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. It also provides consumer banking services, such as checking accounts, savings programs, automated-teller machines (ATMs), overdraft facilities, installment and real estate loans, home equity loans and lines of credit, drive-in and night deposit services, safe deposit facilities, and brokerage services. In addition, the company offers international banking services comprising deposits, loans, letters of credit, foreign collections, funds, and foreign exchange services. Further, it acts as a correspondent for approximately 171 financial institutions; offers trust, investment, agency, and custodial services for individual and corporate clients; provides capital market services that include sales and trading, new issue underwriting, money market trading, advisory, and securities safekeeping and clearance; and supports international business activities. Additionally, the company offers insurance and securities brokerage services; and holds securities for investment purposes, as well as investment management services to Frost-managed mutual funds, institutions, and individuals. It operates approximately 157 financial centers and 1,650 ATMs. The company serves energy, manufacturing, services, construction, retail, telecommunications, healthcare, military, and transportation industries. Cullen/Frost Bankers, Inc. was founded in 1868 and is headquartered in San Antonio, Texas.
Cullen/Frost Bankers Trading Down 0.3 %
Shares of CFR Stock traded down $0.37 during trading hours on Wednesday, reaching $139.61. 3,453 shares of the stock were exchanged, compared to its average volume of 292,362. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.21. Cullen/Frost Bankers has a 12-month low of $106.66 and a 12-month high of $147.39. The company's 50-day moving average price is $123.08 and its 200-day moving average price is $131.40. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.07.
Cullen/Frost Bankers (NYSE:CFR - Get Rating) last announced its earnings results on Thursday, July 28th. The bank reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Cullen/Frost Bankers had a return on equity of 11.13% and a net margin of 29.19%. During the same quarter last year, the firm earned $1.80 earnings per share. As a group, equities analysts anticipate that Cullen/Frost Bankers will post 8.04 earnings per share for the current year.
Cullen/Frost Bankers Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a $0.87 dividend. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.75. The ex-dividend date is Tuesday, August 30th. This represents a $3.48 dividend on an annualized basis and a yield of 2.49%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 46.08%.
Analysts Set New Price Targets
CFR has been the subject of several research reports. Truist Financial dropped their price objective on shares of Cullen/Frost Bankers from $149.00 to $134.00 in a report on Wednesday, June 15th. StockNews.com upgraded Cullen/Frost Bankers from a "sell" rating to a "hold" rating in a report on Friday, July 29th. Jefferies Financial Group decreased their price objective on Cullen/Frost Bankers from $156.00 to $124.00 in a report on Monday, July 11th. Raymond James cut their target price on shares of Cullen/Frost Bankers from $160.00 to $145.00 and set an "outperform" rating for the company in a report on Thursday, July 7th. Finally, JPMorgan Chase & Co. raised shares of Cullen/Frost Bankers from an "underweight" rating to an "overweight" rating and upped their price target for the company from $143.00 to $155.00 in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of "Hold" and a consensus target price of $139.75.
Insider Transactions at Cullen/Frost Bankers
In other news, CFO Jerry Salinas sold 12,000 shares of the company's stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $134.03, for a total value of $1,608,360.00. Following the transaction, the chief financial officer now directly owns 27,792 shares in the company, valued at $3,724,961.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cullen/Frost Bankers news, insider Patrick B. Frost sold 18,000 shares of the firm's stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $128.19, for a total transaction of $2,307,420.00. Following the transaction, the insider now directly owns 206,676 shares in the company, valued at approximately $26,493,796.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jerry Salinas sold 12,000 shares of Cullen/Frost Bankers stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $134.03, for a total value of $1,608,360.00. Following the sale, the chief financial officer now directly owns 27,792 shares of the company's stock, valued at $3,724,961.76. The disclosure for this sale can be found here. Corporate insiders own 3.76% of the company's stock.
