Cullen/Frost Bankers (NYSE:CFR) Hits New 1-Year High Following Analyst Upgrade

Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday after Compass Point raised their price target on the stock from $111.00 to $122.00. Compass Point currently has a neutral rating on the stock. Cullen/Frost Bankers traded as high as $139.00 and last traded at $138.21, with a volume of 5098 shares trading hands. The stock had previously closed at $127.58.

A number of other research firms have also commented on CFR. Truist Financial reduced their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating for the company in a research report on Friday, September 20th. Royal Bank of Canada lifted their price target on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a "sector perform" rating in a research report on Friday, November 1st. Wedbush cut their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating for the company in a report on Tuesday, September 24th. Stephens raised their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Finally, Evercore ISI cut their price target on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating for the company in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $123.86.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of hedge funds have recently modified their holdings of the company. Champlain Investment Partners LLC increased its holdings in Cullen/Frost Bankers by 18.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank's stock valued at $359,378,000 after purchasing an additional 495,215 shares during the period. Janus Henderson Group PLC increased its stake in shares of Cullen/Frost Bankers by 18.8% during the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank's stock valued at $114,994,000 after buying an additional 161,580 shares during the period. Boston Trust Walden Corp purchased a new position in shares of Cullen/Frost Bankers during the third quarter valued at approximately $107,166,000. Dimensional Fund Advisors LP raised its holdings in shares of Cullen/Frost Bankers by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank's stock valued at $96,856,000 after acquiring an additional 120,333 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Cullen/Frost Bankers by 3.3% in the third quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank's stock worth $90,185,000 after acquiring an additional 25,909 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Trading Up 12.6 %

The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a market cap of $9.21 billion, a P/E ratio of 15.84, a PEG ratio of 1.51 and a beta of 0.98. The firm's fifty day moving average is $116.22 and its two-hundred day moving average is $109.24.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company had revenue of $518.04 million for the quarter, compared to analysts' expectations of $517.25 million. During the same quarter in the previous year, the company earned $2.38 earnings per share. Cullen/Frost Bankers's quarterly revenue was up 5.4% on a year-over-year basis. Analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers's payout ratio is presently 47.15%.

Cullen/Frost Bankers Company Profile

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.