Brokerages Set Cullen/Frost Bankers, Inc. (NYSE:CFR) PT at $123.86

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) have been assigned an average rating of “Hold” from the fourteen analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $123.86.

A number of brokerages recently commented on CFR. Stephens lifted their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Morgan Stanley lowered their price target on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Evercore ISI dropped their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Compass Point lifted their target price on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Maxim Group increased their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $137.83 on Wednesday. The firm has a 50-day simple moving average of $122.10 and a 200-day simple moving average of $111.42. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98. Cullen/Frost Bankers has a 52 week low of $94.09 and a 52 week high of $144.89.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. Cullen/Frost Bankers’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.38 EPS. On average, equities analysts predict that Cullen/Frost Bankers will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is 47.15%.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently made changes to their positions in CFR. Keene & Associates Inc. raised its holdings in Cullen/Frost Bankers by 1.7% in the third quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock valued at $586,000 after acquiring an additional 89 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Cullen/Frost Bankers by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock valued at $150,000 after purchasing an additional 97 shares during the last quarter. Asset Dedication LLC raised its holdings in shares of Cullen/Frost Bankers by 63.3% in the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after purchasing an additional 105 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Cullen/Frost Bankers by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after purchasing an additional 106 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Cullen/Frost Bankers by 6.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock worth $237,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

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.