Cullen/Frost Bankers (NYSE:CFR) Sees Large Volume Increase

Cullen/Frost Bankers, Inc. (NYSE:CFR) saw an uptick in trading volume on Thursday . 745,994 shares changed hands during mid-day trading, an increase of 74% from the previous session’s volume of 428,529 shares.The stock last traded at $113.54 and had previously closed at $113.72.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Evercore ISI dropped their price target on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 25th. Jefferies Financial Group cut their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, April 26th. StockNews.com raised shares of Cullen/Frost Bankers to a “sell” rating in a research report on Saturday, May 4th. Finally, Truist Financial reduced their price objective on shares of Cullen/Frost Bankers from $115.00 to $102.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus target price of $113.77.

Cullen/Frost Bankers Stock Down 1.0 %

The firm has a 50-day moving average price of $101.51 and a two-hundred day moving average price of $105.49. The company has a market capitalization of $7.23 billion, a P/E ratio of 13.24, a PEG ratio of 1.39 and a beta of 1.03. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, beating 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%. The firm had revenue of $522.74 million during the quarter, compared to the consensus estimate of $510.09 million. During the same period in the prior year, the firm earned $2.70 EPS. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.42 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Thursday, May 30th. Cullen/Frost Bankers’s dividend payout ratio is presently 43.50%.

Hedge Funds Weigh In On Cullen/Frost Bankers

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Cullen/Frost Bankers by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock valued at $695,729,000 after acquiring an additional 19,755 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after buying an additional 495,215 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Cullen/Frost Bankers by 18.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after buying an additional 161,580 shares during the period. Principal Financial Group Inc. boosted its stake in Cullen/Frost Bankers by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock valued at $92,432,000 after buying an additional 12,897 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after acquiring an additional 244,197 shares during the period. 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.