Cullen/Frost Bankers’ (CFR) Neutral Rating Reaffirmed at Wedbush

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

CFR has been the topic of a number of other research reports. Evercore ISI raised their target price on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an underperform rating in a report on Thursday, March 28th. Royal Bank of Canada reaffirmed a sector perform rating and set a $118.00 price target on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. Jefferies Financial Group lifted their price target on Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a hold rating in a report on Monday, April 8th. UBS Group lifted their price target on Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a neutral rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on Cullen/Frost Bankers from $135.00 to $140.00 and gave the company an overweight rating in a report on Thursday, April 4th. Three research 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 MarketBeat, Cullen/Frost Bankers has an average rating of Hold and an average price target of $117.46.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $105.38 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $109.11 and its two-hundred day moving average price is $104.08. Cullen/Frost Bankers has a 52-week low of $82.25 and a 52-week high of $120.31. The stock has a market capitalization of $6.77 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.33 and a beta of 1.04.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same period in the previous year, the company earned $2.70 EPS. As a group, sell-side analysts forecast that Cullen/Frost Bankers will post 8.46 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.49%. Cullen/Frost Bankers’s dividend payout ratio is presently 43.50%.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, February 16th. The shares were 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 in the company, valued at $10,543,972. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, February 16th. The shares were 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 in the company, valued at $10,543,972. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CFR. NBC Securities Inc. purchased a new position in Cullen/Frost Bankers during the 3rd quarter worth approximately $27,000. ICA Group Wealth Management LLC purchased a new position in Cullen/Frost Bankers during the 4th quarter worth approximately $33,000. Arvest Investments Inc. purchased a new position in Cullen/Frost Bankers during the 4th quarter worth approximately $35,000. CWM LLC grew its position in Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in Cullen/Frost Bankers during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

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.