Stephens Forecasts Strong Price Appreciation for Cullen/Frost Bankers (NYSE:CFR) Stock

Cullen/Frost Bankers (NYSE:CFR) had its target price hoisted by Stephens from $125.00 to $136.00 in a report released on Friday, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

A number of other brokerages also recently weighed in on CFR. Wedbush cut their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Maxim Group boosted their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday. Truist Financial decreased their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a report on Friday, September 20th. DA Davidson lifted their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Citigroup lowered their price target on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $123.31.

Cullen/Frost Bankers Stock Down 1.1 %

CFR stock traded down $1.37 during trading hours on Friday, hitting $125.98. The company’s stock had a trading volume of 637,622 shares, compared to its average volume of 536,240. The stock has a 50 day moving average price of $115.61 and a two-hundred day moving average price of $109.00. Cullen/Frost Bankers has a 12 month low of $90.94 and a 12 month high of $135.00. The company has a market capitalization of $8.07 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.56 and a beta of 0.98. 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 issued its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.08. The firm had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a net margin of 23.98% and a return on equity of 16.34%. Cullen/Frost Bankers’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.38 earnings per share. On average, equities research analysts expect that Cullen/Frost Bankers will post 8.57 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 3.02%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 47.15%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CFR. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cullen/Frost Bankers by 40.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank’s stock valued at $155,000 after acquiring an additional 395 shares during the period. State of Michigan Retirement System grew its stake in Cullen/Frost Bankers by 2.6% during the first quarter. State of Michigan Retirement System now owns 15,764 shares of the bank’s stock worth $1,775,000 after buying an additional 400 shares during the last quarter. Norden Group LLC acquired a new position in shares of Cullen/Frost Bankers in the 1st quarter worth approximately $1,062,000. Janney Montgomery Scott LLC grew its position in Cullen/Frost Bankers by 35.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,573 shares of the bank’s stock worth $1,866,000 after acquiring an additional 4,317 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its position in Cullen/Frost Bankers by 68.8% in the 1st quarter. Capstone Investment Advisors LLC now owns 3,993 shares of the bank’s stock valued at $449,000 after purchasing an additional 1,628 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.