Cullen/Frost Bankers (NYSE:CFR) Given “Neutral” Rating at Wedbush

Wedbush reissued their neutral rating on shares of Cullen/Frost Bankers (NYSE:CFR) in a research report report published 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.

CFR has been the subject of several other reports. Morgan Stanley upped their price objective on 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. Truist Financial increased their price objective on shares of Cullen/Frost Bankers from $114.00 to $121.00 and gave the stock a hold rating in a research report on Monday, April 1st. DA Davidson reissued a buy rating and issued a $126.00 price objective on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Jefferies Financial Group raised their target price on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a hold rating in a research report on Monday, April 8th. Finally, Compass Point downgraded shares of Cullen/Frost Bankers from a buy rating to a neutral rating in a research note on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $117.92.

Cullen/Frost Bankers Price Performance

CFR stock opened at $107.05 on Friday. The firm has a 50 day moving average price of $109.17 and a 200-day moving average price of $103.82. Cullen/Frost Bankers has a 52-week low of $82.25 and a 52-week high of $120.31. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.37 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 0.63.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 26.26% and a return on equity of 18.69%. During the same period last year, the company posted $2.70 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers will post 8.49 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.92 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 annualized dividend and a yield of 3.44%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.50%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, 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 completion of the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. 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 company’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 sale, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 96,380 shares in the company, valued at approximately $10,543,972. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several institutional investors and hedge funds have recently bought and sold shares of CFR. IFP Advisors Inc raised its stake in Cullen/Frost Bankers by 1,604.8% during the third quarter. IFP Advisors Inc now owns 1,432 shares of the bank’s stock worth $131,000 after acquiring an additional 1,348 shares during the period. SG Americas Securities LLC raised its stake in Cullen/Frost Bankers by 92.9% during the third quarter. SG Americas Securities LLC now owns 20,657 shares of the bank’s stock worth $1,884,000 after acquiring an additional 9,950 shares during the period. Callahan Advisors LLC raised its stake in Cullen/Frost Bankers by 1.5% during the third quarter. Callahan Advisors LLC now owns 52,809 shares of the bank’s stock worth $4,817,000 after acquiring an additional 783 shares during the period. Raymond James & Associates raised its stake in Cullen/Frost Bankers by 15.1% during the third quarter. Raymond James & Associates now owns 203,802 shares of the bank’s stock worth $18,589,000 after acquiring an additional 26,670 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cullen/Frost Bankers by 28.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,213 shares of the bank’s stock worth $932,000 after acquiring an additional 2,264 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.