Cullen/Frost Bankers (NYSE:CFR) Reaches New 1-Year High - Should You Buy?

Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $123.23 and last traded at $123.23, with a volume of 60787 shares. The stock had previously closed at $120.00.

Wall Street Analyst Weigh In

Several research firms have recently commented on CFR. Maxim Group lifted their price target on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a "buy" rating in a report on Friday, July 26th. DA Davidson lifted their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Truist Financial reduced their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating on the stock in a report on Friday, September 20th. Wedbush reduced their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating on the stock in a report on Tuesday, September 24th. Finally, Stephens boosted their price target on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an "equal weight" rating in a research note on Friday, July 26th. Four 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 MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $121.31.

Cullen/Frost Bankers Stock Performance

The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.42 and a beta of 1.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $110.49 and a 200 day moving average price of $107.45.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The business had revenue of $528.81 million during the quarter, compared to the consensus estimate of $506.83 million. During the same period in the previous year, the company posted $2.47 earnings per share. On average, analysts forecast that Cullen/Frost Bankers, Inc. will post 8.59 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.95 dividend. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, August 30th. Cullen/Frost Bankers's dividend payout ratio is currently 44.92%.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares in the company, valued at $2,243,796.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares in the company, valued at $2,243,796.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the transaction, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of hedge funds have recently modified their holdings of the business. Washington Capital Management Inc. purchased a new position in shares of Cullen/Frost Bankers during the third quarter worth approximately $548,000. Procyon Advisors LLC grew its position in shares of Cullen/Frost Bankers by 8.9% during the third quarter. Procyon Advisors LLC now owns 2,212 shares of the bank's stock worth $247,000 after acquiring an additional 180 shares during the last quarter. Juncture Wealth Strategies LLC grew its position in shares of Cullen/Frost Bankers by 45.4% during the third quarter. Juncture Wealth Strategies LLC now owns 2,881 shares of the bank's stock worth $322,000 after acquiring an additional 900 shares during the last quarter. CWM LLC grew its position in shares of Cullen/Frost Bankers by 767.4% during the third quarter. CWM LLC now owns 3,383 shares of the bank's stock worth $378,000 after acquiring an additional 2,993 shares during the last quarter. Finally, New England Research & Management Inc. purchased a new position in shares of Cullen/Frost Bankers during the third quarter worth approximately $954,000. 86.90% of the stock is currently owned by hedge funds and other 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.

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