Cullen/Frost Bankers, Inc. (CFR) Cut to “Hold” at ValuEngine
ValuEngine lowered shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) from a buy rating to a hold rating in a research report report published on Thursday morning.
Several other equities research analysts have also recently commented on the company. Deutsche Bank AG boosted their price target on Cullen/Frost Bankers from $96.00 to $102.00 and gave the company a hold rating in a research note on Wednesday, November 8th. Barclays PLC boosted their price target on Cullen/Frost Bankers from $97.00 to $106.00 and gave the company an equal weight rating in a research note on Monday, October 30th. J P Morgan Chase & Co boosted their price target on Cullen/Frost Bankers from $88.00 to $91.00 and gave the company a neutral rating in a research note on Monday, October 30th. SunTrust Banks, Inc. reissued a buy rating and issued a $115.00 price target on shares of Cullen/Frost Bankers in a research note on Sunday, October 29th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $100.00 price target on shares of Cullen/Frost Bankers in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $100.58.
Cullen/Frost Bankers (NYSE:CFR) opened at $93.35 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.65 and a current ratio of 0.65. Cullen/Frost Bankers has a 12 month low of $79.76 and a 12 month high of $103.37. The firm has a market capitalization of $5,896.40, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.84 and a beta of 1.35.
Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 26th. The bank reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.10. The company had revenue of $300.83 million for the quarter, compared to analysts’ expectations of $329.62 million. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. During the same quarter in the previous year, the business posted $1.24 EPS. equities research analysts forecast that Cullen/Frost Bankers will post 5.35 earnings per share for the current year.
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Cullen/Frost Bankers declared that its Board of Directors has approved a share repurchase program on Thursday, October 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the bank to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.44%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.35%.
In other news, insider Bobby Berman sold 41,760 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $100.53, for a total transaction of $4,198,132.80. Following the completion of the transaction, the insider now directly owns 38,596 shares in the company, valued at $3,880,055.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.15% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CFR. OppenheimerFunds Inc. raised its stake in shares of Cullen/Frost Bankers by 21.4% in the first quarter. OppenheimerFunds Inc. now owns 3,044 shares of the bank’s stock valued at $271,000 after purchasing an additional 536 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Cullen/Frost Bankers by 4.1% in the first quarter. Teachers Advisors LLC now owns 73,324 shares of the bank’s stock valued at $6,524,000 after purchasing an additional 2,879 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Cullen/Frost Bankers by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 537,021 shares of the bank’s stock valued at $47,779,000 after purchasing an additional 12,482 shares in the last quarter. Morgan Stanley raised its stake in shares of Cullen/Frost Bankers by 9.5% in the first quarter. Morgan Stanley now owns 187,957 shares of the bank’s stock valued at $16,723,000 after purchasing an additional 16,275 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Cullen/Frost Bankers in the first quarter valued at $206,000. Institutional investors and hedge funds own 81.38% of the company’s stock.
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.
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