Cullen/Frost Bankers, Inc. (NYSE:CFR) Receives $123.86 Average Price Target from Brokerages

Cullen/Frost Bankers, Inc. (NYSE:CFR) has received a consensus recommendation of “Hold” from the fourteen research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $123.86.

A number of research analysts recently weighed in on CFR shares. Royal Bank of Canada upped 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. Wedbush dropped their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Compass Point upped their price objective on Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Truist Financial lowered their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Finally, Citigroup upped their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a report on Monday, November 4th.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $139.27 on Wednesday. Cullen/Frost Bankers has a 12 month low of $94.09 and a 12 month high of $144.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50 day simple moving average of $120.88 and a 200-day simple moving average of $110.88. The stock has a market capitalization of $8.93 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping the consensus estimate 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 business had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. During the same quarter in the prior year, the business earned $2.38 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Cullen/Frost Bankers will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction 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 own 2.89% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in shares of Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after purchasing an additional 141 shares during the period. Asset Dedication LLC lifted its position in Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after buying an additional 105 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Cullen/Frost Bankers during the third quarter worth approximately $44,000. Allworth Financial LP increased its position in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after acquiring an additional 239 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at $52,000. 86.90% of the stock is currently 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.