Cullen/Frost Bankers (NYSE:CFR) Rating Reiterated by Wedbush

Wedbush reissued their neutral rating on shares of Cullen/Frost Bankers (NYSE:CFR - Free Report) in a research report sent to investors on Friday, Benzinga reports. Wedbush currently has a $115.00 price target on the bank's stock.

A number of other brokerages have also recently issued reports on CFR. Jefferies Financial Group increased their target price on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a hold rating in a report on Monday, April 8th. Evercore ISI raised their price objective on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an underperform rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. raised their price objective on shares of Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an overweight rating in a research note on Thursday, April 4th. Compass Point cut shares of Cullen/Frost Bankers from a buy rating to a neutral rating in a research note on Monday, January 8th. Finally, DA Davidson reissued a buy rating and set a $126.00 price objective on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $117.92.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock traded down $3.68 during mid-day trading on Friday, reaching $107.05. The company had a trading volume of 606,841 shares, compared to its average volume of 422,555. Cullen/Frost Bankers has a 1 year low of $82.25 and a 1 year high of $120.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $6.87 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.45 and a beta of 1.03. The stock's 50-day simple moving average is $109.20 and its 200-day simple moving average is $103.71.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. During the same period in the previous year, the firm earned $2.70 earnings per share. On average, equities analysts predict that Cullen/Frost Bankers will post 8.49 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 3.44%. Cullen/Frost Bankers's dividend payout ratio is presently 40.44%.

Insider Activity

In other news, EVP Bobby Berman sold 1,312 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the sale, the executive vice president now directly owns 27,815 shares of the company's stock, valued at approximately $2,934,204.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Bobby Berman sold 1,312 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the sale, the executive vice president now directly owns 27,815 shares of the company's stock, valued at approximately $2,934,204.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Bracher sold 9,820 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the sale, the insider now directly owns 96,380 shares of the company's stock, valued at $10,543,972. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company's stock.

Institutional Trading of Cullen/Frost Bankers

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Cullen/Frost Bankers by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank's stock worth $695,729,000 after purchasing an additional 19,755 shares during the period. FMR LLC lifted its holdings in Cullen/Frost Bankers by 6.3% in the 3rd quarter. FMR LLC now owns 1,476,411 shares of the bank's stock worth $134,663,000 after buying an additional 88,042 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Cullen/Frost Bankers by 44.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank's stock worth $86,619,000 after buying an additional 244,197 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cullen/Frost Bankers by 20.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 787,599 shares of the bank's stock worth $85,451,000 after buying an additional 131,726 shares in the last quarter. Finally, Norges Bank acquired a new position in Cullen/Frost Bankers in the 4th quarter worth $72,627,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.