JPMorgan Chase & Co. Cuts Cullen/Frost Bankers (NYSE:CFR) Price Target to $130.00

Cullen/Frost Bankers (NYSE:CFR) had its target price trimmed by JPMorgan Chase & Co. from $140.00 to $130.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group increased their price target on Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a hold rating in a research note on Monday, April 8th. StockNews.com raised shares of Cullen/Frost Bankers to a sell rating in a research report on Saturday, May 4th. Truist Financial cut 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. DA Davidson reissued a buy rating and set a $126.00 target price on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Finally, Evercore ISI cut their price target on Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating for the company in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $115.69.

Cullen/Frost Bankers Price Performance

CFR opened at $101.63 on Thursday. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $120.31. The firm has a 50-day moving average of $103.05 and a 200 day moving average of $105.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $6.53 billion, a P/E ratio of 12.01, a PEG ratio of 1.24 and a beta of 1.02.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. The company had revenue of $522.74 million during the quarter, compared to analyst estimates of $510.09 million. During the same quarter last year, the business posted $2.70 EPS. On average, research analysts expect that Cullen/Frost Bankers will post 8.42 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC purchased a new position in Cullen/Frost Bankers in the 4th quarter worth approximately $33,000. Arvest Investments Inc. purchased a new stake in Cullen/Frost Bankers during the fourth quarter valued at about $35,000. CWM LLC lifted its stake in Cullen/Frost Bankers by 46.5% during the first 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 purchased a new position in shares of Cullen/Frost Bankers in the 4th quarter worth about $43,000. Finally, Whittier Trust Co. boosted its holdings in shares of Cullen/Frost Bankers by 90.7% in the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after purchasing an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

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.