Cullen/Frost Bankers’ (CFR) Neutral Rating Reaffirmed at Wedbush

Wedbush reiterated their neutral rating on shares of Cullen/Frost Bankers (NYSE:CFR) in a report issued on Friday morning, Benzinga reports. Wedbush currently has a $115.00 target price on the bank’s stock. Wedbush also issued estimates for Cullen/Frost Bankers’ Q2 2024 earnings at $2.03 EPS, Q3 2024 earnings at $2.10 EPS, Q4 2024 earnings at $2.22 EPS, FY2024 earnings at $8.50 EPS and Q1 2025 earnings at $2.02 EPS.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reiterated a sector perform rating and issued a $118.00 price target on shares of Cullen/Frost Bankers in a research note on Tuesday, April 9th. DA Davidson restated a buy rating and set a $126.00 target price on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Evercore ISI raised their target price 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. Truist Financial raised their target price on shares of Cullen/Frost Bankers from $114.00 to $121.00 and gave the stock a hold rating in a research note on Monday, April 1st. Finally, Morgan Stanley raised their target price on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of Hold and an average price target of $117.46.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $105.38 on Friday. The stock has a market cap of $6.77 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The company has a fifty day moving average price of $109.11 and a two-hundred day moving average price of $104.08. Cullen/Frost Bankers has a one year low of $82.25 and a one year high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same period in the previous year, the company earned $2.70 earnings per share. As a group, equities analysts predict that Cullen/Frost Bankers will post 8.46 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Friday, May 31st. Cullen/Frost Bankers’s dividend payout ratio is 43.50%.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 27,815 shares in the company, valued at $2,934,204.35. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several hedge funds have recently bought and sold shares of the company. Anchor Investment Management LLC bought a new stake in shares of Cullen/Frost Bankers during the 4th quarter valued at approximately $1,069,000. Hsbc Holdings PLC bought a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at approximately $1,302,000. Raymond James & Associates grew its holdings in shares of Cullen/Frost Bankers by 15.1% during the 3rd quarter. Raymond James & Associates now owns 203,802 shares of the bank’s stock valued at $18,589,000 after purchasing an additional 26,670 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Cullen/Frost Bankers by 92.9% during the 3rd quarter. SG Americas Securities LLC now owns 20,657 shares of the bank’s stock valued at $1,884,000 after purchasing an additional 9,950 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at approximately $530,000. 86.90% of the stock is owned by 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.