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

Key Points

• Cullen/Frost Bankers hit a new 52-week high, trading as high as $157.69, as shares continued to outperform their recent averages.
• Recent analyst actions were mixed, but the stock now carries a Hold consensus rating with an average price target of $151.92, below its current trading level.
• The bank beat quarterly EPS expectations and also raised its dividend to $1.03 per share, putting the annualized yield at about 2.6%.

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $157.69 and last traded at $157.4150, with a volume of 461053 shares. The stock had previously closed at $156.86.

Analysts Set New Price Targets

Several analysts have recently weighed in on CFR shares. Raymond James Financial restated a "market perform" rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. TD Cowen raised Cullen/Frost Bankers to a "strong-buy" rating in a report on Monday, April 13th. DA Davidson raised their price objective on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Stephens upgraded Cullen/Frost Bankers from an "equal weight" rating to an "overweight" rating and set a $164.00 price objective for the company in a research note on Tuesday, May 5th. Finally, Barclays lifted their price objective on Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of "Hold" and an average target price of $151.92.

Cullen/Frost Bankers Stock Performance

The company has a fifty day moving average of $144.18 and a two-hundred day moving average of $140.34. The stock has a market capitalization of $9.91 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65.

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

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.6%. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $1.00. The ex-dividend date was Friday, May 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is 40.12%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers 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 of the company's stock, valued at $1,885,062.48. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisory Services Network LLC bought a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at about $28,000. Covestor Ltd boosted its stake in Cullen/Frost Bankers by 67.6% in the fourth quarter. Covestor Ltd now owns 248 shares of the bank's stock valued at $31,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. grew its holdings in shares of Cullen/Frost Bankers by 252.1% during the fourth quarter. Blue Trust Inc. now owns 257 shares of the bank's stock valued at $33,000 after purchasing an additional 184 shares during the last quarter. Community Bank N.A. bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth approximately $35,000. Finally, Matrix Trust Co grew its stake 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 buying an additional 92 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 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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