Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $115.00

Cullen/Frost Bankers (NYSE:CFR) had its target price reduced by Truist Financial from $121.00 to $115.00 in a report released on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Other equities analysts also recently issued reports about the stock. UBS Group lifted their price objective on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a neutral rating in a report on Monday, January 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a market perform rating for the company in a research report on Friday, January 26th. Evercore ISI increased their price objective on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the company an underperform rating in a research note on Thursday, March 28th. Wedbush restated a neutral rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. increased their price target on Cullen/Frost Bankers from $135.00 to $140.00 and gave the company an overweight rating in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $117.46.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $105.35 on Monday. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.32 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $120.31. The firm’s 50-day simple moving average is $108.99 and its 200 day simple moving average is $104.19.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. During the same period in the prior year, the firm earned $2.70 earnings per share. As a group, research analysts anticipate that Cullen/Frost Bankers will post 8.42 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 3.49%. Cullen/Frost Bankers’s payout ratio is 43.50%.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Cullen/Frost Bankers

Institutional investors and hedge funds have recently bought and sold shares of the company. ICA Group Wealth Management LLC purchased a new position in shares of Cullen/Frost Bankers during the 4th quarter valued at $33,000. NBC Securities Inc. purchased a new position in Cullen/Frost Bankers during the third quarter worth about $27,000. Arvest Investments Inc. purchased a new position in Cullen/Frost Bankers during the fourth quarter worth about $35,000. CWM LLC increased its stake in Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after acquiring an additional 106 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Cullen/Frost Bankers in the 4th quarter valued at about $43,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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.