Royal Bank Of Canada reissued their hold rating on shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in a research report released on Friday, October 27th. Royal Bank Of Canada currently has a $100.00 target price on the bank’s stock.
A number of other research analysts have also weighed in on CFR. Zacks Investment Research lowered shares of Cullen/Frost Bankers from a buy rating to a hold rating in a research report on Tuesday, July 4th. Raymond James Financial, Inc. reissued a market perform rating on shares of Cullen/Frost Bankers in a research report on Tuesday, July 4th. BidaskClub raised shares of Cullen/Frost Bankers from a sell rating to a hold rating in a research report on Wednesday, July 5th. Morgan Stanley reissued an equal weight rating and set a $93.00 price target (up from $90.00) on shares of Cullen/Frost Bankers in a research report on Thursday, July 6th. Finally, Jefferies Group LLC reissued a hold rating and set a $95.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $100.58.
Cullen/Frost Bankers (NYSE CFR) opened at $93.35 on Friday. Cullen/Frost Bankers has a 12 month low of $79.76 and a 12 month high of $103.37. The firm has a market cap of $5,896.40, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.84 and a beta of 1.35. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.08.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 26th. The bank reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.10. Cullen/Frost Bankers had a net margin of 28.86% and a return on equity of 11.64%. The firm had revenue of $300.83 million for the quarter, compared to analyst estimates of $329.62 million. During the same period last year, the firm earned $1.24 earnings per share. equities research analysts anticipate that Cullen/Frost Bankers will post 5.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.57 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $2.28 annualized dividend and a dividend yield of 2.44%. Cullen/Frost Bankers’s payout ratio is 43.35%.
Cullen/Frost Bankers declared that its board has authorized a stock repurchase program on Thursday, October 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the bank to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Bobby Berman sold 41,760 shares of Cullen/Frost Bankers stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $100.53, for a total value of $4,198,132.80. Following the completion of the transaction, the insider now owns 38,596 shares in the company, valued at $3,880,055.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.15% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Parallax Volatility Advisers L.P. grew its stake in Cullen/Frost Bankers by 124.1% during the second quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock valued at $102,000 after acquiring an additional 602 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Cullen/Frost Bankers during the second quarter valued at approximately $114,000. Westwood Holdings Group Inc. bought a new stake in Cullen/Frost Bankers during the second quarter valued at approximately $131,000. Fiduciary Trust Co. bought a new stake in Cullen/Frost Bankers during the second quarter valued at approximately $136,000. Finally, Meeder Asset Management Inc. lifted its position in Cullen/Frost Bankers by 50.6% during the third quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock valued at $150,000 after purchasing an additional 531 shares during the last quarter. 81.38% of the stock is owned by institutional investors.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
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