Cullen/Frost Bankers (NYSE:CFR) Stock Gets Price Target Cut from Royal Bank Of Canada

Cullen/Frost Bankers (NYSE:CFR) had its price objective trimmed by Royal Bank Of Canada from $176.00 to $175.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the bank’s stock.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald lifted their target price on shares of Cullen/Frost Bankers from $158.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, August 19th. Stephens increased their price target on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Jefferies Financial Group raised shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and increased their price target for the stock from $135.00 to $160.00 in a report on Monday, July 6th. Morgan Stanley raised their price objective on shares of Cullen/Frost Bankers from $200.00 to $201.00 and gave the company an “overweight” rating in a research report on Monday, September 28th. Finally, Citigroup lifted their price objective on Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $170.09.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $150.25 on Friday. The firm’s fifty day moving average price is $161.11 and its 200 day moving average price is $151.43. Cullen/Frost Bankers has a 1-year low of $119.00 and a 1-year high of $170.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.75 and a beta of 0.56.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.15. The company had revenue of $576.01 million for the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same period in the previous year, the company posted $2.39 EPS. On average, sell-side analysts expect that Cullen/Frost Bankers will post 10.94 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a $1.03 dividend. The ex-dividend date was Monday, August 31st. This represents a $4.12 annualized dividend and a yield of 2.7%. Cullen/Frost Bankers’s dividend payout ratio is presently 38.94%.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently bought and sold shares of CFR. BlackRock Inc. acquired a new position in Cullen/Frost Bankers during the second quarter worth about $1,133,453,000. Jupiter Topco LLC purchased a new position in Cullen/Frost Bankers in the second quarter valued at about $94,297,000. William Blair Investment Management LLC purchased a new position in Cullen/Frost Bankers in the second quarter valued at about $89,425,000. The Manufacturers Life Insurance Company purchased a new position in Cullen/Frost Bankers in the second quarter valued at about $80,127,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Cullen/Frost Bankers during the 2nd quarter valued at approximately $79,846,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas, and the parent company of Frost Bank. Through Frost, the company provides banking, investment, and financial services to individuals, businesses, and institutions.

Frost Bank offers personal and business deposit accounts, consumer and commercial lending, treasury management, payment services, and other banking products. Its wealth management operations provide trust, investment management, and financial planning services, while the company also offers services related to insurance and investment banking.

Founded in 1868 by Thomas Claiborne Frost, the company has a long history of serving Texas markets.