Cullen/Frost Bankers (NYSE:CFR) Reaches New 12-Month High – Still a Buy?

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $148.46 and last traded at $146.28, with a volume of 665234 shares. The stock had previously closed at $146.26.

Analyst Ratings Changes

Several research firms have recently weighed in on CFR. Loop Capital set a $160.00 target price on Cullen/Frost Bankers in a research report on Monday, February 2nd. Keefe, Bruyette & Woods increased their price target on shares of Cullen/Frost Bankers from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. DA Davidson increased their target price on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Cullen/Frost Bankers in a research note on Monday, December 29th. Finally, Citigroup upped their price target on Cullen/Frost Bankers from $114.00 to $125.00 and gave the stock a “sell” rating in a report on Monday, February 2nd. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $140.92.

Cullen/Frost Bankers Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.67 and a quick ratio of 0.67. The company has a 50 day moving average price of $134.36 and a 200 day moving average price of $128.86. The firm has a market cap of $9.24 billion, a PE ratio of 14.75, a PEG ratio of 5.38 and a beta of 0.65.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. The company had revenue of $562.58 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $2.36 EPS. Sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, February 27th. This represents a $4.00 annualized dividend and a yield of 2.7%. Cullen/Frost Bankers’s payout ratio is presently 40.32%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total transaction of $88,900.00. Following the completion of the sale, the executive vice president owned 3,795 shares of the company’s stock, valued at approximately $481,965. This trade represents a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bobby Berman sold 1,000 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $137.07, for a total transaction of $137,070.00. Following the completion of the sale, the executive vice president owned 28,406 shares of the company’s stock, valued at approximately $3,893,610.42. The trade was a 3.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,700 shares of company stock worth $225,970 over the last ninety days. Corporate insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in Cullen/Frost Bankers by 61.6% during the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock worth $75,833,000 after buying an additional 230,993 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cullen/Frost Bankers by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock valued at $20,896,000 after purchasing an additional 15,063 shares during the period. Geneos Wealth Management Inc. increased its holdings in Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after purchasing an additional 106 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Cullen/Frost Bankers during the second quarter worth about $315,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in Cullen/Frost Bankers in the 2nd quarter worth about $550,000. Institutional investors own 86.90% of the company’s stock.

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.