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

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

Several other equities analysts have also recently weighed in on CFR. Morgan Stanley lowered their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research note on Monday, September 30th. Truist Financial dropped their price objective on shares of 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. Evercore ISI decreased their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, October 2nd. Stephens upped their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, Wedbush cut their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Four 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 company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and a consensus price target of $123.86.

Cullen/Frost Bankers Stock Up 12.6 %

Shares of NYSE:CFR opened at $143.66 on Monday. The firm has a 50 day simple moving average of $116.84 and a 200 day simple moving average of $109.48. Cullen/Frost Bankers has a 52 week low of $91.24 and a 52 week high of $144.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $9.21 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The company had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same quarter in the prior year, the company earned $2.38 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts expect that Cullen/Frost Bankers will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.65%. Cullen/Frost Bankers’s payout ratio is currently 47.15%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of institutional investors have recently made changes to their positions in CFR. Covestor Ltd grew its holdings in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares during the last quarter. Asset Dedication LLC grew its stake in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after acquiring an additional 105 shares during the last quarter. Whittier Trust Co. grew its stake 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 worth $44,000 after acquiring an additional 186 shares during the last quarter. Allworth Financial LP increased its position in Cullen/Frost Bankers by 116.6% during the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after acquiring an additional 239 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Cullen/Frost Bankers during the 3rd quarter valued at $52,000. 86.90% of the stock is currently owned by institutional investors.

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.