Cullen/Frost Bankers (NYSE:CFR) Price Target Lowered to $130.00 at JPMorgan Chase & Co.

Cullen/Frost Bankers (NYSE:CFR) had its target price lowered by JPMorgan Chase & Co. from $140.00 to $130.00 in a report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

CFR has been the subject of several other research reports. DA Davidson reiterated a buy rating and issued a $126.00 price objective on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Jefferies Financial Group upped their price target on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a hold rating in a research report on Monday, April 8th. Truist Financial lowered their price objective on shares of Cullen/Frost Bankers from $121.00 to $115.00 and set a hold rating for the company in a research report on Monday, April 29th. Evercore ISI reduced their target price on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating on the stock in a research report on Tuesday, June 25th. Finally, Wedbush restated a neutral rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $115.69.

Cullen/Frost Bankers Stock Up 2.3 %

CFR opened at $101.63 on Thursday. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50-day simple moving average is $103.05 and its 200-day simple moving average is $105.99. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.02. The firm had revenue of $522.74 million for the quarter, compared to analysts’ expectations of $510.09 million. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same period in the prior year, the firm earned $2.70 earnings per share. Equities research analysts anticipate that Cullen/Frost Bankers will post 8.4 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.62%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.50%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CFR. Westwood Holdings Group Inc. raised its holdings in Cullen/Frost Bankers by 16.4% in the first quarter. Westwood Holdings Group Inc. now owns 432,866 shares of the bank’s stock worth $48,728,000 after purchasing an additional 60,987 shares during the period. Cetera Advisors LLC lifted its holdings in Cullen/Frost Bankers by 24.4% during 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. Atria Investments Inc grew its stake in Cullen/Frost Bankers by 17.6% in the first quarter. Atria Investments Inc now owns 16,719 shares of the bank’s stock valued at $1,882,000 after acquiring an additional 2,504 shares during the period. WealthPlan Investment Management LLC increased its holdings in shares of Cullen/Frost Bankers by 8.0% in the first quarter. WealthPlan Investment Management LLC now owns 58,519 shares of the bank’s stock worth $6,588,000 after acquiring an additional 4,341 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Cullen/Frost Bankers by 125.2% during the first quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock worth $1,338,000 after purchasing an additional 6,610 shares during the period. 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.