Cullen/Frost Bankers, Inc. to Issue Quarterly Dividend of $1.00 (NYSE:CFR)

Key Points

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Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Shareholders of record on Friday, August 29th will be paid a dividend of 1.00 per share by the bank on Monday, September 15th. This represents a $4.00 annualized dividend and a yield of 3.01%.

Cullen/Frost Bankers has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cullen/Frost Bankers to earn $8.91 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 44.9%.

Cullen/Frost Bankers Price Performance

Shares of CFR traded down $1.35 during trading hours on Thursday, reaching $132.69. 72,794 shares of the company's stock traded hands, compared to its average volume of 426,839. The stock has a market cap of $8.53 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 2.86 and a beta of 0.68. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The firm's 50 day simple moving average is $130.73 and its 200-day simple moving average is $128.92. Cullen/Frost Bankers has a 12 month low of $100.31 and a 12 month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.12. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. Equities analysts expect that Cullen/Frost Bankers will post 8.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada lowered their price objective on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Barclays lifted their price target on Cullen/Frost Bankers from $135.00 to $155.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Raymond James Financial raised Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a research report on Tuesday, July 8th. Jefferies Financial Group assumed coverage on Cullen/Frost Bankers in a research report on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price target for the company. Finally, Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective for the company in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $134.79.

Insider Buying and Selling

In related news, CAO Matthew Bradley Henson acquired 1,870 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was acquired at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the acquisition, the chief accounting officer directly owned 5,545 shares of the company's stock, valued at approximately $93,876.85. The trade was a 50.88% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.89% of the company's stock.

Institutional Trading of Cullen/Frost Bankers

Several institutional investors and hedge funds have recently added to or reduced their stakes in CFR. Geneos Wealth Management Inc. raised its holdings in shares of Cullen/Frost Bankers by 40.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank's stock valued at $46,000 after purchasing an additional 106 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cullen/Frost Bankers by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank's stock worth $20,896,000 after purchasing an additional 15,063 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Cullen/Frost Bankers by 61.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank's stock worth $75,833,000 after purchasing an additional 230,993 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

About Cullen/Frost Bankers

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.

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