Brokerages Set Cullen/Frost Bankers, Inc. (NYSE:CFR) Price Target at $119.71

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) have received a consensus rating of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $119.64.

CFR has been the topic of a number of research reports. Morgan Stanley downgraded shares of Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $112.00 to $121.00 in a report on Monday, August 5th. Evercore ISI cut their price objective on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a research report on Tuesday, June 25th. Royal Bank of Canada lifted their target price on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” 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 company a “buy” rating in a report on Friday, July 26th. Finally, Wedbush dropped their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the transaction, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now owns 1,598 shares of the company’s stock, valued at $190,481.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on 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 owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by company insiders.

Institutional Trading of Cullen/Frost Bankers

Several large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth $72,627,000. Wells Fargo & Company MN boosted its holdings in Cullen/Frost Bankers by 12.6% during the fourth quarter. Wells Fargo & Company MN now owns 129,721 shares of the bank’s stock valued at $14,073,000 after acquiring an additional 14,553 shares during the period. Corient Private Wealth LLC grew its position in shares of Cullen/Frost Bankers by 68.5% in the fourth quarter. Corient Private Wealth LLC now owns 16,723 shares of the bank’s stock valued at $1,814,000 after purchasing an additional 6,796 shares during the last quarter. US Bancorp DE increased its stake in shares of Cullen/Frost Bankers by 57.2% in the fourth quarter. US Bancorp DE now owns 5,713 shares of the bank’s stock worth $620,000 after purchasing an additional 2,078 shares during the period. Finally, Commerce Bank lifted its position in shares of Cullen/Frost Bankers by 1.0% during the 4th quarter. Commerce Bank now owns 13,047 shares of the bank’s stock worth $1,415,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

CFR opened at $111.80 on Tuesday. The business has a 50 day moving average price of $110.83 and a two-hundred day moving average price of $106.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.37 and a beta of 1.00. Cullen/Frost Bankers has a 1-year low of $82.25 and a 1-year high of $123.17.

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

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.95 per share. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Friday, August 30th. Cullen/Frost Bankers’s payout ratio is currently 44.92%.

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.