Cullen/Frost Bankers, Inc. (NYSE:CFR) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Cullen/Frost Bankers, Inc. has received a consensus recommendation of "Reduce" from 14 brokerages, with three analysts recommending a sell, nine a hold, and two a buy.
• The average twelve-month price target set by analysts for Cullen/Frost Bankers is $133.71, reflecting a decrease in price targets from firms like Raymond James and Barclays.
• Recently, Cullen/Frost Bankers announced a quarterly dividend of $1.00, yielding 3.2%, with a dividend payout ratio of 43.06%.

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) have been given a consensus recommendation of "Reduce" by the fourteen research firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $133.7143.

A number of brokerages have recently issued reports on CFR. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price for the company in a research report on Friday, May 2nd. Raymond James Financial decreased their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. Stephens raised their target price on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Barclays cut their price target on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Finally, Jefferies Financial Group initiated coverage on Cullen/Frost Bankers in a research note on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price objective on the stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC increased its holdings in shares of Cullen/Frost Bankers by 8.0% during the second quarter. AlphaQuest LLC now owns 1,082 shares of the bank's stock worth $139,000 after buying an additional 80 shares in the last quarter. Cardinal Capital Management increased its holdings in Cullen/Frost Bankers by 0.5% in the 2nd quarter. Cardinal Capital Management now owns 17,824 shares of the bank's stock worth $2,291,000 after purchasing an additional 81 shares in the last quarter. LaSalle St. Investment Advisors LLC raised its position in Cullen/Frost Bankers by 4.0% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,165 shares of the bank's stock valued at $271,000 after purchasing an additional 84 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Cullen/Frost Bankers by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank's stock valued at $2,327,000 after purchasing an additional 100 shares in the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of Cullen/Frost Bankers by 0.7% during the second quarter. State of Michigan Retirement System now owns 15,464 shares of the bank's stock worth $1,988,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock traded down $0.03 on Friday, hitting $126.17. The stock had a trading volume of 34,988 shares, compared to its average volume of 439,401. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 2.62 and a beta of 0.70. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers has a twelve month low of $100.31 and a twelve month high of $147.64. The business's 50 day moving average is $130.10 and its two-hundred day moving average is $127.38.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.11. The firm had revenue of $567.83 million for the quarter, compared to analyst estimates of $552.04 million. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%. During the same period in the prior year, the firm posted $2.21 EPS. Analysts forecast that Cullen/Frost Bankers will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio is currently 43.06%.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.