Cullen/Frost Bankers (NYSE:CFR) Reaches New 52-Week High – Here’s Why

Cullen/Frost Bankers, Inc. (NYSE:CFR)’s stock price hit a new 52-week high on Monday . The stock traded as high as $157.69 and last traded at $157.4150, with a volume of 461053 shares changing hands. The stock had previously closed at $156.86.

Analyst Upgrades and Downgrades

Several research firms have commented on CFR. Cantor Fitzgerald restated a “neutral” rating on shares of Cullen/Frost Bankers in a research report on Monday, June 1st. DA Davidson boosted their price objective on Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Citigroup increased their price objective on Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Morgan Stanley lifted their target price on Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an “underweight” rating in a research note on Monday, June 29th. Finally, Jefferies Financial Group raised Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and increased their price target for the stock from $135.00 to $160.00 in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus price target of $151.92.

Cullen/Frost Bankers Trading Up 0.6%

The firm has a market capitalization of $9.91 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. 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 firm has a 50 day moving average price of $144.18 and a two-hundred day moving average price of $140.34.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $574.84 million for the quarter, compared to analysts’ expectations of $587.28 million. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.During the same period in the previous year, the firm posted $2.30 EPS. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 10.57 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 40.12%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the sale, the executive vice president 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. Insiders own 1.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Cullen/Frost Bankers during the third quarter valued at approximately $28,000. Covestor Ltd boosted its stake in Cullen/Frost Bankers by 67.6% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after purchasing an additional 100 shares during the period. 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. purchased a new position in Cullen/Frost Bankers during the 3rd quarter worth approximately $35,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Cullen/Frost Bankers during the 1st quarter worth approximately $41,000. 86.90% of the stock is 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.