Cullen/Frost Bankers (NYSE:CFR) Issues Earnings Results

Cullen/Frost Bankers (NYSE:CFR) issued its quarterly earnings data on Thursday. The bank reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02, Briefing.com reports. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. During the same period in the prior year, the company earned $2.70 earnings per share.

Cullen/Frost Bankers Trading Down 3.3 %

Shares of CFR stock traded down $3.65 during trading on Friday, hitting $107.08. 606,841 shares of the stock traded hands, compared to its average volume of 422,555. The firm has a market capitalization of $6.88 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.45 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 debt-to-equity ratio of 0.06, a current ratio of 0.63 and a quick ratio of 0.63. The firm’s fifty day moving average price is $109.20 and its 200-day moving average price is $103.71.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.44%. Cullen/Frost Bankers’s dividend payout ratio is currently 40.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CFR shares. Truist Financial increased their price target on Cullen/Frost Bankers from $114.00 to $121.00 and gave the stock a “hold” rating in a research report on Monday, April 1st. Jefferies Financial Group lifted their target price on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a “hold” rating in a research report on Monday, April 8th. UBS Group upped their price target on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods cut their price objective 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. Finally, Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $117.92.

Insider Buying and Selling

In other news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the transaction, the executive vice president now owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the sale, the executive vice president now directly 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.

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.