Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $148.00

Cullen/Frost Bankers (NYSE:CFR) had its price target hoisted by Keefe, Bruyette & Woods from $140.00 to $148.00 in a report published on Monday,Benzinga reports. They currently have a market perform rating on the bank’s stock.

A number of other equities analysts have also recently issued reports on the company. Compass Point upped their target price on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Maxim Group upped their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $144.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday. Stephens raised their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, DA Davidson lowered Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and upped their price target for the company from $138.00 to $143.00 in a research report on Monday. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $130.31.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $136.00 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $8.72 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. Cullen/Frost Bankers has a twelve month low of $94.09 and a twelve month high of $147.64. The stock’s 50-day simple moving average is $137.72 and its 200 day simple moving average is $125.10.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 16.04%. On average, analysts anticipate that Cullen/Frost Bankers will post 8.66 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, February 28th. Cullen/Frost Bankers’s payout ratio is 42.84%.

Insider Activity

In related news, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the sale, the chief executive officer now directly owns 94,423 shares of the company’s stock, valued at $13,026,597.08. The trade was a 13.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,858 shares of company stock worth $4,137,865. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CFR. Creative Planning increased its position in shares of Cullen/Frost Bankers by 7.4% during the second quarter. Creative Planning now owns 8,449 shares of the bank’s stock worth $859,000 after acquiring an additional 585 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Cullen/Frost Bankers by 2.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank’s stock worth $600,000 after purchasing an additional 156 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Cullen/Frost Bankers in the second quarter worth approximately $2,199,000. GAMMA Investing LLC lifted its stake in Cullen/Frost Bankers by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock valued at $76,000 after acquiring an additional 106 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of Cullen/Frost Bankers by 14.3% during the third quarter. Diversified Trust Co now owns 22,085 shares of the bank’s stock valued at $2,470,000 after purchasing an additional 2,755 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.