Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $140.00 at Keefe, Bruyette & Woods

Cullen/Frost Bankers (NYSE:CFR) had its target price raised by investment analysts at Keefe, Bruyette & Woods from $120.00 to $140.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 0.67% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Maxim Group raised their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush lowered their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Evercore ISI lowered their target price 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. Morgan Stanley reduced their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, September 30th. Finally, Royal Bank of Canada lifted their price objective on Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $125.43.

Cullen/Frost Bankers Stock Down 0.2 %

CFR stock traded down $0.32 during mid-day trading on Wednesday, reaching $139.07. The company had a trading volume of 22,024 shares, compared to its average volume of 449,273. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. The firm has a fifty day simple moving average of $128.15 and a 200 day simple moving average of $113.84. Cullen/Frost Bankers has a fifty-two week low of $94.09 and a fifty-two week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. Cullen/Frost Bankers’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 EPS. Analysts forecast that Cullen/Frost Bankers will post 8.73 earnings per share for the current fiscal year.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the transaction, the executive vice president now owns 2,888 shares in the company, valued at approximately $399,525.92. The trade was a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the transaction, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock valued at $2,977,033 over the last quarter. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CFR. Cetera Advisors LLC lifted its stake in shares of Cullen/Frost Bankers by 24.4% in the first quarter. Cetera Advisors LLC now owns 2,391 shares of the bank’s stock worth $269,000 after acquiring an additional 469 shares in the last quarter. Cardinal Capital Management raised its stake in Cullen/Frost Bankers by 5.8% during the second quarter. Cardinal Capital Management now owns 14,116 shares of the bank’s stock valued at $1,435,000 after buying an additional 778 shares in the last quarter. SG Americas Securities LLC raised its stake in Cullen/Frost Bankers by 44.8% during the second quarter. SG Americas Securities LLC now owns 4,720 shares of the bank’s stock valued at $480,000 after buying an additional 1,460 shares in the last quarter. Diversified Trust Co raised its stake in Cullen/Frost Bankers by 2.4% during the second quarter. Diversified Trust Co now owns 19,330 shares of the bank’s stock valued at $1,965,000 after buying an additional 462 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Cullen/Frost Bankers by 6.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock valued at $237,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds 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.