Cullen/Frost Bankers’ (CFR) “Neutral” Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of Cullen/Frost Bankers (NYSE:CFR) in a research note published on Friday morning, Benzinga reports. Wedbush currently has a $115.00 price objective 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.

Several other research firms have also recently weighed in on CFR. Evercore ISI boosted their target price on Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an underperform rating in a research note on Thursday, March 28th. Compass Point cut Cullen/Frost Bankers from a buy rating to a neutral rating in a research note on Monday, January 8th. Stephens boosted their target price on Cullen/Frost Bankers from $116.00 to $117.00 and gave the stock an equal weight rating in a research note on Friday, January 26th. Morgan Stanley boosted their price objective on Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. Finally, DA Davidson reiterated a buy rating and issued a $126.00 price objective on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $117.92.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $107.08 on Friday. The stock has a 50-day simple moving average of $109.17 and a 200-day simple moving average of $103.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market capitalization of $6.88 billion, a PE ratio of 12.66, a PEG ratio of 1.33 and a beta of 1.03. Cullen/Frost Bankers has a 1 year low of $82.25 and a 1 year high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.69% and a net margin of 26.26%. During the same quarter in the previous year, the business earned $2.70 earnings per share. On average, analysts predict that Cullen/Frost Bankers will post 8.46 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, May 31st. Cullen/Frost Bankers’s payout ratio is currently 43.50%.

Insider Activity

In other news, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the transaction, the insider now owns 96,380 shares of the company’s stock, valued at $10,543,972. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the transaction, the executive vice president now owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction on Friday, February 16th. The stock was 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 in the company, valued at approximately $10,543,972. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Anchor Investment Management LLC acquired a new position in Cullen/Frost Bankers during the fourth quarter worth $1,069,000. Hsbc Holdings PLC purchased a new stake in Cullen/Frost Bankers during the third quarter worth $1,302,000. Raymond James & Associates boosted its position 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 purchasing an additional 26,670 shares in the last quarter. SG Americas Securities LLC boosted its position 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 purchasing an additional 9,950 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Cullen/Frost Bankers during the third quarter worth $530,000. 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.