Cullen/Frost Bankers (NYSE:CFR) Given New $108.00 Price Target at Jefferies Financial Group

Cullen/Frost Bankers (NYSE:CFR) had its price target lowered by investment analysts at Jefferies Financial Group from $117.00 to $108.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 9.66% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. StockNews.com upgraded Cullen/Frost Bankers to a “sell” rating in a report on Saturday, May 4th. Evercore ISI dropped their price target on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a research note on Tuesday, June 25th. Truist Financial reduced their price objective on shares of Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. JPMorgan Chase & Co. decreased their price objective on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $118.00 target price on shares of Cullen/Frost Bankers in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $114.69.

Cullen/Frost Bankers Stock Down 2.5 %

Shares of Cullen/Frost Bankers stock opened at $98.49 on Wednesday. The company’s 50 day moving average price is $101.92 and its 200-day moving average price is $105.77. Cullen/Frost Bankers has a 52-week low of $82.25 and a 52-week high of $120.31. 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 stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.27 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. The firm had revenue of $522.74 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $2.70 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers will post 8.39 EPS for the current year.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several hedge funds have recently added to or reduced their stakes in CFR. Norges Bank purchased a new position in shares of Cullen/Frost Bankers in the 4th quarter worth about $72,627,000. Champlain Investment Partners LLC raised its holdings in Cullen/Frost Bankers by 18.4% in the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after buying an additional 495,215 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after buying an additional 244,197 shares during the last quarter. Polaris Capital Management LLC lifted its stake in shares of Cullen/Frost Bankers by 87.9% in the fourth quarter. Polaris Capital Management LLC now owns 359,100 shares of the bank’s stock worth $38,959,000 after buying an additional 168,000 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Cullen/Frost Bankers by 18.8% during the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after buying an additional 161,580 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.