Morgan Stanley Issues Positive Forecast for Cullen/Frost Bankers (NYSE:CFR) Stock Price

Cullen/Frost Bankers (NYSE:CFR) had its target price upped by Morgan Stanley from $200.00 to $201.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the bank’s stock.

Other research analysts have also issued reports about the company. Stephens lifted their price objective on Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Jefferies Financial Group raised Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and raised their target price for the stock from $135.00 to $160.00 in a research note on Monday, July 6th. Barclays raised their target price on Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Cantor Fitzgerald lifted their target price on Cullen/Frost Bankers from $158.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $166.75.

Cullen/Frost Bankers Stock Down 0.6%

Shares of CFR opened at $156.41 on Monday. The company has a market capitalization of $9.72 billion, a PE ratio of 14.78, a PEG ratio of 2.40 and a beta of 0.52. The stock’s 50-day moving average price is $163.18 and its two-hundred day moving average price is $150.10. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers has a 12 month low of $119.00 and a 12 month high of $170.80.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.15. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. The company had revenue of $576.01 million for the quarter, compared to analyst estimates of $589.72 million. During the same period in the prior year, the firm posted $2.39 EPS. On average, analysts anticipate that Cullen/Frost Bankers will post 10.93 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $1.03 dividend. The ex-dividend date was Monday, August 31st. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 38.94%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CFR. State Street Corp grew its stake in Cullen/Frost Bankers by 3.8% in the second quarter. State Street Corp now owns 3,218,249 shares of the bank’s stock valued at $497,292,000 after acquiring an additional 118,313 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Cullen/Frost Bankers by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 518,552 shares of the bank’s stock worth $80,127,000 after purchasing an additional 1,755 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $324,000. Engineers Gate Manager LP bought a new position in shares of Cullen/Frost Bankers in the 2nd quarter worth $607,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Cullen/Frost Bankers by 5.2% in the 2nd quarter. NewEdge Advisors LLC now owns 4,190 shares of the bank’s stock worth $647,000 after purchasing an additional 207 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers commercial and consumer banking products, including deposit accounts, loans, treasury management, payment services, mortgage lending and online and mobile banking. Through its wealth management operations, the company also provides trust, investment management, brokerage and retirement services.