Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $102.00 at Truist Financial

Cullen/Frost Bankers (NYSE:CFR) had its price target lowered by Truist Financial from $115.00 to $102.00 in a report issued on Monday, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Several other brokerages have also weighed in on CFR. Evercore ISI reduced their price objective on Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. reduced their price objective on Cullen/Frost Bankers from $140.00 to $130.00 and set an overweight rating for the company in a report on Thursday, June 27th. Wedbush reissued a neutral rating and set a $115.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, April 26th. Jefferies Financial Group cut their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating for the company in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada reaffirmed a sector perform rating and issued a $118.00 price target on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $113.77.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $100.04 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.22 and a beta of 1.03. The stock has a 50 day moving average of $101.36 and a 200 day moving average of $105.52. Cullen/Frost Bankers has a 12 month low of $82.25 and a 12 month high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. The company had revenue of $522.74 million during the quarter, compared to the consensus estimate of $510.09 million. During the same period last year, the business posted $2.70 earnings per share. As a group, sell-side analysts forecast that Cullen/Frost Bankers will post 8.42 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.92 per share. The ex-dividend date was Thursday, May 30th. This represents a $3.68 dividend on an annualized basis and a yield of 3.68%. Cullen/Frost Bankers’s payout ratio is 43.50%.

Institutional Investors Weigh In On Cullen/Frost Bankers

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Cullen/Frost Bankers by 20.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 787,599 shares of the bank’s stock valued at $85,451,000 after purchasing an additional 131,726 shares in the last quarter. Anchor Investment Management LLC purchased a new position in shares of Cullen/Frost Bankers in the fourth quarter worth about $1,069,000. Westwood Holdings Group Inc. increased its holdings in shares of Cullen/Frost Bankers by 4.5% in the fourth quarter. Westwood Holdings Group Inc. now owns 371,879 shares of the bank’s stock worth $40,345,000 after buying an additional 15,981 shares during the period. Oak Harvest Investment Services purchased a new position in shares of Cullen/Frost Bankers in the first quarter worth about $2,972,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after buying an additional 244,197 shares during the period. 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.