Cullen/Frost Bankers, Inc. (CFR) To Go Ex-Dividend on November 29th

Cullen/Frost Bankers, Inc. (NYSE:CFR) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.95 per share by the bank on Friday, December 13th. This represents a $3.80 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, November 29th.

Cullen/Frost Bankers has raised its dividend by an average of 7.9% per year over the last three years and has increased its dividend every year for the last 31 years. Cullen/Frost Bankers has a dividend payout ratio of 44.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cullen/Frost Bankers to earn $8.39 per share next year, which means the company should continue to be able to cover its $3.80 annual dividend with an expected future payout ratio of 45.3%.

Cullen/Frost Bankers Stock Down 0.7 %

CFR stock opened at $142.91 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $124.74 and its 200 day moving average is $112.39. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.73 and a beta of 0.98. Cullen/Frost Bankers has a 1-year low of $94.09 and a 1-year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.07. The company had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. Cullen/Frost Bankers’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.38 earnings per share. Sell-side analysts predict that Cullen/Frost Bankers will post 8.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Compass Point upped their price objective on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Maxim Group increased their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Citigroup increased their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Finally, Morgan Stanley reduced their price target on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $123.86.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the transaction, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the transaction, the executive vice president now owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock valued at $2,977,033 over the last quarter. 3.00% of the stock is owned by company insiders.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, 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.