Cullen/Frost Bankers (NYSE:CFR) Hits New 52-Week High - Here's Why

Key Points

• Cullen/Frost Bankers hit a new 52-week high, trading as high as $164.00 as investors pushed the stock above its prior close.
• Analysts remain cautious overall: several firms recently raised price targets, but the stock’s consensus rating is still Hold with an average target price of $152.42.
• The bank posted solid recent results, including $2.65 EPS that beat estimates, and it also raised its quarterly dividend to $1.03 per share from $1.00.

Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $164.00 and last traded at $162.4290, with a volume of 246 shares changing hands. The stock had previously closed at $162.43.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays increased their price target on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. Cantor Fitzgerald upped their target price on shares of Cullen/Frost Bankers from $154.00 to $158.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. DA Davidson increased their target price on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. Raymond James Financial reissued a "market perform" rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Finally, TD Cowen upgraded shares of Cullen/Frost Bankers to a "strong-buy" rating in a research note on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $152.42.

Cullen/Frost Bankers Price Performance

The stock has a fifty day moving average of $147.14 and a 200-day moving average of $141.92. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 2.89 and a beta of 0.54.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, beating the consensus estimate of $2.49 by $0.16. The company had revenue of $574.84 million for the quarter, compared to analyst estimates of $587.28 million. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. During the same period in the prior year, the firm posted $2.30 earnings per share. On average, equities research analysts predict that Cullen/Frost Bankers, Inc. will post 10.57 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a $1.03 dividend. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, May 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. Cullen/Frost Bankers's payout ratio is 40.12%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cullen/Frost Bankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at $28,000. Covestor Ltd boosted its stake in Cullen/Frost Bankers by 67.6% during the 4th quarter. Covestor Ltd now owns 248 shares of the bank's stock worth $31,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. boosted its stake in Cullen/Frost Bankers by 252.1% during the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank's stock worth $33,000 after purchasing an additional 184 shares during the period. Matrix Trust Co grew its position in Cullen/Frost Bankers by 40.4% during the 4th quarter. Matrix Trust Co now owns 320 shares of the bank's stock worth $41,000 after purchasing an additional 92 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in Cullen/Frost Bankers during the 1st quarter worth $41,000. Hedge funds and other 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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