Capital Management Inc. now owns 5,787 shares of the bank’s stock valued at $651,000 after purchasing an additional 252 shares in the last quarter. Finally, First Dallas Securities Inc. boosted its position in shares of Cullen/Frost Bankers by 18.6% during the first quarter. First Dallas Securities Inc. now owns 5,284 shares of the bank’s stock worth $595,000 after buying an additional 828 shares during the period. 86.90% of the stock is currently owned by institutional investors.

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.