Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $122.00

Cullen/Frost Bankers (NYSE:CFR) had its target price increased by Compass Point from $111.00 to $122.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

A number of other equities research analysts have also commented on CFR. Maxim Group upped their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wedbush dropped their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. DA Davidson lifted their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Citigroup increased their price target on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a report on Monday. Finally, Morgan Stanley reduced their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $123.86.

Cullen/Frost Bankers Price Performance

NYSE:CFR traded up $1.25 on Tuesday, hitting $139.30. The company had a trading volume of 29,048 shares, compared to its average volume of 455,563. Cullen/Frost Bankers has a 52 week low of $91.24 and a 52 week high of $144.19. 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 stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.74 and a beta of 0.98. The firm has a 50 day moving average of $117.36 and a two-hundred day moving average of $109.68.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. The company had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.38 earnings per share. On average, research analysts anticipate that Cullen/Frost Bankers will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.73%. Cullen/Frost Bankers’s payout ratio is 47.15%.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Prospera Financial Services Inc purchased a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $200,000. Pathstone Holdings LLC boosted its holdings in shares of Cullen/Frost Bankers by 45.0% in the third quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank’s stock valued at $2,156,000 after purchasing an additional 5,981 shares during the period. LMR Partners LLP bought a new position in Cullen/Frost Bankers in the third quarter worth approximately $402,000. Quest Partners LLC purchased a new position in Cullen/Frost Bankers during the 3rd quarter worth $369,000. Finally, Glass Wealth Management Co LLC raised its position in Cullen/Frost Bankers by 19.9% during the 3rd quarter. Glass Wealth Management Co LLC now owns 35,224 shares of the bank’s stock valued at $3,940,000 after purchasing an additional 5,837 shares in the last quarter. 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.