Cullen/Frost Bankers (NYSE:CFR) Given New $145.00 Price Target at Compass Point

Cullen/Frost Bankers (NYSE:CFR) had its price target raised by Compass Point from $122.00 to $145.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

Several other analysts have also recently weighed in on the stock. Maxim Group boosted their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Truist Financial dropped their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Evercore ISI dropped their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Morgan Stanley dropped their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. Finally, Stephens boosted their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $127.07.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $137.55 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a twelve month low of $94.09 and a twelve month high of $147.64. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.65 and a beta of 0.99. The company’s fifty day moving average is $132.06 and its 200 day moving average is $115.38.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. During the same quarter in the previous year, the firm posted $2.38 earnings per share. Cullen/Frost Bankers’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts forecast that Cullen/Frost Bankers will post 8.75 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the transaction, the executive vice president now owns 2,888 shares in the company, valued at approximately $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phillip D. Green sold 14,358 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the sale, the chief executive officer now directly owns 94,423 shares of the company’s stock, valued at $13,026,597.08. This represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,864 shares of company stock worth $2,977,033. Corporate insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CFR. Covestor Ltd grew its stake in shares of Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after acquiring an additional 141 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Cullen/Frost Bankers during the 3rd quarter worth about $29,000. Asset Dedication LLC lifted its holdings in Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Cullen/Frost Bankers during the 3rd quarter worth about $44,000. Finally, Allworth Financial LP lifted its holdings in Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after purchasing an additional 239 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

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.