Cullen/Frost Bankers (NYSE:CFR) Stock Breaks Above Fifty Day Moving Average – What’s Next?

Cullen/Frost Bankers, Inc. (NYSE:CFR) shares passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $158.49 and traded as high as $159.56. Cullen/Frost Bankers shares last traded at $158.67, with a volume of 582,729 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CFR shares. Royal Bank Of Canada dropped their target price on Cullen/Frost Bankers from $176.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, October 9th. Raymond James Financial reiterated a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a research note on Tuesday, October 13th. Jefferies Financial Group raised shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $135.00 to $160.00 in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $169.36.

Cullen/Frost Bankers Trading Up 1.0%

The company has a fifty day moving average of $158.49 and a 200-day moving average of $148.39. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 1.83 and a beta of 0.56.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. The company had revenue of $576.01 million for the quarter, compared to analysts’ expectations of $589.72 million. During the same quarter in the previous year, the company posted $2.39 EPS. As a group, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.94 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 31st. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 38.94%.

Institutional Investors Weigh In On Cullen/Frost Bankers

Large investors have recently made changes to their positions in the stock. Symphony Financial Ltd. Co. grew its position in shares of Cullen/Frost Bankers by 2.2% during the second quarter. Symphony Financial Ltd. Co. now owns 3,482 shares of the bank’s stock worth $539,000 after buying an additional 75 shares in the last quarter. Reyes Financial Architecture Inc. grew its position in shares of Cullen/Frost Bankers by 14.4% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 611 shares of the bank’s stock valued at $93,000 after buying an additional 77 shares during the last quarter. Evolve Private Wealth LLC grew its holdings in shares of Cullen/Frost Bankers by 6.0% during the first quarter. Evolve Private Wealth LLC now owns 1,726 shares of the bank’s stock valued at $237,000 after purchasing an additional 98 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Cullen/Frost Bankers by 0.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,921 shares of the bank’s stock worth $1,771,000 after buying an additional 100 shares during the period. Finally, State of Michigan Retirement System increased its holdings in shares of Cullen/Frost Bankers by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 15,164 shares of the bank’s stock worth $2,079,000 after acquiring an additional 100 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

About Cullen/Frost Bankers

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.