Evercore ISI Cuts Cullen/Frost Bankers (NYSE:CFR) Price Target to $115.00

Cullen/Frost Bankers (NYSE:CFR) had its target price decreased by equities researchers at Evercore ISI from $123.00 to $115.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “underperform” rating on the bank’s stock. Evercore ISI’s price objective would suggest a potential upside of 6.18% from the stock’s previous close.

A number of other research analysts have also commented on the company. Jefferies Financial Group decreased their price objective on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Stephens upped their price objective on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. decreased their price objective on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Wedbush reduced their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Finally, Maxim Group raised their price objective on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus target price of $121.14.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR traded up $0.33 during trading hours on Wednesday, reaching $108.31. 18,198 shares of the stock were exchanged, compared to its average volume of 441,064. The stock’s fifty day simple moving average is $110.73 and its 200 day simple moving average is $107.03. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 1.36 and a beta of 1.00. Cullen/Frost Bankers has a 52 week low of $82.25 and a 52 week high of $123.17. 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 (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $528.81 million for the quarter, compared to analyst estimates of $506.83 million. During the same period in the prior year, the firm posted $2.47 EPS. Sell-side analysts predict that Cullen/Frost Bankers will post 8.62 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $357,600.00. Following the completion of the transaction, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The disclosure for this sale can be found here. Company insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of large investors have recently modified their holdings of the company. Tidal Investments LLC lifted its stake in Cullen/Frost Bankers by 125.2% in the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock worth $1,338,000 after purchasing an additional 6,610 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Cullen/Frost Bankers by 4.5% during the fourth quarter. Westwood Holdings Group Inc. now owns 371,879 shares of the bank’s stock valued at $40,345,000 after buying an additional 15,981 shares during the period. Oak Harvest Investment Services purchased a new position in Cullen/Frost Bankers during the first quarter worth about $2,972,000. Goldman Sachs Group Inc. increased its stake in 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 acquiring an additional 244,197 shares during the last quarter. Finally, Natixis bought a new stake in shares of Cullen/Frost Bankers during the 1st quarter valued at about $957,000. 86.90% of the stock is currently 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.