Analysts Set Cullen/Frost Bankers, Inc. (NYSE:CFR) Price Target at $77.70

Cullen/Frost Bankers, Inc. (NYSE:CFR) has received a consensus rating of “Hold” from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $77.70.

Several research analysts have commented on CFR shares. TheStreet downgraded shares of Cullen/Frost Bankers from a “b-” rating to a “c+” rating in a research note on Monday, March 9th. Cfra decreased their target price on shares of Cullen/Frost Bankers from $91.00 to $60.00 and set a “sell” rating on the stock in a research note on Monday, May 18th. Maxim Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Cullen/Frost Bankers in a research note on Saturday, May 2nd. Keefe, Bruyette & Woods raised shares of Cullen/Frost Bankers from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Wednesday, April 1st. Finally, Compass Point assumed coverage on shares of Cullen/Frost Bankers in a research note on Tuesday, April 14th. They issued a “neutral” rating on the stock.

In other Cullen/Frost Bankers news, EVP William L. Perotti sold 9,360 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $78.81, for a total value of $737,661.60. Following the completion of the transaction, the executive vice president now owns 100,994 shares of the company’s stock, valued at approximately $7,959,337.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Graham M. Weston bought 29,400 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $68.00 per share, with a total value of $1,999,200.00. The disclosure for this purchase can be found here. 4.75% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFR. Wealth Quarterback LLC bought a new position in shares of Cullen/Frost Bankers during the 4th quarter valued at approximately $22,989,911,000. BlackRock Inc. grew its stake in shares of Cullen/Frost Bankers by 7.6% during the 1st quarter. BlackRock Inc. now owns 6,054,374 shares of the bank’s stock valued at $337,773,000 after acquiring an additional 427,872 shares during the period. Aristotle Capital Management LLC boosted its stake in Cullen/Frost Bankers by 3.9% in the 1st quarter. Aristotle Capital Management LLC now owns 3,960,249 shares of the bank’s stock worth $220,942,000 after purchasing an additional 147,039 shares during the period. Wellington Management Group LLP boosted its stake in Cullen/Frost Bankers by 2.1% in the 1st quarter. Wellington Management Group LLP now owns 2,259,050 shares of the bank’s stock worth $126,032,000 after purchasing an additional 46,759 shares during the period. Finally, Champlain Investment Partners LLC boosted its stake in Cullen/Frost Bankers by 21.1% in the 1st quarter. Champlain Investment Partners LLC now owns 1,639,615 shares of the bank’s stock worth $91,474,000 after purchasing an additional 285,165 shares during the period. 85.41% of the stock is owned by hedge funds and other institutional investors.

Shares of CFR stock traded up $2.03 during trading hours on Friday, reaching $74.57. The stock had a trading volume of 2,855 shares, compared to its average volume of 477,298. The stock’s fifty day simple moving average is $73.48 and its 200 day simple moving average is $78.35. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 12 month low of $47.69 and a 12 month high of $100.79. The firm has a market capitalization of $4.40 billion, a PE ratio of 12.51, a PEG ratio of 3.46 and a beta of 1.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, April 30th. The bank reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.16). The company had revenue of $481.37 million during the quarter, compared to analysts’ expectations of $364.53 million. Cullen/Frost Bankers had a net margin of 23.89% and a return on equity of 10.23%. During the same period in the prior year, the business earned $1.79 earnings per share. As a group, equities research analysts anticipate that Cullen/Frost Bankers will post 2.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Thursday, May 28th. Cullen/Frost Bankers’s payout ratio is 41.52%.

Cullen/Frost Bankers Company Profile

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

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Analyst Recommendations for Cullen/Frost Bankers (NYSE:CFR)

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