Brokerages Set Cullen/Frost Bankers, Inc. (NYSE:CFR) Price Target at $121.31

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) have been given an average rating of “Hold” by the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $121.31.

CFR has been the topic of several recent analyst reports. Citigroup dropped their target price on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a report on Monday, September 30th. Evercore ISI cut their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Stephens lifted their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price target on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Wedbush reduced their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $120.51 on Friday. The stock has a market capitalization of $7.74 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.52 and a beta of 1.00. The business’s fifty day moving average price is $112.20 and its 200 day moving average price is $107.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers has a 12-month low of $82.25 and a 12-month high of $124.91.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 25th. The bank reported $2.21 EPS 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 company had revenue of $528.81 million during the quarter, compared to analyst estimates of $506.83 million. During the same period in the prior year, the company earned $2.47 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers will post 8.59 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.95 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, August 30th. Cullen/Frost Bankers’s payout ratio is 44.92%.

Insider Activity

In other news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction on Wednesday, July 31st. The stock was 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 in the company, valued at approximately $190,481.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 18,753 shares in the company, valued at $2,243,796.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $357,600.00. Following the sale, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Institutional Trading of Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Cullen/Frost Bankers by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock worth $695,729,000 after purchasing an additional 19,755 shares during the last quarter. CWM LLC increased its holdings in Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after buying an additional 106 shares during the last quarter. GAMMA Investing LLC raised its position in Cullen/Frost Bankers by 40.7% during the first quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock valued at $65,000 after acquiring an additional 166 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in Cullen/Frost Bankers in the first quarter valued at approximately $281,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Cullen/Frost Bankers in the 1st quarter valued at $211,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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.