Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) have been given a consensus recommendation of “Hold” by the ten ratings firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $93.50.
Several research firms have issued reports on CFR. Morgan Stanley decreased their price target on shares of Cullen/Frost Bankers from $94.00 to $92.00 and set an “underweight” rating on the stock in a research note on Thursday, October 3rd. Wedbush lowered shares of Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $87.00 to $82.00 in a research report on Friday, November 1st. Maxim Group reduced their price objective on shares of Cullen/Frost Bankers from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Piper Jaffray Companies set a $91.00 target price on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, ValuEngine cut shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd.
NYSE CFR opened at $94.98 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a fifty-two week low of $79.86 and a fifty-two week high of $106.23. The business has a fifty day moving average of $93.40 and a 200-day moving average of $90.59. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.46 and a beta of 1.40.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, November 27th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 41.16%.
In other news, insider Paul Bracher sold 9,360 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $90.10, for a total transaction of $843,336.00. Following the completion of the transaction, the insider now owns 86,743 shares of the company’s stock, valued at approximately $7,815,544.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.84% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CFR. Millennium Management LLC increased its position in Cullen/Frost Bankers by 1,781.6% during the third quarter. Millennium Management LLC now owns 366,942 shares of the bank’s stock worth $32,492,000 after purchasing an additional 347,440 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Cullen/Frost Bankers by 122.4% in the 3rd quarter. Squarepoint Ops LLC now owns 9,393 shares of the bank’s stock valued at $832,000 after purchasing an additional 5,169 shares during the last quarter. WealthPLAN Partners LLC grew its stake in shares of Cullen/Frost Bankers by 7.0% during the 3rd quarter. WealthPLAN Partners LLC now owns 70,362 shares of the bank’s stock valued at $6,552,000 after buying an additional 4,619 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at $1,470,000. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Cullen/Frost Bankers by 41.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 173,033 shares of the bank’s stock worth $15,322,000 after buying an additional 50,972 shares during the last quarter. 82.52% of the stock is currently owned by institutional investors and hedge funds.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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