Cullen/Frost Bankers, Inc. (CFR) Rating Increased to Buy at ValuEngine
ValuEngine upgraded shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) from a hold rating to a buy rating in a report issued on Friday.
Several other research firms have also recently weighed in on CFR. BidaskClub upgraded shares of Cullen/Frost Bankers from a sell rating to a hold rating in a research report on Wednesday, July 5th. Barclays PLC upped their price objective on shares of Cullen/Frost Bankers from $97.00 to $100.00 and gave the stock an equal weight rating in a research report on Friday, July 28th. Morgan Stanley restated an equal weight rating and issued a $93.00 price objective (up from $90.00) on shares of Cullen/Frost Bankers in a research report on Thursday, July 6th. Citigroup Inc. cut shares of Cullen/Frost Bankers to an underperform rating in a research report on Thursday, August 10th. They noted that the move was a valuation call. Finally, Raymond James Financial, Inc. restated a market perform rating on shares of Cullen/Frost Bankers in a research report on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $95.04.
Shares of Cullen/Frost Bankers (NYSE CFR) opened at 91.67 on Friday. Cullen/Frost Bankers has a 1-year low of $67.86 and a 1-year high of $99.20. The stock has a 50 day moving average of $87.20 and a 200-day moving average of $90.93. The firm has a market capitalization of $5.89 billion, a P/E ratio of 18.06 and a beta of 1.33.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.29. The company had revenue of $295.87 million for the quarter, compared to analysts’ expectations of $316.40 million. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. During the same period in the prior year, the business earned $1.11 earnings per share. On average, equities analysts expect that Cullen/Frost Bankers will post $5.22 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Tuesday, August 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 44.79%.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Cullen/Frost Bankers by 1.9% during the second quarter. Vanguard Group Inc. now owns 5,460,000 shares of the bank’s stock valued at $512,749,000 after purchasing an additional 103,634 shares during the period. BlackRock Inc. boosted its stake in shares of Cullen/Frost Bankers by 3.9% during the second quarter. BlackRock Inc. now owns 4,879,258 shares of the bank’s stock valued at $458,211,000 after purchasing an additional 183,302 shares during the period. FMR LLC boosted its stake in shares of Cullen/Frost Bankers by 2.0% during the second quarter. FMR LLC now owns 4,090,392 shares of the bank’s stock valued at $384,130,000 after purchasing an additional 80,709 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Cullen/Frost Bankers by 4.9% during the second quarter. JPMorgan Chase & Co. now owns 2,046,915 shares of the bank’s stock valued at $192,225,000 after purchasing an additional 95,236 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Cullen/Frost Bankers by 177.5% during the second quarter. Principal Financial Group Inc. now owns 1,830,898 shares of the bank’s stock valued at $171,940,000 after purchasing an additional 1,171,078 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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