Cullen/Frost Bankers (NYSE:CFR) Price Target Lowered to $123.00 at Truist Financial

Cullen/Frost Bankers (NYSE:CFR) had its target price cut by Truist Financial from $126.00 to $123.00 in a research note released on Friday, Benzinga reports. They currently have a hold rating on the bank’s stock.

Several other research firms have also commented on CFR. Maxim Group boosted their price objective on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a buy rating in a research note on Friday, July 26th. DA Davidson raised their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a buy rating in a research report on Friday, July 26th. Royal Bank of Canada upped their target price on Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a sector perform rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lowered their price target on Cullen/Frost Bankers from $140.00 to $130.00 and set an overweight rating for the company in a report on Thursday, June 27th. Finally, Stephens upped their price objective on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an equal weight rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Cullen/Frost Bankers has an average rating of Hold and a consensus price target of $119.71.

Cullen/Frost Bankers Trading Down 1.5 %

Shares of NYSE CFR opened at $112.54 on Friday. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $123.17. The firm has a market cap of $7.23 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00. The business has a fifty day simple moving average of $110.88 and a two-hundred day simple moving average of $106.87. 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 released its quarterly earnings data 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 return on equity of 17.43% and a net margin of 19.51%. The firm had revenue of $528.81 million during the quarter, compared to the consensus estimate of $506.83 million. During the same period in the previous year, the company posted $2.47 earnings per share. Analysts expect that Cullen/Frost Bankers will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.95 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a yield of 3.38%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio is presently 44.92%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the transaction, the executive vice president now directly owns 18,753 shares in the company, valued at approximately $2,243,796.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of 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. Company insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth $2,199,000. Point72 Asset Management L.P. acquired a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth about $13,574,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cullen/Frost Bankers by 2.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank’s stock valued at $600,000 after acquiring an additional 156 shares during the last quarter. Creative Planning raised its position in shares of Cullen/Frost Bankers by 7.4% during the 2nd 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. Finally, Algert Global LLC lifted its stake in Cullen/Frost Bankers by 19.7% during the second quarter. Algert Global LLC now owns 37,301 shares of the bank’s stock worth $3,791,000 after purchasing an additional 6,143 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

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.