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

Cullen/Frost Bankers (NYSE:CFR) had its price target raised by Evercore ISI from $135.00 to $137.00 in a research note published on Tuesday,Benzinga reports. Evercore ISI currently has an in-line rating on the bank’s stock.

Several other brokerages have also recently weighed in on CFR. Raymond James Financial lowered their target price on Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, August 4th. Morgan Stanley boosted their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a research note on Monday. Barclays cut their target price on Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a research report on Thursday, September 25th. Finally, Cantor Fitzgerald began coverage on shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $137.31.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $125.81 on Tuesday. The company has a fifty day simple moving average of $127.62 and a 200-day simple moving average of $125.78. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 2.63 and a beta of 0.71. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers has a 52-week low of $100.31 and a 52-week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.11. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The firm had revenue of $567.83 million for the quarter, compared to analyst estimates of $552.04 million. During the same period in the previous year, the business posted $2.21 earnings per share. On average, equities analysts anticipate that Cullen/Frost Bankers will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 29th. Cullen/Frost Bankers’s payout ratio is 43.06%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Alpine Bank Wealth Management purchased a new stake in shares of Cullen/Frost Bankers in the 1st quarter valued at approximately $30,000. Hantz Financial Services Inc. boosted its position in shares of Cullen/Frost Bankers by 8,800.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 267 shares of the bank’s stock worth $34,000 after purchasing an additional 264 shares during the period. eCIO Inc. acquired a new stake in Cullen/Frost Bankers in the 1st quarter valued at approximately $36,000. Geneos Wealth Management Inc. raised its position in Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after purchasing an additional 106 shares during the period. Finally, UMB Bank n.a. lifted its stake in Cullen/Frost Bankers by 59.6% during the first quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock worth $49,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

About Cullen/Frost Bankers

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.