Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $104.00

Cullen/Frost Bankers (NYSE:CFR) had its target price cut by investment analysts at Citigroup from $107.00 to $104.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “sell” rating on the bank’s stock. Citigroup’s target price points to a potential downside of 7.32% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Wedbush decreased their target price on 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. 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. JPMorgan Chase & Co. dropped their price target on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Royal Bank of Canada raised their target price 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, Evercore ISI dropped their price target 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. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus price target of $120.07.

Cullen/Frost Bankers Stock Up 0.9 %

Shares of NYSE CFR traded up $1.02 during midday trading on Monday, hitting $112.21. 68,044 shares of the company’s stock were exchanged, compared to its average volume of 442,684. The firm’s fifty day simple moving average is $110.78 and its 200-day simple moving average is $106.98. 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 cap of $7.18 billion, a PE ratio of 13.26, a P/E/G ratio of 1.36 and a beta of 1.00. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $123.17.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results 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 net margin of 19.51% and a return on equity of 17.43%. The firm had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. During the same period last year, the firm posted $2.47 EPS. Research analysts predict that Cullen/Frost Bankers will post 8.62 EPS for the current fiscal year.

Insider Activity

In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares in the company, valued at $2,243,796.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s 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 sale, the executive vice president now owns 18,753 shares in the company, valued at $2,243,796.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the sale, the executive vice president now owns 1,598 shares of the company’s stock, valued at $190,481.60. The disclosure for this sale can be found here. 2.89% of the stock is owned by insiders.

Institutional Trading of Cullen/Frost Bankers

A number of institutional investors have recently added to or reduced their stakes in CFR. US Bancorp DE lifted its position in Cullen/Frost Bankers by 57.2% during the 4th quarter. US Bancorp DE now owns 5,713 shares of the bank’s stock worth $620,000 after acquiring an additional 2,078 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Cullen/Frost Bankers by 6.6% during the fourth quarter. Hsbc Holdings PLC now owns 15,071 shares of the bank’s stock worth $1,641,000 after buying an additional 930 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Cullen/Frost Bankers by 89.7% in the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock worth $50,000 after acquiring an additional 218 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Cullen/Frost Bankers by 304.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,986 shares of the bank’s stock worth $432,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Cullen/Frost Bankers by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 26,255 shares of the bank’s stock valued at $2,848,000 after purchasing an additional 260 shares during the last quarter. 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.