Cullen/Frost Bankers (NYSE:CFR) Cut to Market Perform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Cullen/Frost Bankers (NYSE:CFR) from an outperform rating to a market perform rating in a research note released on Monday morning, MarketBeat Ratings reports. Keefe, Bruyette & Woods currently has $175.00 price objective on the bank’s stock, down from their prior price objective of $180.00.

Other equities analysts have also issued research reports about the company. Wall Street Zen upgraded Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. Cantor Fitzgerald lowered their target price on Cullen/Frost Bankers from $175.00 to $167.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 14th. Zacks Research lowered Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Barclays lifted their price target on Cullen/Frost Bankers from $160.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 5th. Finally, TD Cowen reduced their price target on Cullen/Frost Bankers from $185.00 to $178.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $171.55.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $159.67 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The firm has a market cap of $9.93 billion, a PE ratio of 14.65, a P/E/G ratio of 1.70 and a beta of 0.52. Cullen/Frost Bankers has a 12 month low of $119.14 and a 12 month high of $170.80. The stock has a fifty day moving average price of $157.53 and a 200-day moving average price of $149.17.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, October 29th. The bank reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $603.83 million during the quarter, compared to analyst estimates of $610.19 million. Cullen/Frost Bankers had a net margin of 23.37% and a return on equity of 16.27%. During the same period last year, the firm posted $2.67 EPS. Equities research analysts predict that Cullen/Frost Bankers will post 11.00 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. Cullen/Frost Bankers’s dividend payout ratio is 38.33%.

Insider Activity

In related news, CAO Matthew Bradley Henson sold 534 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $159.72, for a total value of $85,290.48. Following the sale, the chief accounting officer owned 317 shares in the company, valued at approximately $50,631.24. The trade was a 62.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bobby Berman sold 2,406 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $157.10, for a total transaction of $377,982.60. Following the sale, the executive vice president directly owned 28,406 shares in the company, valued at approximately $4,462,582.60. The trade was a 7.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Cullen/Frost Bankers in the second quarter valued at approximately $1,133,453,000. Jupiter Topco LLC acquired a new stake in Cullen/Frost Bankers during the second quarter worth approximately $94,297,000. William Blair Investment Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth approximately $89,425,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth approximately $80,127,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Cullen/Frost Bankers in the 2nd quarter valued at $79,846,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers personal and commercial deposit accounts, loans, mortgages, treasury management, payments and other business banking services. The company also provides wealth management, trust and investment services, brokerage services and insurance solutions through its related businesses.

Frost traces its history to 1868, when Thomas Claiborne Frost founded the bank in San Antonio.