Morgan Stanley Increases Cullen/Frost Bankers (NYSE:CFR) Price Target to $136.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective hoisted by Morgan Stanley from $125.00 to $136.00 in a research report report published on Monday,Benzinga reports. They currently have an underweight rating on the bank’s stock.

CFR has been the topic of a number of other research reports. Cantor Fitzgerald initiated coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, September 10th. They set a “neutral” rating and a $138.00 target price on the stock. Barclays decreased their price target on shares of 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. Raymond James Financial cut their price objective on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, August 4th. Finally, TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average price target of $137.31.

Cullen/Frost Bankers Stock Performance

CFR stock opened at $125.64 on Monday. The firm has a market cap of $8.08 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 2.66 and a beta of 0.71. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $127.81 and a 200-day moving average price of $125.77. Cullen/Frost Bankers has a 1-year low of $100.31 and a 1-year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last issued its 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 return on equity of 15.46% and a net margin of 21.20%.The business had revenue of $567.83 million during the quarter, compared to the consensus estimate of $552.04 million. During the same period in the previous year, the company posted $2.21 earnings per share. As a group, equities research analysts expect that Cullen/Frost Bankers will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, August 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 43.06%.

Hedge Funds Weigh In On Cullen/Frost Bankers

Hedge funds have recently added to or reduced their stakes in the stock. Bayforest Capital Ltd purchased a new stake in shares of Cullen/Frost Bankers in the first quarter worth approximately $241,000. State of Alaska Department of Revenue boosted its position in shares of Cullen/Frost Bankers by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank’s stock valued at $942,000 after buying an additional 210 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Cullen/Frost Bankers by 55.9% during the first quarter. Victory Capital Management Inc. now owns 18,084 shares of the bank’s stock worth $2,264,000 after buying an additional 6,484 shares in the last quarter. Norden Group LLC purchased a new stake in Cullen/Frost Bankers in the 1st quarter valued at $214,000. Finally, UMB Bank n.a. lifted its stake in Cullen/Frost Bankers by 59.6% during the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock valued at $49,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds 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.