Cullen/Frost Bankers (NYSE:CFR) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Cullen/Frost Bankers (NYSE:CFR) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday,Zacks reports.

A number of other analysts have also recently weighed in on CFR. Keefe, Bruyette & Woods upped their price target on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Barclays boosted their price objective on Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Stephens increased their target price on Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Citigroup raised their target price on Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada boosted their price target on Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus price target of $161.75.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $162.89 on Thursday. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.49 and a beta of 0.52. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average is $162.31 and its two-hundred day moving average is $147.91. Cullen/Frost Bankers has a 12-month low of $119.00 and a 12-month high of $170.80.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.15. The business had revenue of $576.01 million during the quarter, compared to the consensus estimate of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.During the same quarter in the previous year, the business earned $2.39 earnings per share. Research analysts expect that Cullen/Frost Bankers will post 10.91 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $1.03 per share. The ex-dividend date is Monday, August 31st. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 38.94%.

Insider Activity

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

Hedge Funds Weigh In On Cullen/Frost Bankers

Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in shares of Cullen/Frost Bankers during the 3rd quarter valued at about $28,000. Covestor Ltd boosted its position in Cullen/Frost Bankers by 67.6% during the fourth quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after purchasing an additional 100 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Cullen/Frost Bankers during the second quarter valued at approximately $37,000. Global Retirement Partners LLC acquired a new position in Cullen/Frost Bankers during the second quarter valued at approximately $38,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Cullen/Frost Bankers in the first quarter valued at approximately $41,000. Institutional investors and hedge funds 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.