Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $120.00

Cullen/Frost Bankers (NYSE:CFR) had its target price boosted by Royal Bank of Canada from $119.00 to $120.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a sector perform rating on the bank’s stock.

Several other research firms have also recently weighed in on CFR. Evercore ISI lowered their price objective on 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. Jefferies Financial Group decreased their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating on the stock in a research report on Wednesday, July 3rd. Wedbush reaffirmed a neutral rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. JPMorgan Chase & Co. cut their price target on Cullen/Frost Bankers from $140.00 to $130.00 and set an overweight rating on the stock in a research note on Thursday, June 27th. Finally, Maxim Group lifted their price target on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a buy rating in a research note on Friday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $119.50.

Cullen/Frost Bankers Trading Down 1.5 %

NYSE:CFR opened at $117.95 on Friday. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $123.17. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $102.95 and a two-hundred day moving average price of $105.97. The company has a market cap of $7.55 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, beating the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same period in the prior year, the firm posted $2.47 earnings per share. As a group, analysts expect that Cullen/Frost Bankers will post 8.46 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.95 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date is Friday, August 30th. This represents a $3.80 annualized dividend and a dividend yield of 3.22%. Cullen/Frost Bankers’s payout ratio is currently 43.50%.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Cullen/Frost Bankers by 20.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 787,599 shares of the bank’s stock worth $85,451,000 after buying an additional 131,726 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Cullen/Frost Bankers by 4.5% during the 4th quarter. Westwood Holdings Group Inc. now owns 371,879 shares of the bank’s stock valued at $40,345,000 after purchasing an additional 15,981 shares during the period. Oak Harvest Investment Services bought a new position in Cullen/Frost Bankers in the 1st quarter worth about $2,972,000. Goldman Sachs Group Inc. increased its stake in Cullen/Frost Bankers by 44.1% in the 4th 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 during the last quarter. Finally, Natixis bought a new position in Cullen/Frost Bankers in the 1st quarter worth about $957,000. 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.