Maxim Group Boosts Cullen/Frost Bankers (NYSE:CFR) Price Target to $149.00

Cullen/Frost Bankers (NYSE:CFR) had its price target upped by research analysts at Maxim Group from $138.00 to $149.00 in a research note issued on Friday, MarketBeat.com reports. The firm presently has a “buy” rating on the bank’s stock. Maxim Group’s price objective suggests a potential upside of 18.27% from the company’s previous close.

Several other equities research analysts have also commented on the company. Truist Financial decreased their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Royal Bank of Canada boosted their price target on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Citigroup decreased their price target on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a research note on Monday, September 30th. DA Davidson boosted 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. Finally, Evercore ISI decreased their price target on 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. Four investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $123.31.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $125.98 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $115.61 and its two-hundred day moving average is $109.00. Cullen/Frost Bankers has a 12-month low of $90.94 and a 12-month high of $135.00. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.56 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.08. Cullen/Frost Bankers had a return on equity of 16.34% and a net margin of 23.98%. The company had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. During the same quarter in the previous year, the firm posted $2.38 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Research analysts expect that Cullen/Frost Bankers will post 8.57 EPS for the current year.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of institutional investors and hedge funds have recently bought and sold shares of CFR. Covestor Ltd raised its holdings in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. Asset Dedication LLC raised its holdings in Cullen/Frost Bankers by 63.3% in the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after acquiring an additional 105 shares during the last quarter. Whittier Trust Co. raised its holdings in Cullen/Frost Bankers by 90.7% in the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after acquiring an additional 186 shares during the last quarter. Allworth Financial LP raised its holdings in Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after acquiring an additional 239 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Cullen/Frost Bankers in the 3rd quarter valued at $52,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.