Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $143.00

Cullen/Frost Bankers (NYSE:CFR) had its target price boosted by Morgan Stanley from $136.00 to $143.00 in a research report released on Monday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the bank’s stock.

A number of other research firms also recently commented on CFR. TD Cowen reiterated a “positive” rating on shares of Cullen/Frost Bankers in a research report on Monday, February 2nd. DA Davidson lifted their price objective on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Loop Capital set a $160.00 price objective on Cullen/Frost Bankers in a report on Monday, February 2nd. Royal Bank Of Canada raised their target price on shares of Cullen/Frost Bankers from $144.00 to $150.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, Citigroup boosted their price target on shares of Cullen/Frost Bankers from $114.00 to $125.00 and gave the stock a “sell” rating in a research report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $142.67.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $139.73 on Monday. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 5.16 and a beta of 0.63. The firm has a fifty day moving average price of $138.66 and a 200 day moving average price of $130.55. Cullen/Frost Bankers has a fifty-two week low of $100.31 and a fifty-two week high of $148.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.67 and a current ratio of 0.67.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.09. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. The company had revenue of $562.58 million for the quarter, compared to the consensus estimate of $578.05 million. During the same period in the previous year, the firm posted $2.36 EPS. As a group, sell-side analysts expect that Cullen/Frost Bankers will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, February 27th. Cullen/Frost Bankers’s payout ratio is presently 40.32%.

Insiders Place Their Bets

In other news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total value of $88,900.00. Following the sale, the executive vice president owned 3,795 shares of the company’s stock, valued at approximately $481,965. This represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bobby Berman sold 1,000 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $137.07, for a total transaction of $137,070.00. Following the completion of the sale, the executive vice president owned 28,406 shares of the company’s stock, valued at $3,893,610.42. This trade represents a 3.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,700 shares of company stock worth $225,970 in the last quarter. Company insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Diversified Trust Co. raised its holdings in shares of Cullen/Frost Bankers by 0.5% in the fourth quarter. Diversified Trust Co. now owns 13,868 shares of the bank’s stock worth $1,756,000 after buying an additional 74 shares during the period. AlphaQuest LLC grew its position in Cullen/Frost Bankers by 8.0% in the 2nd quarter. AlphaQuest LLC now owns 1,082 shares of the bank’s stock valued at $139,000 after acquiring an additional 80 shares during the last quarter. Matrix Trust Co increased its stake in Cullen/Frost Bankers by 40.4% in the fourth quarter. Matrix Trust Co now owns 320 shares of the bank’s stock worth $41,000 after purchasing an additional 92 shares during the period. Private Advisor Group LLC lifted its position in shares of Cullen/Frost Bankers by 2.9% during the third quarter. Private Advisor Group LLC now owns 3,283 shares of the bank’s stock worth $416,000 after purchasing an additional 94 shares during the last quarter. Finally, Cardinal Capital Management boosted its stake in shares of Cullen/Frost Bankers by 0.5% during the fourth quarter. Cardinal Capital Management now owns 18,134 shares of the bank’s stock valued at $2,296,000 after purchasing an additional 98 shares during the period. 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.