Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $113.00 at Citigroup

Cullen/Frost Bankers (NYSE:CFR) had its target price raised by Citigroup from $104.00 to $113.00 in a report published on Monday morning, Benzinga reports. Citigroup currently has a sell rating on the bank’s stock.

Other analysts also recently issued reports about the company. Truist Financial cut their target price on 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. Morgan Stanley reduced their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, September 30th. Stephens upped their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday. Maxim Group raised their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday. Finally, 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 report on Friday, July 26th. Four 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. According to data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus price target of $124.00.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $124.91 on Monday. The company has a market capitalization of $8.00 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers has a one year low of $91.24 and a one year high of $135.00. The company’s 50-day moving average is $115.88 and its 200 day moving average is $109.13.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. The firm had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 earnings per share. Sell-side analysts expect that Cullen/Frost Bankers will post 8.61 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is 47.15%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Cullen/Frost Bankers by 40.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank’s stock valued at $155,000 after purchasing an additional 395 shares during the period. Janney Montgomery Scott LLC raised its holdings in Cullen/Frost Bankers by 35.2% during the first quarter. Janney Montgomery Scott LLC now owns 16,573 shares of the bank’s stock valued at $1,866,000 after acquiring an additional 4,317 shares during the period. Capstone Investment Advisors LLC raised its holdings in Cullen/Frost Bankers by 68.8% during the first quarter. Capstone Investment Advisors LLC now owns 3,993 shares of the bank’s stock valued at $449,000 after acquiring an additional 1,628 shares during the period. Whittier Trust Co. lifted 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 acquiring an additional 186 shares in the last quarter. Finally, Avidian Wealth Solutions LLC bought a new position in shares of Cullen/Frost Bankers in the first quarter worth about $254,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.