Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $100.00

Cullen/Frost Bankers (NYSE:CFR) had its price target lowered by Evercore ISI from $109.00 to $100.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an underperform rating on the bank’s stock.

Several other equities research analysts also recently issued reports on CFR. StockNews.com raised Cullen/Frost Bankers to a sell rating in a research report on Saturday, May 4th. Jefferies Financial Group raised their price objective on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a hold rating in a report on Monday, April 8th. Truist Financial dropped their price objective on shares of Cullen/Frost Bankers from $121.00 to $115.00 and set a hold rating for the company in a report on Monday, April 29th. JPMorgan Chase & Co. raised their price objective on shares of Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an overweight rating in a report on Thursday, April 4th. Finally, Wedbush reissued a neutral rating and issued a $115.00 price target on shares of Cullen/Frost Bankers in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $115.69.

Cullen/Frost Bankers Trading Up 2.3 %

NYSE CFR opened at $101.67 on Tuesday. Cullen/Frost Bankers has a 1-year low of $82.25 and a 1-year high of $120.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $6.53 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.02. The firm’s fifty day simple moving average is $103.05 and its 200-day simple moving average is $105.96.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, topping the consensus estimate of $2.13 by $0.02. The firm had revenue of $522.74 million for the quarter, compared to the consensus estimate of $510.09 million. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same period in the prior year, the business posted $2.70 earnings per share. As a group, sell-side analysts anticipate that Cullen/Frost Bankers will post 8.42 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Thursday, May 30th. Cullen/Frost Bankers’s dividend payout ratio is presently 43.50%.

Hedge Funds Weigh In On Cullen/Frost Bankers

Hedge funds and other institutional investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in Cullen/Frost Bankers during the 4th quarter worth about $33,000. Arvest Investments Inc. acquired a new position in shares of Cullen/Frost Bankers during the 4th quarter worth about $35,000. CWM LLC increased its stake in shares of Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Cullen/Frost Bankers during the 4th quarter worth about $43,000. Finally, Whittier Trust Co. increased its stake in shares of Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after purchasing an additional 186 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

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.