Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $115.00

Cullen/Frost Bankers (NYSE:CFR) had its target price reduced by Evercore ISI from $123.00 to $115.00 in a research note published on Wednesday, Benzinga reports. Evercore ISI currently has an underperform rating on the bank’s stock.

A number of other research analysts have also weighed in on CFR. DA Davidson increased their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a buy rating in a research note on Friday, July 26th. 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 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 report on Friday, September 20th. Citigroup cut their price objective on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a sell rating on the stock in a report on Monday, September 30th. Finally, Wedbush decreased their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a neutral rating on the stock in a research report on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $121.14.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $113.32 on Wednesday. Cullen/Frost Bankers has a 12-month low of $82.25 and a 12-month high of $123.17. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 1.32 and a beta of 1.00. The company’s 50-day moving average is $110.17 and its two-hundred day moving average is $107.12. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. During the same quarter in the prior year, the firm posted $2.47 earnings per share. Research analysts expect that Cullen/Frost Bankers will post 8.64 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.95 dividend. The ex-dividend date was Friday, August 30th. This represents a $3.80 annualized dividend and a dividend yield of 3.35%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio is presently 44.92%.

Insider Activity

In related news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the sale, the executive vice president now owns 18,753 shares of the company’s stock, valued at $2,243,796.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 1,598 shares in the company, valued at approximately $190,481.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of large investors have recently added to or reduced their stakes in CFR. Sanctuary Advisors LLC purchased a new position in Cullen/Frost Bankers in the 2nd quarter valued at about $2,199,000. Point72 Asset Management L.P. acquired a new position in shares of Cullen/Frost Bankers in the second quarter worth about $13,574,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cullen/Frost Bankers by 2.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank’s stock worth $600,000 after acquiring an additional 156 shares in the last quarter. Creative Planning boosted its holdings in Cullen/Frost Bankers by 7.4% in the second quarter. Creative Planning now owns 8,449 shares of the bank’s stock valued at $859,000 after purchasing an additional 585 shares during the last quarter. Finally, Algert Global LLC grew its stake in Cullen/Frost Bankers by 19.7% during the 2nd quarter. Algert Global LLC now owns 37,301 shares of the bank’s stock valued at $3,791,000 after purchasing an additional 6,143 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

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.