Cullen/Frost Bankers (NYSE:CFR) Sets New 12-Month Low at $90.26

Posted by Defense World Staff on Sep 24th, 2023

Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $90.26 and last traded at $90.53, with a volume of 16149 shares changing hands. The stock had previously closed at $90.93.

Wall Street Analyst Weigh In

CFR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Cullen/Frost Bankers from $130.00 to $135.00 in a research report on Thursday, June 29th. Royal Bank of Canada reduced their price objective on shares of Cullen/Frost Bankers from $127.00 to $122.00 and set a “sector perform” rating on the stock in a research report on Friday, July 28th. Morgan Stanley reduced their price objective on shares of Cullen/Frost Bankers from $121.00 to $116.00 in a research report on Friday, July 7th. Wedbush reduced their target price on shares of Cullen/Frost Bankers from $120.00 to $112.00 and set a “neutral” rating on the stock in a research report on Friday, July 28th. Finally, Stephens reduced their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus target price of $124.60.

Check Out Our Latest Stock Analysis on Cullen/Frost Bankers

Cullen/Frost Bankers Trading Down 1.0 %

The company has a market cap of $5.77 billion, a P/E ratio of 8.44, a PEG ratio of 1.04 and a beta of 1.06. The stock’s 50 day moving average is $101.07 and its 200-day moving average is $104.01. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.07.

Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. The company had revenue of $512.12 million for the quarter, compared to analysts’ expectations of $496.85 million. Cullen/Frost Bankers had a net margin of 29.14% and a return on equity of 22.93%. During the same quarter in the previous year, the business posted $1.81 EPS. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 9.24 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.92 dividend. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 4.09%. Cullen/Frost Bankers’s payout ratio is presently 34.49%.

Hedge Funds Weigh In On Cullen/Frost Bankers

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in Cullen/Frost Bankers in the 4th quarter worth about $26,000. Macquarie Group Ltd. bought a new position in Cullen/Frost Bankers during the 1st quarter valued at about $25,000. Ellevest Inc. lifted its stake in Cullen/Frost Bankers by 687.1% during the 1st quarter. Ellevest Inc. now owns 244 shares of the bank’s stock valued at $26,000 after acquiring an additional 213 shares during the period. ICA Group Wealth Management LLC bought a new position in Cullen/Frost Bankers during the 4th quarter valued at about $36,000. Finally, Clearstead Advisors LLC bought a new position in Cullen/Frost Bankers during the 1st quarter valued at about $29,000. Institutional investors own 81.39% of the company’s stock.

About Cullen/Frost Bankers

(Get Free Report)

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides 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; and treasury management services, as well as originates commercial leasing services.