Stephens Forecasts Strong Price Appreciation for Cullen/Frost Bankers (NYSE:CFR) Stock

Cullen/Frost Bankers (NYSE:CFR) had its price objective raised by equities research analysts at Stephens from $125.00 to $136.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Stephens’ target price points to a potential upside of 8.22% from the company’s current price.

CFR has been the topic of a number of other research reports. Royal Bank of Canada lifted their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research report on Friday. Truist Financial lowered their price objective on 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. Maxim Group upped their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup decreased their target price on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a research report on Monday, September 30th. Finally, DA Davidson upped their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $123.31.

Cullen/Frost Bankers Price Performance

CFR stock traded down $1.68 during mid-day trading on Friday, reaching $125.67. 418,973 shares of the company’s stock were exchanged, compared to its average volume of 450,536. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The stock’s 50 day moving average is $115.33 and its 200 day moving average is $108.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers has a 12-month low of $90.94 and a 12-month high of $135.00.

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

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Trust Walden Corp acquired a new position in shares of Cullen/Frost Bankers during the third quarter worth approximately $107,166,000. Champlain Investment Partners LLC raised its holdings in Cullen/Frost Bankers by 18.4% during the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after purchasing an additional 495,215 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in Cullen/Frost Bankers during the second quarter worth approximately $37,813,000. Strategic Financial Concepts LLC raised its holdings in Cullen/Frost Bankers by 7,109.7% during the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock worth $255,000 after purchasing an additional 247,416 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Cullen/Frost Bankers by 18.8% during the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after purchasing an additional 161,580 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

About Cullen/Frost Bankers

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.