Cullen/Frost Bankers, Inc. (NYSE:CFR) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 2,392 call options on the company. This is an increase of 1,283% compared to the typical daily volume of 173 call options.
Several equities research analysts have recently issued reports on CFR shares. Morgan Stanley lifted their price objective on shares of Cullen/Frost Bankers from $85.00 to $90.00 and gave the stock an "underweight" rating in a research report on Wednesday, March 24th. Truist boosted their price target on shares of Cullen/Frost Bankers from $96.00 to $111.00 in a research report on Monday, March 8th. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a "hold" rating to a "strong-buy" rating and set a $128.00 price objective on the stock in a research note on Tuesday. Finally, Truist Securities boosted their price target on shares of Cullen/Frost Bankers from $96.00 to $111.00 and gave the stock a "hold" rating in a research note on Monday, March 15th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of "Hold" and an average target price of $88.00.
Shares of CFR traded down $2.36 during midday trading on Tuesday, hitting $108.92. The stock had a trading volume of 2,366 shares, compared to its average volume of 445,385. Cullen/Frost Bankers has a fifty-two week low of $55.53 and a fifty-two week high of $119.77. The business has a 50-day simple moving average of $110.74 and a two-hundred day simple moving average of $90.76. The firm has a market cap of $6.91 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 2.13 and a beta of 1.56. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Wednesday, January 27th. The bank reported $1.38 EPS for the quarter, topping the consensus estimate of $1.28 by $0.10. Cullen/Frost Bankers had a net margin of 22.81% and a return on equity of 6.68%. The business had revenue of $357.06 million during the quarter, compared to analysts' expectations of $351.61 million. During the same period last year, the company posted $1.60 earnings per share. On average, analysts expect that Cullen/Frost Bankers will post 3.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, February 26th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.64%. Cullen/Frost Bankers's dividend payout ratio is currently 42.11%.
In other news, Director Carlos Alvarez sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $99.12, for a total transaction of $3,964,800.00. Following the completion of the sale, the director now owns 414,000 shares in the company, valued at approximately $41,035,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bobby Berman sold 17,502 shares of the firm's stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $103.55, for a total transaction of $1,812,332.10. Following the sale, the executive vice president now owns 32,739 shares of the company's stock, valued at approximately $3,390,123.45. The disclosure for this sale can be found here. Insiders sold a total of 121,752 shares of company stock worth $12,463,335 over the last ninety days. 4.75% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. CI Investments Inc. raised its holdings in Cullen/Frost Bankers by 21.7% during the 4th quarter. CI Investments Inc. now owns 757 shares of the bank's stock worth $66,000 after purchasing an additional 135 shares during the last quarter. Bahl & Gaynor Inc. boosted its holdings in shares of Cullen/Frost Bankers by 3.7% in the 4th quarter. Bahl & Gaynor Inc. now owns 4,380 shares of the bank's stock valued at $382,000 after buying an additional 155 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Cullen/Frost Bankers by 0.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,788 shares of the bank's stock valued at $1,457,000 after buying an additional 158 shares during the last quarter. Lincoln National Corp boosted its holdings in shares of Cullen/Frost Bankers by 4.8% in the 4th quarter. Lincoln National Corp now owns 4,359 shares of the bank's stock valued at $380,000 after buying an additional 200 shares during the last quarter. Finally, Azimuth Capital Management LLC raised its stake in Cullen/Frost Bankers by 5.2% in the 4th quarter. Azimuth Capital Management LLC now owns 4,025 shares of the bank's stock valued at $351,000 after acquiring an additional 200 shares during the period. Institutional investors own 81.39% of the company's stock.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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