Cullen/Frost Bankers (NYSE:CFR) Stock Price Expected to Rise, Citigroup Analyst Says

Cullen/Frost Bankers (NYSE:CFR) had its price target raised by equities researchers at Citigroup from $104.00 to $113.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “sell” rating on the bank’s stock. Citigroup’s price target would suggest a potential downside of 11.47% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Truist Financial lowered their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Morgan Stanley lowered their price target 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. Maxim Group increased their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada boosted their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Finally, Wedbush cut their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $123.86.

Cullen/Frost Bankers Trading Up 2.2 %

NYSE:CFR opened at $127.64 on Monday. Cullen/Frost Bankers has a 52 week low of $91.24 and a 52 week high of $135.00. The firm has a 50-day moving average price of $116.22 and a two-hundred day moving average price of $109.24. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The company had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same period last year, the business posted $2.38 earnings per share. Cullen/Frost Bankers’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts expect that Cullen/Frost Bankers will post 8.61 earnings per share for the current fiscal year.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of the firm’s 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 sale, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This trade 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 through the SEC website. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of institutional investors have recently made changes to their positions in CFR. Boston Trust Walden Corp bought a new stake in shares of Cullen/Frost Bankers during the 3rd quarter worth $107,166,000. Champlain Investment Partners LLC raised its position in Cullen/Frost Bankers by 18.4% during the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after purchasing an additional 495,215 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in shares of Cullen/Frost Bankers in the 2nd quarter worth about $37,813,000. Strategic Financial Concepts LLC boosted its holdings in shares of Cullen/Frost Bankers by 7,109.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock worth $255,000 after purchasing an additional 247,416 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Cullen/Frost Bankers by 18.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after purchasing an additional 161,580 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

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.