Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $108.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective decreased by Jefferies Financial Group from $117.00 to $108.00 in a research report report published on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the bank’s stock.

CFR has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price target on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an overweight rating for the company in a report on Thursday, June 27th. Royal Bank of Canada restated a sector perform rating and set a $118.00 price target on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. Evercore ISI cut their price target on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating for the company in a report on Tuesday, June 25th. Truist Financial cut their price target on shares of Cullen/Frost Bankers from $121.00 to $115.00 and set a hold rating for the company in a report on Monday, April 29th. Finally, Wedbush restated a neutral rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Cullen/Frost Bankers has an average rating of Hold and an average target price of $114.69.

Cullen/Frost Bankers Trading Down 2.5 %

CFR opened at $98.49 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50 day simple moving average is $102.16 and its two-hundred day simple moving average is $105.82. Cullen/Frost Bankers has a 1-year low of $82.25 and a 1-year high of $120.31. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. The business had revenue of $522.74 million for the quarter, compared to analyst estimates of $510.09 million. During the same period last year, the company posted $2.70 EPS. Analysts expect that Cullen/Frost Bankers will post 8.4 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.92 dividend. The ex-dividend date was Thursday, May 30th. This represents a $3.68 annualized dividend and a dividend yield of 3.74%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 43.50%.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Cullen/Frost Bankers by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock worth $695,729,000 after acquiring an additional 19,755 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Cullen/Frost Bankers by 18.4% in the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after acquiring an additional 495,215 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after acquiring an additional 161,580 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Cullen/Frost Bankers by 1.6% in the first quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock worth $92,432,000 after acquiring an additional 12,897 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after acquiring an additional 244,197 shares in the last quarter. Institutional investors and hedge funds 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.