Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) have been assigned an average rating of “Hold” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $92.25.
Several research analysts have issued reports on CFR shares. Wedbush cut Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $87.00 to $82.00 in a research report on Friday, November 1st. Piper Jaffray Companies set a $91.00 target price on Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Friday, November 1st. Maxim Group reissued a “buy” rating and issued a $100.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Stephens decreased their price objective on Cullen/Frost Bankers from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Finally, ValuEngine downgraded Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd.
NYSE:CFR traded down $1.69 on Friday, hitting $87.30. The stock had a trading volume of 332,300 shares, compared to its average volume of 339,732. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.56 and a beta of 1.36. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $93.41 and its two-hundred day simple moving average is $91.34. Cullen/Frost Bankers has a 52-week low of $79.86 and a 52-week high of $105.56.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 28th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Thursday, February 27th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 41.52%.
In related news, Director Chris Avery acquired 9,500 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were purchased at an average price of $92.49 per share, with a total value of $878,655.00. 4.84% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CFR. Wealth Quarterback LLC bought a new stake in Cullen/Frost Bankers during the 4th quarter valued at approximately $22,989,911,000. State Street Corp raised its stake in Cullen/Frost Bankers by 9.8% during the 4th quarter. State Street Corp now owns 4,937,279 shares of the bank’s stock valued at $482,767,000 after purchasing an additional 442,307 shares during the period. Millennium Management LLC raised its stake in Cullen/Frost Bankers by 1,781.6% during the 3rd quarter. Millennium Management LLC now owns 366,942 shares of the bank’s stock valued at $32,492,000 after purchasing an additional 347,440 shares during the period. Champlain Investment Partners LLC raised its stake in Cullen/Frost Bankers by 20.4% during the 4th quarter. Champlain Investment Partners LLC now owns 1,354,450 shares of the bank’s stock valued at $132,438,000 after purchasing an additional 229,580 shares during the period. Finally, Madison Asset Management LLC bought a new stake in Cullen/Frost Bankers during the 4th quarter valued at approximately $15,778,000. 82.53% of the stock is currently owned by institutional investors.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the 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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