Cullen/Frost Bankers Inc. (NYSE:CFR) had its price objective dropped by research analysts at Barclays PLC from $72.00 to $69.00 in a note issued to investors on Tuesday. The brokerage presently has an “underweight” rating on the stock. Barclays PLC’s price objective points to a potential downside of 5.00% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Cullen/Frost Bankers from $55.00 to $58.00 and gave the stock an “underweight” rating in a research note on Thursday, July 7th. Zacks Investment Research cut Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Wedbush initiated coverage on Cullen/Frost Bankers in a research note on Thursday, October 6th. They set a “neutral” rating and a $68.00 price objective on the stock. Vetr cut Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price objective on the stock. in a research note on Tuesday, June 28th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $70.00 price target (up previously from $63.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 28th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.83.
Cullen/Frost Bankers (NYSE:CFR) opened at 72.63 on Tuesday. The firm’s 50 day moving average price is $71.30 and its 200-day moving average price is $65.58. Cullen/Frost Bankers has a one year low of $42.41 and a one year high of $74.12. The company has a market capitalization of $4.51 billion, a PE ratio of 17.16 and a beta of 1.11.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.06. Cullen/Frost Bankers had a return on equity of 9.67% and a net margin of 24.81%. During the same quarter in the previous year, the company posted $1.11 EPS. Equities analysts forecast that Cullen/Frost Bankers will post $4.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Monday, August 29th. Cullen/Frost Bankers’s payout ratio is currently 50.82%.
In related news, insider Candace K. Wolfshohl sold 4,500 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $69.88, for a total value of $314,460.00. Following the sale, the insider now directly owns 8,145 shares of the company’s stock, valued at $569,172.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Phillip D. Green sold 13,500 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $69.42, for a total value of $937,170.00. Following the completion of the sale, the chairman now directly owns 49,763 shares in the company, valued at $3,454,547.46. The disclosure for this sale can be found here. 8.03% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in Cullen/Frost Bankers by 12.7% in the first quarter. Wellington Management Group LLP now owns 599,782 shares of the company’s stock valued at $33,053,000 after buying an additional 67,792 shares during the period. Geode Capital Management LLC raised its stake in Cullen/Frost Bankers by 6.3% in the first quarter. Geode Capital Management LLC now owns 337,276 shares of the company’s stock valued at $18,587,000 after buying an additional 20,062 shares during the period. Goldman Sachs Group Inc. raised its stake in Cullen/Frost Bankers by 24.7% in the first quarter. Goldman Sachs Group Inc. now owns 277,547 shares of the company’s stock valued at $15,295,000 after buying an additional 54,902 shares during the period. Riverhead Capital Management LLC raised its stake in Cullen/Frost Bankers by 971.1% in the first quarter. Riverhead Capital Management LLC now owns 110,327 shares of the company’s stock valued at $6,080,000 after buying an additional 100,027 shares during the period. Finally, Rafferty Asset Management LLC raised its stake in Cullen/Frost Bankers by 862.4% in the first quarter. Rafferty Asset Management LLC now owns 50,392 shares of the company’s stock valued at $2,777,000 after buying an additional 45,156 shares during the period. 84.76% 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 and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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