Cullen/Frost Bankers, Inc. (CFR) Receives “Hold” Rating from Piper Jaffray Companies
Piper Jaffray Companies restated their hold rating on shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in a research report released on Friday morning. Piper Jaffray Companies currently has a $100.00 target price on the bank’s stock.
Several other equities research analysts also recently issued reports on CFR. Keefe, Bruyette & Woods set a $94.00 target price on Cullen/Frost Bankers and gave the stock a hold rating in a research report on Monday, April 3rd. Raymond James Financial, Inc. started coverage on Cullen/Frost Bankers in a research report on Thursday, April 6th. They set a market perform rating on the stock. Zacks Investment Research downgraded Cullen/Frost Bankers from a buy rating to a hold rating in a research report on Thursday, April 6th. Royal Bank Of Canada restated a sector perform rating and set a $99.00 target price (up previously from $93.00) on shares of Cullen/Frost Bankers in a research report on Thursday, April 27th. Finally, Wedbush upgraded Cullen/Frost Bankers from an underperform rating to a neutral rating and set a $92.00 target price on the stock in a research report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $95.33.
Cullen/Frost Bankers (NYSE CFR) opened at 90.78 on Friday. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 17.88 and a beta of 1.33. Cullen/Frost Bankers has a 1-year low of $65.07 and a 1-year high of $99.20. The firm’s 50-day moving average price is $94.98 and its 200-day moving average price is $91.91.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 EPS for the quarter, meeting the consensus estimate of $1.29. The business had revenue of $295.87 million for the quarter, compared to the consensus estimate of $316.40 million. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. During the same quarter in the prior year, the business earned $1.11 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers will post $5.31 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $2.28 annualized dividend and a dividend yield of 2.51%. Cullen/Frost Bankers’s payout ratio is currently 44.79%.
In other news, Director Graham M. Weston bought 22,081 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average price of $90.56 per share, with a total value of $1,999,655.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.15% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris Inc. boosted its position in Cullen/Frost Bankers by 1.3% in the first quarter. Sanders Morris Harris Inc. now owns 14,616 shares of the bank’s stock worth $1,300,000 after buying an additional 181 shares in the last quarter. Ledyard National Bank boosted its position in Cullen/Frost Bankers by 2.2% in the first quarter. Ledyard National Bank now owns 90,269 shares of the bank’s stock worth $8,031,000 after buying an additional 1,944 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Cullen/Frost Bankers by 5.7% in the first quarter. Nisa Investment Advisors LLC now owns 55,410 shares of the bank’s stock worth $4,930,000 after buying an additional 3,000 shares in the last quarter. Coastline Trust Co boosted its position in Cullen/Frost Bankers by 3.8% in the first quarter. Coastline Trust Co now owns 25,840 shares of the bank’s stock worth $2,299,000 after buying an additional 955 shares in the last quarter. Finally, Evanson Asset Management LLC purchased a new position in Cullen/Frost Bankers during the first quarter worth approximately $245,000. 80.83% of the stock is currently owned by institutional investors and hedge funds.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
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