Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $104.00 at Citigroup

Cullen/Frost Bankers (NYSE:CFR) had its price objective reduced by Citigroup from $107.00 to $104.00 in a research report released on Monday morning, Benzinga reports. Citigroup currently has a sell rating on the bank’s stock.

Several other brokerages have also recently weighed in on CFR. Evercore ISI lowered their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating on the stock in a report on Tuesday, June 25th. Wedbush reduced their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a neutral rating on the stock in a research report on Tuesday, September 24th. Maxim Group boosted their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a buy rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their target price on Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a sector perform rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group cut their target price on Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating on the stock in a research report on Wednesday, July 3rd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $121.14.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $108.42 on Monday. Cullen/Frost Bankers has a 52 week low of $82.25 and a 52 week high of $123.17. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $6.97 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.36 and a beta of 1.00. The stock’s 50-day moving average price is $110.58 and its 200-day moving average price is $107.04.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The company had revenue of $528.81 million for the quarter, compared to analysts’ expectations of $506.83 million. During the same period in the previous year, the firm posted $2.47 EPS. As a group, equities analysts expect that Cullen/Frost Bankers will post 8.62 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.50%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s payout ratio is presently 44.92%.

Insider Buying and Selling

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the transaction, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the transaction, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the transaction, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several large investors have recently bought and sold shares of CFR. Champlain Investment Partners LLC boosted its stake in Cullen/Frost Bankers by 18.4% in the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after acquiring an additional 495,215 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in Cullen/Frost Bankers in the second quarter valued at $37,813,000. Strategic Financial Concepts LLC boosted its stake in Cullen/Frost Bankers by 7,109.7% in the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock valued at $255,000 after acquiring an additional 247,416 shares in the last quarter. Goldman Sachs Group Inc. raised 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 valued at $86,619,000 after buying an additional 244,197 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after buying an additional 161,580 shares during the last quarter. Institutional investors and hedge funds 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.