Cullen/Frost Bankers (NYSE:CFR) Sets New 1-Year High – Time to Buy?

Cullen/Frost Bankers, Inc. (NYSE:CFR) shares reached a new 52-week high on Monday . The stock traded as high as $147.64 and last traded at $146.32, with a volume of 3226 shares. The stock had previously closed at $142.32.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CFR. Truist Financial dropped their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Stephens lifted their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Wedbush lowered their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Citigroup lifted their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Finally, Evercore ISI dropped their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $123.86.

Cullen/Frost Bankers Trading Up 1.8 %

The stock has a market cap of $9.29 billion, a PE ratio of 17.66, a PEG ratio of 1.72 and a beta of 0.98. The stock’s fifty day moving average price is $124.07 and its 200 day moving average price is $112.13. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.38 EPS. On average, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.62%. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This trade represents a 11.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the completion of the transaction, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. This trade represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,864 shares of company stock valued at $2,977,033. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CFR. Covestor Ltd increased its holdings in shares of Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after purchasing an additional 141 shares during the last quarter. Asset Dedication LLC boosted its position in shares of Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after acquiring an additional 105 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Cullen/Frost Bankers in the third quarter valued at $44,000. Allworth Financial LP grew its holdings in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Cullen/Frost Bankers in the third quarter worth $52,000. Institutional investors own 86.90% of the company’s stock.

About Cullen/Frost Bankers

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.