Cullen/Frost Bankers, Inc. (NYSE:CFR) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on Cullen/Frost Bankers, with two sell, seven hold, four buy and one strong-buy rating. The average 12-month price target is $161.75, below the stock’s $164.27 opening price.
• Cullen/Frost reported quarterly EPS of $2.70, exceeding the $2.55 analyst estimate, although revenue of $576.01 million fell short of the $589.72 million consensus forecast.
• The bank declared a quarterly dividend of $1.03 per share, equivalent to $4.12 annually and a 2.5% yield; institutional investors own 86.9% of the company’s shares.

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) have been assigned a consensus rating of "Hold" from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $161.75.

Several equities analysts have recently issued reports on CFR shares. Citigroup boosted their price objective on Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a "sell" rating in a report on Tuesday, June 30th. TD Cowen raised their target price on Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Barclays lifted their price target on Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. Jefferies Financial Group raised Cullen/Frost Bankers from an "underperform" rating to a "hold" rating and boosted their price target for the company from $135.00 to $160.00 in a report on Monday, July 6th. Finally, Royal Bank Of Canada upped their price objective on Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a "sector perform" rating in a research report on Friday, July 31st.

Cullen/Frost Bankers Stock Up 0.1%

NYSE:CFR opened at $164.27 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. The company's fifty day moving average price is $160.02 and its 200-day moving average price is $146.86. Cullen/Frost Bankers has a 1-year low of $119.00 and a 1-year high of $170.80. The firm has a market capitalization of $10.21 billion, a P/E ratio of 15.53, a PEG ratio of 2.52 and a beta of 0.53.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.15. The company had revenue of $576.01 million during the quarter, compared to the consensus estimate of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same period in the previous year, the firm posted $2.39 earnings per share. As a group, equities research analysts anticipate that Cullen/Frost Bankers will post 10.9 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 31st. Cullen/Frost Bankers's payout ratio is 38.94%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Carol Jean Severyn sold 837 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $148.29, for a total transaction of $124,118.73. Following the sale, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.14% of the company's stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds have recently modified their holdings of the company. First Eagle Investment Management LLC grew its position in shares of Cullen/Frost Bankers by 22.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank's stock valued at $429,204,000 after acquiring an additional 511,784 shares during the period. California State Teachers Retirement System boosted its position in Cullen/Frost Bankers by 14,678.3% during the second quarter. California State Teachers Retirement System now owns 10,701,283 shares of the bank's stock worth $1,653,562,000 after purchasing an additional 10,628,871 shares in the last quarter. Wedmont Private Capital purchased a new position in Cullen/Frost Bankers during the second quarter worth approximately $202,000. HB Wealth Management LLC boosted its position in Cullen/Frost Bankers by 6.0% during the second quarter. HB Wealth Management LLC now owns 4,752 shares of the bank's stock worth $734,000 after purchasing an additional 267 shares in the last quarter. Finally, MOR Wealth Management LLC acquired a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $274,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.

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