Cullen/Frost Bankers, Inc. (NYSE:CFR) Receives $127.07 Average Price Target from Analysts

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) have been assigned a consensus rating of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $127.07.

CFR has been the topic of several analyst reports. Wedbush dropped their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Truist Financial dropped their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Citigroup lifted their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods increased their price objective on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI cut 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 research note on Wednesday, October 2nd.

Cullen/Frost Bankers Trading Up 1.2 %

Shares of CFR opened at $134.40 on Thursday. Cullen/Frost Bankers has a 12 month low of $94.09 and a 12 month high of $147.64. The stock’s 50-day moving average is $136.66 and its two-hundred day moving average is $119.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $8.62 billion, a PE ratio of 16.67, a P/E/G ratio of 1.66 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $517.25 million. During the same quarter last year, the company earned $2.38 earnings per share. Cullen/Frost Bankers’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts forecast that Cullen/Frost Bankers will post 8.75 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Insider Transactions at Cullen/Frost Bankers

In other news, CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the transaction, the chief executive officer now owns 94,423 shares of the company’s stock, valued at $13,026,597.08. The trade was a 13.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $138.34, for a total transaction of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,864 shares of company stock valued at $2,977,033. Corporate insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CFR. Boston Trust Walden Corp purchased a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at approximately $107,166,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Cullen/Frost Bankers during the 3rd quarter valued at $54,012,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Cullen/Frost Bankers in the second quarter valued at $37,813,000. The Manufacturers Life Insurance Company boosted its position in shares of Cullen/Frost Bankers by 117.4% in the third quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank’s stock worth $63,618,000 after buying an additional 307,129 shares during the period. Finally, Barclays PLC raised its position in Cullen/Frost Bankers by 234.5% during the third quarter. Barclays PLC now owns 436,393 shares of the bank’s stock valued at $48,814,000 after buying an additional 305,921 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.