Stephens Analysts Give Cullen/Frost Bankers, Inc. (NYSE:CFR) a $97.00 Price Target
Several other research firms have also recently issued reports on CFR. BidaskClub upgraded shares of Cullen/Frost Bankers from a sell rating to a hold rating in a research report on Wednesday, July 5th. Morgan Stanley restated an equal weight rating and set a $93.00 price objective (up from $90.00) on shares of Cullen/Frost Bankers in a research report on Thursday, July 6th. Raymond James Financial, Inc. restated a market perform rating on shares of Cullen/Frost Bankers in a research report on Tuesday, July 4th. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a hold rating to a buy rating and set a $106.00 price objective for the company in a research report on Tuesday, May 2nd. Finally, Keefe, Bruyette & Woods set a $94.00 price objective on shares of Cullen/Frost Bankers and gave the stock a hold rating in a research report on Monday, April 3rd. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $96.17.
Cullen/Frost Bankers (NYSE:CFR) opened at 91.55 on Thursday. The stock’s 50 day moving average is $95.18 and its 200 day moving average is $91.82. Cullen/Frost Bankers has a 52 week low of $65.07 and a 52 week high of $99.20. The stock has a market cap of $5.88 billion, a PE ratio of 18.02 and a beta of 1.33.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.29. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. The firm had revenue of $295.87 million during the quarter, compared to analysts’ expectations of $316.40 million. During the same period last year, the business earned $1.11 earnings per share. Analysts predict that Cullen/Frost Bankers will post $5.31 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Tuesday, August 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 44.79%.
In related news, Director Graham M. Weston purchased 22,081 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was acquired at an average cost of $90.56 per share, for a total transaction of $1,999,655.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.15% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Cullen/Frost Bankers by 16.5% in the first quarter. Vanguard Group Inc. now owns 5,356,366 shares of the bank’s stock worth $476,557,000 after buying an additional 758,710 shares in the last quarter. BlackRock Inc. raised its position in Cullen/Frost Bankers by 3,918.0% in the first quarter. BlackRock Inc. now owns 4,695,956 shares of the bank’s stock valued at $417,800,000 after buying an additional 4,579,082 shares during the last quarter. Neuberger Berman Group LLC raised its position in Cullen/Frost Bankers by 8.8% in the first quarter. Neuberger Berman Group LLC now owns 2,475,461 shares of the bank’s stock valued at $220,242,000 after buying an additional 200,811 shares during the last quarter. JPMorgan Chase & Co. raised its position in Cullen/Frost Bankers by 0.6% in the first quarter. JPMorgan Chase & Co. now owns 1,951,679 shares of the bank’s stock valued at $173,641,000 after buying an additional 12,321 shares during the last quarter. Finally, Aristotle Capital Management LLC raised its position in Cullen/Frost Bankers by 3.6% in the first quarter. Aristotle Capital Management LLC now owns 1,734,287 shares of the bank’s stock valued at $154,299,000 after buying an additional 60,197 shares during the last quarter. Institutional investors and hedge funds own 80.83% of the company’s stock.
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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