Cullen/Frost Bankers (NYSE:CFR) Upgraded at TD Cowen

TD Cowen upgraded shares of Cullen/Frost Bankers (NYSE:CFR) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently weighed in on CFR. Weiss Ratings raised shares of Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Barclays boosted their price target on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. Morgan Stanley lowered their price target on shares of Cullen/Frost Bankers from $143.00 to $133.00 and set an “underweight” rating for the company in a research note on Tuesday, March 31st. Loop Capital set a $160.00 price target on shares of Cullen/Frost Bankers in a research note on Monday, February 2nd. Finally, Cantor Fitzgerald boosted their price target on shares of Cullen/Frost Bankers from $141.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and an average target price of $142.25.

Cullen/Frost Bankers Stock Down 0.1%

Shares of NYSE:CFR opened at $142.26 on Monday. Cullen/Frost Bankers has a 52-week low of $109.43 and a 52-week high of $148.97. The firm has a fifty day moving average of $139.36 and a 200 day moving average of $132.33. The firm has a market capitalization of $8.96 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 3.93 and a beta of 0.61. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.67 and a current ratio of 0.67.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.09. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $578.05 million. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. During the same period in the previous year, the business earned $2.36 earnings per share. As a group, research analysts anticipate that Cullen/Frost Bankers will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, February 27th. Cullen/Frost Bankers’s dividend payout ratio is 40.32%.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,000 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $137.07, for a total transaction of $137,070.00. Following the completion of the transaction, the executive vice president directly owned 28,406 shares of the company’s stock, valued at approximately $3,893,610.42. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently modified their holdings of the company. Diversified Trust Co. raised its stake in shares of Cullen/Frost Bankers by 0.5% during the fourth quarter. Diversified Trust Co. now owns 13,868 shares of the bank’s stock valued at $1,756,000 after acquiring an additional 74 shares during the last quarter. Matrix Trust Co raised its stake in shares of Cullen/Frost Bankers by 40.4% during the fourth quarter. Matrix Trust Co now owns 320 shares of the bank’s stock valued at $41,000 after acquiring an additional 92 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Cullen/Frost Bankers by 2.9% during the third quarter. Private Advisor Group LLC now owns 3,283 shares of the bank’s stock valued at $416,000 after acquiring an additional 94 shares during the last quarter. Cardinal Capital Management raised its stake in shares of Cullen/Frost Bankers by 0.5% during the fourth quarter. Cardinal Capital Management now owns 18,134 shares of the bank’s stock valued at $2,296,000 after acquiring an additional 98 shares during the last quarter. Finally, Wedmont Private Capital raised its stake in shares of Cullen/Frost Bankers by 6.2% during the third quarter. Wedmont Private Capital now owns 1,687 shares of the bank’s stock valued at $215,000 after acquiring an additional 99 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.