Cullen/Frost Bankers, Inc. (NYSE:CFR) Receives $125.43 Average Price Target from Analysts

Cullen/Frost Bankers, Inc. (NYSE:CFR) has been given an average recommendation of “Hold” by the fourteen research firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $127.07.

A number of research analysts have recently weighed in on the company. Evercore ISI lowered their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Stephens lifted their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Morgan Stanley reduced their price target on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. Compass Point boosted their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Truist Financial dropped their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th.

Insider Buying and Selling

In related news, CEO Phillip D. Green sold 14,358 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now owns 94,423 shares of the company’s stock, valued at $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the sale, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. This represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,864 shares of company stock valued at $2,977,033 over the last three months. 2.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds have recently made changes to their positions in the company. Covestor Ltd boosted its position in Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Cullen/Frost Bankers in the third quarter valued at approximately $29,000. Asset Dedication LLC boosted 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 worth $30,000 after acquiring an additional 105 shares in the last quarter. Brooklyn Investment Group bought a new stake in Cullen/Frost Bankers during the 3rd quarter worth approximately $44,000. Finally, Allworth Financial LP increased its holdings in Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $137.80 on Friday. The company has a 50-day moving average of $132.55 and a two-hundred day moving average of $115.73. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. Cullen/Frost Bankers has a one year low of $94.09 and a one year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same quarter last year, the business posted $2.38 EPS. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Cullen/Frost Bankers will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

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.