Maxim Group Issues Positive Forecast for Cullen/Frost Bankers (NYSE:CFR) Stock Price

Cullen/Frost Bankers (NYSE:CFR) had its price objective lifted by Maxim Group from $138.00 to $149.00 in a research report issued to clients and investors on Friday, Briefing.com reports. The firm currently has a “buy” rating on the bank’s stock. Maxim Group’s target price would suggest a potential upside of 17.05% from the company’s current price.

Several other analysts also recently issued reports on CFR. Citigroup cut their target price on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a research note on Monday, September 30th. Stephens increased their price objective on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. DA Davidson boosted their price objective on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Truist Financial cut their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Finally, Morgan Stanley decreased their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.15.

Cullen/Frost Bankers Price Performance

NYSE CFR opened at $127.30 on Friday. The stock has a market capitalization of $8.15 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The business’s fifty day moving average is $114.96 and its two-hundred day moving average is $108.74. Cullen/Frost Bankers has a 1 year low of $88.86 and a 1 year high of $135.00.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.08. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The business had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same quarter last year, the company posted $2.38 EPS. Cullen/Frost Bankers’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts forecast that Cullen/Frost Bankers will post 8.57 earnings per share for the current fiscal year.

Institutional Trading of Cullen/Frost Bankers

Several hedge funds have recently added to or reduced their stakes in CFR. Keene & Associates Inc. boosted its position in shares of 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 during the period. Allspring Global Investments Holdings LLC grew its position in 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 worth $150,000 after purchasing an additional 97 shares during the last quarter. First National Bank of Hutchinson increased its holdings in shares of Cullen/Frost Bankers by 1.6% during the 1st quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock worth $713,000 after purchasing an additional 102 shares during the period. Asset Dedication LLC raised its position in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after buying an additional 105 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Cullen/Frost Bankers by 18.5% in the third quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock valued at $76,000 after buying an additional 106 shares during the period. 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.