Cullen/Frost Bankers (NYSE:CFR) Sets New 52-Week High After Analyst Upgrade

Key Points

• Cullen/Frost Bankers shares hit a new 52-week high after TD Cowen raised its price target from $169 to $185 and maintained a buy rating. The stock reached $169.68, while the broader analyst consensus remains “Hold” with an average target of $159.15.
• The bank exceeded quarterly expectations, reporting $2.70 in EPS versus the $2.55 consensus and revenue of $608.65 million versus estimates of $589.72 million.
• Cullen/Frost declared a quarterly dividend of $1.03 per share, equivalent to $4.12 annually and a 2.4% yield; the dividend is payable September 15 to shareholders of record August 31.

Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report)'s stock price reached a new 52-week high on Monday after TD Cowen raised their price target on the stock from $169.00 to $185.00. TD Cowen currently has a buy rating on the stock. Cullen/Frost Bankers traded as high as $169.68 and last traded at $169.1610, with a volume of 417319 shares trading hands. The stock had previously closed at $166.34.

A number of other research firms have also issued reports on CFR. DA Davidson boosted their price objective on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Jefferies Financial Group upgraded Cullen/Frost Bankers from an "underperform" rating to a "hold" rating and boosted their price objective for the stock from $135.00 to $160.00 in a research report on Monday, July 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 15th. Barclays raised their target price on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 7th. Finally, Citigroup increased their price objective on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a "sell" rating in a report on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers has a consensus rating of "Hold" and an average target price of $159.15.

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Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Carol Jean Severyn sold 837 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction 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 approximately $1,885,062.48. The trade was a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.14% of the company's stock.

Institutional Trading of Cullen/Frost Bankers

Institutional investors have recently modified their holdings of 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% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank's stock valued at $31,000 after buying an additional 100 shares in the last quarter. Blue Trust Inc. grew its position in Cullen/Frost Bankers by 252.1% in the fourth quarter. Blue Trust Inc. now owns 257 shares of the bank's stock valued at $33,000 after acquiring an additional 184 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in Cullen/Frost Bankers during the first quarter worth $41,000. Finally, Geneos Wealth Management Inc. raised its stake in Cullen/Frost Bankers by 40.8% during the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank's stock worth $46,000 after acquiring an additional 106 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Performance

The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $151.51 and a 200-day simple moving average of $143.68. The company has a market capitalization of $10.62 billion, a P/E ratio of 15.99, a PEG ratio of 2.91 and a beta of 0.53.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.15. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. The company had revenue of $608.65 million during the quarter, compared to analysts' expectations of $589.72 million. During the same quarter in the previous year, the company posted $2.39 earnings per share. Equities analysts forecast that Cullen/Frost Bankers, Inc. will post 10.79 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

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

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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