Cullen/Frost Bankers (NYSE:CFR) PT Raised to $126.00 at Truist Financial

Cullen/Frost Bankers (NYSE:CFR) had its price target raised by Truist Financial from $102.00 to $126.00 in a report published on Monday, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Several other equities analysts have also weighed in on CFR. DA Davidson lifted their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a buy rating in a report on Friday, July 26th. 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 report on Tuesday, June 25th. JPMorgan Chase & Co. reduced their target price on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an overweight rating on the stock in a report on Thursday, June 27th. Stephens boosted their price objective on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an equal weight rating in a report on Friday, July 26th. Finally, Wedbush boosted their price objective on shares of Cullen/Frost Bankers from $106.00 to $124.00 and gave the stock a neutral rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $119.50.

Cullen/Frost Bankers Stock Down 3.8 %

Shares of CFR opened at $112.65 on Monday. The firm has a market cap of $7.24 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.44 and a beta of 1.03. The company’s fifty day moving average is $103.50 and its two-hundred day moving average is $106.15. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week 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.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter last year, the business posted $2.47 EPS. Analysts forecast that Cullen/Frost Bankers will post 8.53 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio is currently 44.92%.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the sale, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Cullen/Frost Bankers by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock valued at $695,729,000 after purchasing an additional 19,755 shares during the period. Champlain Investment Partners LLC boosted its stake in Cullen/Frost Bankers by 18.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after purchasing an additional 495,215 shares during the period. Janus Henderson Group PLC boosted its stake in Cullen/Frost Bankers by 18.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after purchasing an additional 161,580 shares during the period. Principal Financial Group Inc. boosted its stake in Cullen/Frost Bankers by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock valued at $92,432,000 after purchasing an additional 12,897 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of 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 period. 86.90% of the stock is 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.