Royal Bank of Canada Boosts Cullen/Frost Bankers (NYSE:CFR) Price Target to $119.00

Cullen/Frost Bankers (NYSE:CFR) had its target price lifted by Royal Bank of Canada from $118.00 to $119.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a sector perform rating on the bank’s stock.

CFR has been the topic of a number of other reports. Jefferies Financial Group cut their price target on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating on the stock in a research note on Wednesday, July 3rd. StockNews.com upgraded shares of Cullen/Frost Bankers to a sell rating in a research note on Saturday, May 4th. Truist Financial cut their target price on shares of Cullen/Frost Bankers from $115.00 to $102.00 and set a hold rating on the stock in a research note on Monday. Evercore ISI cut their target price on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating on the stock in a research note on Tuesday, June 25th. Finally, Wedbush restated a neutral rating and set a $115.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $113.77.

Cullen/Frost Bankers Stock Up 2.0 %

Shares of CFR opened at $102.06 on Tuesday. The firm has a market cap of $6.56 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03. Cullen/Frost Bankers has a 12-month low of $82.25 and a 12-month high of $120.31. The company’s 50-day moving average price is $101.27 and its 200 day moving average price is $105.50. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06.

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

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Thursday, May 30th. Cullen/Frost Bankers’s payout ratio is currently 43.50%.

Institutional Investors Weigh In On Cullen/Frost Bankers

Large investors have recently modified their holdings of the stock. ICA Group Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth approximately $33,000. Arvest Investments Inc. purchased a new position in Cullen/Frost Bankers in the fourth quarter worth $35,000. CWM LLC raised its position in Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after acquiring an additional 106 shares in the last quarter. GAMMA Investing LLC purchased a new position in Cullen/Frost Bankers in the fourth quarter worth $43,000. Finally, Whittier Trust Co. increased its position in shares of Cullen/Frost Bankers by 90.7% in the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after buying an additional 186 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.