Morgan Stanley Cuts Cullen/Frost Bankers (NYSE:CFR) Price Target to $133.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective dropped by Morgan Stanley from $143.00 to $133.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Morgan Stanley’s price objective points to a potential downside of 3.46% from the stock’s previous close.

CFR has been the topic of a number of other reports. TD Cowen reiterated a “positive” rating on shares of Cullen/Frost Bankers in a research report on Monday, February 2nd. Loop Capital set a $160.00 target price on Cullen/Frost Bankers in a research report on Monday, February 2nd. Citigroup raised their target price on Cullen/Frost Bankers from $114.00 to $125.00 and gave the company a “sell” rating in a research note on Monday, February 2nd. Royal Bank Of Canada upped their price target on shares of Cullen/Frost Bankers from $144.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Finally, Cantor Fitzgerald boosted their target price on shares of Cullen/Frost Bankers from $141.00 to $152.00 and gave the company a “neutral” rating in a research note on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $141.83.

Cullen/Frost Bankers Stock Performance

Shares of NYSE:CFR traded up $2.44 on Tuesday, reaching $137.76. 133,350 shares of the company’s stock were exchanged, compared to its average volume of 561,246. The business’s 50-day moving average is $138.85 and its two-hundred day moving average is $131.18. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers has a fifty-two week low of $100.31 and a fifty-two week high of $148.97. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 4.91 and a beta of 0.63.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 EPS for the quarter, beating the consensus estimate of $2.47 by $0.09. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $578.05 million. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. During the same period in the previous year, the business posted $2.36 EPS. As a group, equities research analysts forecast that Cullen/Frost Bankers will post 8.85 EPS for the current year.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,000 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $137.07, for a total transaction of $137,070.00. Following the sale, the executive vice president directly owned 28,406 shares in the company, valued at approximately $3,893,610.42. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFR. Dimensional Fund Advisors LP increased its position in shares of Cullen/Frost Bankers by 9.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,293,964 shares of the bank’s stock valued at $163,862,000 after purchasing an additional 106,558 shares during the period. Geode Capital Management LLC grew its holdings in Cullen/Frost Bankers by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank’s stock worth $155,059,000 after acquiring an additional 10,246 shares during the period. Bank of America Corp DE raised its position in Cullen/Frost Bankers by 8.5% in the third quarter. Bank of America Corp DE now owns 1,129,673 shares of the bank’s stock worth $143,209,000 after acquiring an additional 88,080 shares in the last quarter. Northern Trust Corp lifted its holdings in Cullen/Frost Bankers by 2.3% in the 3rd quarter. Northern Trust Corp now owns 965,821 shares of the bank’s stock valued at $122,437,000 after acquiring an additional 21,793 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its position in shares of Cullen/Frost Bankers by 11.9% during the 3rd quarter. Impax Asset Management Group plc now owns 920,833 shares of the bank’s stock valued at $116,734,000 after purchasing an additional 97,955 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.