Cullen/Frost Bankers (NYSE:CFR) Rating Reiterated by Raymond James

Raymond James reaffirmed their maintains rating on shares of Cullen/Frost Bankers (NYSE:CFRGet Rating) in a research report sent to investors on Friday morning, Benzinga reports.

CFR has been the topic of a number of other reports. Compass Point raised shares of Cullen/Frost Bankers from a sell rating to a neutral rating and set a $128.00 price target on the stock in a research note on Wednesday, July 13th. Wolfe Research decreased their price target on shares of Cullen/Frost Bankers from $161.00 to $132.00 and set an outperform rating on the stock in a research note on Thursday, May 26th. Bank of America raised shares of Cullen/Frost Bankers from an underperform rating to a neutral rating and set a $144.00 price target on the stock in a research note on Friday, April 8th. Truist Financial cut their price objective on shares of Cullen/Frost Bankers from $149.00 to $134.00 in a report on Wednesday, June 15th. Finally, Jefferies Financial Group cut their price objective on shares of Cullen/Frost Bankers from $156.00 to $124.00 in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Cullen/Frost Bankers has an average rating of Hold and a consensus price target of $136.83.

Cullen/Frost Bankers Trading Up 0.5 %

CFR stock opened at $131.04 on Friday. The company’s 50-day simple moving average is $121.26 and its 200-day simple moving average is $131.53. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers has a 52-week low of $105.94 and a 52-week high of $147.39. The firm has a market cap of $8.40 billion, a P/E ratio of 20.13, a PEG ratio of 1.75 and a beta of 1.21.

Cullen/Frost Bankers (NYSE:CFRGet Rating) last posted its earnings results on Thursday, July 28th. The bank reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Cullen/Frost Bankers had a net margin of 29.19% and a return on equity of 11.13%. During the same quarter last year, the company posted $1.80 EPS. As a group, equities analysts forecast that Cullen/Frost Bankers will post 7.85 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.66%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.75. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 46.08%.

Institutional Trading of Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently made changes to their positions in CFR. Russell Investments Group Ltd. increased its holdings in Cullen/Frost Bankers by 14.2% in the 4th quarter. Russell Investments Group Ltd. now owns 47,276 shares of the bank’s stock valued at $5,958,000 after purchasing an additional 5,893 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Cullen/Frost Bankers by 14.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,714 shares of the bank’s stock valued at $1,099,000 after purchasing an additional 1,076 shares during the last quarter. State of Michigan Retirement System increased its holdings in Cullen/Frost Bankers by 0.7% in the 4th quarter. State of Michigan Retirement System now owns 14,329 shares of the bank’s stock valued at $1,806,000 after purchasing an additional 100 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Cullen/Frost Bankers by 0.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 44,210 shares of the bank’s stock valued at $5,573,000 after purchasing an additional 335 shares during the last quarter. Finally, 1900 Wealth Management LLC increased its holdings in Cullen/Frost Bankers by 38.6% in the 4th quarter. 1900 Wealth Management LLC now owns 9,662 shares of the bank’s stock valued at $1,218,000 after purchasing an additional 2,690 shares during the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.

About Cullen/Frost Bankers

(Get Rating)

Cullen/Frost Bankers, Inc operates as the bank 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.

Further Reading

Analyst Recommendations for Cullen/Frost Bankers (NYSE:CFR)

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