Cullen/Frost Bankers (NYSE:CFR) Hits New 12-Month High – Here’s Why

Cullen/Frost Bankers, Inc. (NYSE:CFR)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $147.64 and last traded at $146.32, with a volume of 3226 shares trading hands. The stock had previously closed at $142.32.

Analysts Set New Price Targets

Several research firms have recently weighed in on CFR. Stephens raised their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Evercore ISI dropped their price target 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. Citigroup boosted their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Royal Bank of Canada raised their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Finally, Morgan Stanley reduced their price target on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus price target of $123.86.

Cullen/Frost Bankers Stock Performance

The stock has a market cap of $9.16 billion, a P/E ratio of 17.73, a PEG ratio of 1.73 and a beta of 0.98. The stock has a fifty day simple moving average of $124.74 and a 200-day simple moving average of $112.39. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.07. The business had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. Cullen/Frost Bankers’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.38 EPS. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.73 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.66%. Cullen/Frost Bankers’s payout ratio is presently 47.15%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the transaction, the chief executive officer now directly owns 94,423 shares of the company’s stock, valued at $13,026,597.08. This trade represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,864 shares of company stock valued at $2,977,033 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of Cullen/Frost Bankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Keene & Associates Inc. increased its stake in shares of Cullen/Frost Bankers by 1.7% during the 3rd quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after purchasing an additional 89 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Cullen/Frost Bankers by 7.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after buying an additional 97 shares during the last quarter. Asset Dedication LLC raised its stake in Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after buying an additional 105 shares during the period. GAMMA Investing LLC lifted its position in shares of Cullen/Frost Bankers by 18.5% in the third quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock valued at $76,000 after buying an additional 106 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cullen/Frost Bankers by 6.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock worth $237,000 after acquiring an additional 137 shares during the period. 86.90% of the stock is 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.