Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $130.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective raised by Royal Bank of Canada from $118.00 to $130.00 in a report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

A number of other research firms have also recently weighed in on CFR. DA Davidson increased their price objective on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Truist Financial lowered their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Stephens increased their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Citigroup lowered their target price on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a report on Monday, September 30th. Finally, Maxim Group boosted their price target 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. Four equities research 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. According to data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus target price of $124.00.

Cullen/Frost Bankers Price Performance

CFR stock opened at $124.91 on Friday. Cullen/Frost Bankers has a 52-week low of $91.24 and a 52-week high of $135.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.56 and a beta of 0.98. The business has a fifty day moving average of $115.61 and a two-hundred day moving average of $109.02.

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. The firm had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a net margin of 23.98% and a return on equity of 16.34%. Cullen/Frost Bankers’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 EPS. As a group, research analysts anticipate that Cullen/Frost Bankers will post 8.57 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 3.04%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 47.15%.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CFR. Keene & Associates Inc. grew its holdings in shares of Cullen/Frost Bankers by 1.7% during the third quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after purchasing an additional 89 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Cullen/Frost Bankers by 7.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after purchasing an additional 97 shares during the period. First National Bank of Hutchinson raised its position in Cullen/Frost Bankers by 1.6% in the first quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock worth $713,000 after acquiring an additional 102 shares in the last quarter. Asset Dedication LLC lifted its stake in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after purchasing an additional 105 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Cullen/Frost Bankers by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock valued at $76,000 after acquiring an additional 106 shares during the period. 86.90% of the stock is 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.