Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $123.00 at Wedbush

Cullen/Frost Bankers (NYSE:CFR) had its price target cut by research analysts at Wedbush from $124.00 to $123.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Wedbush’s price objective points to a potential upside of 9.57% from the company’s current price.

Several other brokerages have also recently issued reports on CFR. Morgan Stanley cut Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $112.00 to $121.00 in a research note on Monday, August 5th. DA Davidson boosted their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Maxim Group upped their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Evercore ISI reduced their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a report on Tuesday, June 25th. Finally, Truist Financial dropped their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $119.64.

Cullen/Frost Bankers Price Performance

Shares of CFR traded down $0.28 during trading hours on Tuesday, hitting $112.26. 146,721 shares of the stock were exchanged, compared to its average volume of 444,603. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers has a 12-month low of $82.25 and a 12-month high of $123.17. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00. The stock’s 50-day moving average price is $110.88 and its two-hundred day moving average price is $106.87.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.14. The company had revenue of $528.81 million during the quarter, compared to analysts’ expectations of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same period in the prior year, the business earned $2.47 EPS. Research analysts expect that Cullen/Frost Bankers will post 8.62 earnings per share for the current year.

Insider Activity

In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the transaction, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the sale, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the sale, the executive vice president now directly owns 18,753 shares in the company, valued at $2,243,796.45. The disclosure for this sale can be found here. 2.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CFR. Tidal Investments LLC boosted its stake in Cullen/Frost Bankers by 125.2% in the first quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock valued at $1,338,000 after buying an additional 6,610 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in Cullen/Frost Bankers by 4.5% during the 4th quarter. Westwood Holdings Group Inc. now owns 371,879 shares of the bank’s stock worth $40,345,000 after buying an additional 15,981 shares during the period. Oak Harvest Investment Services acquired a new position in shares of Cullen/Frost Bankers in the first quarter worth approximately $2,972,000. Goldman Sachs Group Inc. lifted its position in shares of Cullen/Frost Bankers by 44.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after purchasing an additional 244,197 shares during the period. Finally, Natixis bought a new stake in Cullen/Frost Bankers in the first quarter worth approximately $957,000. 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.