Cullen/Frost Bankers (NYSE:CFR) Hits New 12-Month High - What's Next?

Key Points

• Cullen/Frost Bankers shares reached a new 52-week high of $170.35, supported by improving analyst sentiment, although the overall consensus remains “Hold” with an average price target of $160.33.
• The bank exceeded quarterly expectations, reporting $2.70 in EPS versus the $2.55 estimate and revenue of $608.65 million versus $589.72 million expected.
• Cullen/Frost declared a quarterly dividend of $1.03, equivalent to $4.12 annually and a 2.4% yield; institutional investors own 86.9% of the company, while an executive recently sold shares.

Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) shares hit a new 52-week high on Friday . The company traded as high as $170.35 and last traded at $169.5710, with a volume of 58881 shares trading hands. The stock had previously closed at $168.59.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CFR shares. Jefferies Financial Group upgraded Cullen/Frost Bankers from an "underperform" rating to a "hold" rating and raised their price target for the stock from $135.00 to $160.00 in a research note on Monday, July 6th. Stephens increased their target price on Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 15th. Zacks Research raised Cullen/Frost Bankers from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Finally, Cantor Fitzgerald boosted their price target on Cullen/Frost Bankers from $154.00 to $158.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $160.33.

Cullen/Frost Bankers Stock Performance

The company has a market cap of $10.54 billion, a P/E ratio of 16.02, a PEG ratio of 2.60 and a beta of 0.53. The business's 50 day simple moving average is $156.92 and its 200 day simple moving average is $145.45. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.15. The business had revenue of $608.65 million during the quarter, compared to analyst estimates 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 prior year, the business posted $2.39 earnings per share. Sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 10.8 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.12 annualized dividend and a yield of 2.4%. Cullen/Frost Bankers's dividend payout ratio is currently 38.94%.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the sale, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. This represents a 6.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.14% of the company's stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Hedge funds have recently made changes to their positions in the business. M&T Bank Corp raised its stake in Cullen/Frost Bankers by 13.5% during the fourth quarter. M&T Bank Corp now owns 109,154 shares of the bank's stock valued at $13,822,000 after purchasing an additional 12,990 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Cullen/Frost Bankers by 863.1% in the 4th quarter. Concurrent Investment Advisors LLC now owns 21,448 shares of the bank's stock worth $2,716,000 after buying an additional 19,221 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Cullen/Frost Bankers by 3.7% in the 4th quarter. ProShare Advisors LLC now owns 268,194 shares of the bank's stock worth $33,961,000 after buying an additional 9,612 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Cullen/Frost Bankers by 52.8% in the 4th quarter. Verition Fund Management LLC now owns 130,944 shares of the bank's stock worth $16,581,000 after buying an additional 45,254 shares during the last quarter. Finally, Whittier Trust Co. raised its position in shares of Cullen/Frost Bankers by 10.6% during the 1st quarter. Whittier Trust Co. now owns 73,835 shares of the bank's stock valued at $10,332,000 after buying an additional 7,061 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

About Cullen/Frost Bankers

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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