Keefe, Bruyette & Woods Reaffirms Hold Rating for Cullen/Frost Bankers, Inc. (CFR)
Keefe, Bruyette & Woods reissued their hold rating on shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in a research report released on Friday morning. They currently have a $95.00 price objective on the bank’s stock.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Cullen/Frost Bankers from a hold rating to a buy rating and set a $110.00 target price on the stock in a research report on Tuesday, June 13th. Maxim Group reiterated a buy rating and issued a $105.00 price target on shares of Cullen/Frost Bankers in a report on Thursday, July 27th. Stephens set a $97.00 price target on Cullen/Frost Bankers and gave the company a hold rating in a report on Thursday, July 27th. BidaskClub raised Cullen/Frost Bankers from a sell rating to a hold rating in a research note on Wednesday, July 5th. Finally, Raymond James Financial, Inc. reissued a market perform rating on shares of Cullen/Frost Bankers in a research note on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $95.13.
Cullen/Frost Bankers (NYSE:CFR) opened at 94.92 on Friday. The firm’s 50 day moving average price is $87.20 and its 200-day moving average price is $90.93. The stock has a market cap of $6.10 billion, a P/E ratio of 18.70 and a beta of 1.33. Cullen/Frost Bankers has a 12-month low of $69.63 and a 12-month high of $99.20.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 27th. The bank reported $1.29 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.29. The firm had revenue of $295.87 million for the quarter, compared to analysts’ expectations of $316.40 million. Cullen/Frost Bankers had a net margin of 28.92% and a return on equity of 11.05%. During the same period in the prior year, the business posted $1.11 earnings per share. Equities research analysts anticipate that Cullen/Frost Bankers will post $5.22 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.57 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $2.28 annualized dividend and a yield of 2.40%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 44.79%.
Several hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. boosted its holdings in shares of Cullen/Frost Bankers by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,259 shares of the bank’s stock valued at $494,000 after buying an additional 14 shares in the last quarter. Somerset Trust Co grew its position in shares of Cullen/Frost Bankers by 0.4% in the 2nd quarter. Somerset Trust Co now owns 6,938 shares of the bank’s stock worth $651,000 after buying an additional 29 shares during the last quarter. Mosaic Family Wealth LLC grew its position in shares of Cullen/Frost Bankers by 4.9% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,718 shares of the bank’s stock worth $161,000 after buying an additional 80 shares during the last quarter. Synovus Financial Corp raised its stake in shares of Cullen/Frost Bankers by 2.6% during the 2nd quarter. Synovus Financial Corp now owns 3,254 shares of the bank’s stock worth $306,000 after acquiring an additional 84 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Cullen/Frost Bankers by 6.4% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 1,791 shares of the bank’s stock worth $168,000 after acquiring an additional 107 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.
About Cullen/Frost Bankers
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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