Key Points
- Cullen/Frost Bankers EVP Carol Jean Severyn sold 837 shares on June 12 at an average price of $148.29, generating about $124,119. After the sale, she still owned 12,712 shares valued at roughly $1.89 million.
- The company recently reported better-than-expected quarterly earnings, with EPS of $2.65 versus the $2.49 consensus estimate, though revenue came in below forecasts at $574.84 million.
- Cullen/Frost also raised its quarterly dividend to $1.03 per share from $1.00, implying an annualized yield of 2.8%. Analysts currently have a consensus rating of Hold with an average price target of $148.73.
Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the sale, the executive vice president directly owned 12,712 shares of the company's stock, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Cullen/Frost Bankers Price Performance
Shares of NYSE:CFR opened at $145.02 on Tuesday. The company's fifty day moving average price is $140.41 and its 200 day moving average price is $136.95. Cullen/Frost Bankers, Inc. has a 12 month low of $119.00 and a 12 month high of $148.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $9.11 billion, a P/E ratio of 14.12, a P/E/G ratio of 3.75 and a beta of 0.55.
Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. The firm had revenue of $574.84 million for the quarter, compared to analyst estimates of $587.29 million. During the same period last year, the business earned $2.30 EPS. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 10.46 earnings per share for the current fiscal year.
Cullen/Frost Bankers Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, May 29th. This represents a $4.12 annualized dividend and a yield of 2.8%. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $1.00. Cullen/Frost Bankers's dividend payout ratio (DPR) is 40.12%.
Wall Street Analyst Weigh In
CFR has been the topic of several research analyst reports. Barclays lifted their price target on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 7th. Weiss Ratings upgraded shares of Cullen/Frost Bankers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. Citigroup lifted their price target on shares of Cullen/Frost Bankers from $125.00 to $131.00 and gave the stock a "sell" rating in a research note on Thursday, May 7th. Stephens upgraded shares of Cullen/Frost Bankers from an "equal weight" rating to an "overweight" rating and set a $164.00 price target on the stock in a research note on Tuesday, May 5th. Finally, DA Davidson lifted their price target on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $148.73.
Get Our Latest Stock Report on Cullen/Frost Bankers
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in Cullen/Frost Bankers by 18.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank's stock valued at $209,833,000 after purchasing an additional 236,808 shares during the period. Geode Capital Management LLC increased its stake in Cullen/Frost Bankers by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank's stock valued at $155,059,000 after purchasing an additional 10,246 shares during the period. Bank of America Corp DE increased its stake in Cullen/Frost Bankers by 11.8% in the first quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank's stock valued at $165,966,000 after purchasing an additional 127,483 shares during the period. Northern Trust Corp increased its stake in Cullen/Frost Bankers by 2.3% in the third quarter. Northern Trust Corp now owns 965,821 shares of the bank's stock valued at $122,437,000 after purchasing an additional 21,793 shares during the period. Finally, First Trust Advisors LP increased its stake in Cullen/Frost Bankers by 6.2% in the first quarter. First Trust Advisors LP now owns 789,930 shares of the bank's stock valued at $108,284,000 after purchasing an additional 45,921 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.
About Cullen/Frost Bankers
(
Get Free Report)
Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.
Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.
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