Cullen/Frost Bankers (NYSE:CFR) Hits New 52-Week High After Analyst Upgrade


Share on StockTwits

Cullen/Frost Bankers, Inc. (NYSE:CFR) shares reached a new 52-week high during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $90.00 to $96.00. Morgan Stanley currently has an underweight rating on the stock. Cullen/Frost Bankers traded as high as $123.14 and last traded at $123.03, with a volume of 2043 shares trading hands. The stock had previously closed at $121.63.

Several other equities analysts have also recently issued reports on CFR. Maxim Group boosted their target price on Cullen/Frost Bankers from $111.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Truist Securities upped their price target on Cullen/Frost Bankers from $111.00 to $134.00 and gave the stock a “hold” rating in a research note on Monday. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating and set a $128.00 price target on the stock in a research note on Tuesday, April 13th. Finally, Truist upped their price target on Cullen/Frost Bankers from $111.00 to $134.00 in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $105.88.

In other news, EVP William L. Perotti sold 12,250 shares of the stock in a transaction on Tuesday, February 23rd. The stock was sold at an average price of $106.09, for a total value of $1,299,602.50. Following the sale, the executive vice president now directly owns 105,765 shares of the company’s stock, valued at $11,220,608.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carlos Alvarez sold 40,000 shares of the stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $105.04, for a total value of $4,201,600.00. Following the completion of the sale, the director now directly owns 334,000 shares in the company, valued at $35,083,360. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,752 shares of company stock worth $12,463,335. Insiders own 4.75% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Cullen/Frost Bankers by 5.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 76,879 shares of the bank’s stock valued at $7,463,000 after purchasing an additional 3,960 shares in the last quarter. OLD Mission Capital LLC bought a new position in shares of Cullen/Frost Bankers during the third quarter valued at $1,359,000. Brinker Capital Investments LLC bought a new position in shares of Cullen/Frost Bankers during the third quarter valued at $300,000. Sei Investments Co. lifted its holdings in shares of Cullen/Frost Bankers by 0.5% during the third quarter. Sei Investments Co. now owns 169,188 shares of the bank’s stock valued at $10,772,000 after purchasing an additional 770 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Cullen/Frost Bankers during the third quarter valued at $392,000. 81.39% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market capitalization of $7.88 billion, a P/E ratio of 23.30, a P/E/G ratio of 2.13 and a beta of 1.56. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $113.37 and a 200-day moving average price of $96.15.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Wednesday, April 28th. The bank reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.34. Cullen/Frost Bankers had a return on equity of 6.68% and a net margin of 22.81%. During the same quarter in the prior year, the company earned $0.75 EPS. On average, equities analysts expect that Cullen/Frost Bankers, Inc. will post 3.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, May 27th. Cullen/Frost Bankers’s dividend payout ratio is presently 42.11%.

About Cullen/Frost Bankers (NYSE:CFR)

Cullen/Frost Bankers, Inc operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services, as well as trust and investment management, mutual funds, investment banking, insurance, brokerage, leasing, asset-based lending, treasury management and item processing services.

Further Reading: Options Trading

Receive News & Ratings for Cullen/Frost Bankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers and related companies with MarketBeat.com's FREE daily email newsletter.