Cullen/Frost Bankers (NYSE:CFR) had its price target increased by Barclays from $106.00 to $110.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have an equal weight rating on the bank’s stock.

CFR has been the subject of a number of other reports. Zacks Investment Research downgraded Cullen/Frost Bankers from a hold rating to a sell rating in a research note on Wednesday, September 13th. Royal Bank of Canada restated a hold rating and issued a $100.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, October 27th. SunTrust Banks restated a buy rating and issued a $116.00 target price on shares of Cullen/Frost Bankers in a research note on Wednesday, November 29th. ValuEngine upgraded Cullen/Frost Bankers from a hold rating to a buy rating in a research note on Friday, September 22nd. Finally, Morgan Stanley lifted their target price on Cullen/Frost Bankers from $96.00 to $107.00 and gave the company an equal weight rating in a research note on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. Cullen/Frost Bankers currently has a consensus rating of Hold and an average price target of $102.04.

Cullen/Frost Bankers (CFR) opened at $95.72 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.08. Cullen/Frost Bankers has a 52 week low of $81.09 and a 52 week high of $103.37. The company has a market capitalization of $6,050.00, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 1.74 and a beta of 1.33.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 26th. The bank reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.10. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. The company had revenue of $300.83 million during the quarter, compared to the consensus estimate of $329.62 million. During the same period in the previous year, the firm posted $1.24 earnings per share. equities research analysts predict that Cullen/Frost Bankers will post 5.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $2.28 annualized dividend and a dividend yield of 2.38%. Cullen/Frost Bankers’s dividend payout ratio is presently 43.68%.

Cullen/Frost Bankers declared that its Board of Directors has initiated a stock buyback program on Thursday, October 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the bank to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

In other news, insider Bobby Berman sold 41,760 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $100.53, for a total transaction of $4,198,132.80. Following the completion of the transaction, the insider now directly owns 38,596 shares in the company, valued at $3,880,055.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jerry Salinas sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $99.65, for a total value of $1,195,800.00. Following the transaction, the chief financial officer now owns 24,184 shares of the company’s stock, valued at $2,409,935.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,760 shares of company stock valued at $6,058,863. Insiders own 5.15% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CFR. Parallax Volatility Advisers L.P. lifted its position in Cullen/Frost Bankers by 124.1% in the second quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock worth $102,000 after purchasing an additional 602 shares during the period. Tower Research Capital LLC TRC acquired a new stake in Cullen/Frost Bankers in the second quarter worth approximately $114,000. Westwood Holdings Group Inc. acquired a new stake in Cullen/Frost Bankers in the second quarter worth approximately $131,000. Fiduciary Trust Co. acquired a new stake in Cullen/Frost Bankers in the second quarter worth approximately $136,000. Finally, Meeder Asset Management Inc. lifted its position in Cullen/Frost Bankers by 50.6% in the third quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock worth $150,000 after purchasing an additional 531 shares during the period. Institutional investors and hedge funds own 80.97% of the company’s stock.

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About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.

Analyst Recommendations for Cullen/Frost Bankers (NYSE:CFR)

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