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

Cullen/Frost Bankers, Inc. (NYSE:CFR) hit a new 52-week high during trading on Monday after Citigroup raised their price target on the stock from $131.00 to $145.00. Citigroup currently has a sell rating on the stock. Cullen/Frost Bankers traded as high as $155.41 and last traded at $154.9970, with a volume of 849482 shares changing hands. The stock had previously closed at $155.31.

Other research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Cullen/Frost Bankers in a research note on Monday, June 1st. TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a research report on Monday, April 13th. DA Davidson raised their target price on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Barclays upped their price target on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $150.73.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Carol Jean Severyn sold 837 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the sale, the executive vice president directly owned 12,712 shares of the company’s stock, valued at approximately $1,885,062.48. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CFR. Diversified Trust Co. grew its position in Cullen/Frost Bankers by 0.5% during the fourth quarter. Diversified Trust Co. now owns 13,868 shares of the bank’s stock worth $1,756,000 after buying an additional 74 shares in the last quarter. Matrix Trust Co lifted its position in shares of Cullen/Frost Bankers by 40.4% in the 4th quarter. Matrix Trust Co now owns 320 shares of the bank’s stock worth $41,000 after acquiring an additional 92 shares during the period. Private Advisor Group LLC grew its holdings in shares of Cullen/Frost Bankers by 2.9% during the 3rd quarter. Private Advisor Group LLC now owns 3,283 shares of the bank’s stock worth $416,000 after purchasing an additional 94 shares in the last quarter. Cardinal Capital Management grew its holdings in shares of Cullen/Frost Bankers by 0.5% during the 4th quarter. Cardinal Capital Management now owns 18,134 shares of the bank’s stock worth $2,296,000 after purchasing an additional 98 shares in the last quarter. Finally, Evolve Private Wealth LLC increased its position in shares of Cullen/Frost Bankers by 6.0% during the first quarter. Evolve Private Wealth LLC now owns 1,726 shares of the bank’s stock valued at $237,000 after purchasing an additional 98 shares during the period. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Down 0.1%

The business has a 50-day moving average price of $142.22 and a 200-day moving average price of $138.84. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $9.71 billion, a P/E ratio of 15.06, a PEG ratio of 3.89 and a beta of 0.55.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The firm had revenue of $574.84 million during the quarter, compared to analysts’ expectations 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 period last year, the business earned $2.30 earnings per share. Analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.54 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $1.03 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, May 29th. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 40.12%.

Cullen/Frost Bankers Company Profile

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.