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

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) reached a new 52-week high on Monday . The stock traded as high as $149.05 and last traded at $148.7150, with a volume of 71211 shares traded. The stock had previously closed at $145.66.

Wall Street Analysts Forecast Growth

CFR has been the subject of a number of recent analyst reports. Barclays upped their price objective on Cullen/Frost Bankers from $150.00 to $155.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. DA Davidson increased their price target on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Finally, Stephens raised shares of Cullen/Frost Bankers from an “equal weight” rating to an “overweight” rating and set a $164.00 price objective on the stock in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $148.73.

Cullen/Frost Bankers Stock Up 2.0%

The firm has a market capitalization of $9.33 billion, a P/E ratio of 14.48, a PEG ratio of 3.67 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day moving average of $140.85 and a 200-day moving average of $137.56.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $574.84 million during the quarter, compared to analyst estimates of $587.28 million. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. During the same quarter last year, the business earned $2.30 earnings per share. Research analysts predict that Cullen/Frost Bankers, Inc. will post 10.53 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $1.03 dividend. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, May 29th. This represents a $4.12 annualized dividend and a yield of 2.8%. Cullen/Frost Bankers’s payout ratio is 40.12%.

Insiders Place Their Bets

In related news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the transaction, the executive vice president directly owned 12,712 shares in the company, valued at approximately $1,885,062.48. The trade was a 6.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several hedge funds have recently made changes to their positions in CFR. Advisory Services Network LLC bought a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at $28,000. Covestor Ltd lifted its holdings in Cullen/Frost Bankers by 67.6% during the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. boosted its stake in Cullen/Frost Bankers by 252.1% in the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock worth $33,000 after purchasing an additional 184 shares during the period. Community Bank N.A. bought a new position in Cullen/Frost Bankers in the 3rd quarter worth about $35,000. Finally, Matrix Trust Co grew its holdings in Cullen/Frost Bankers by 40.4% during the 4th quarter. Matrix Trust Co now owns 320 shares of the bank’s stock valued at $41,000 after buying an additional 92 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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.