Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $145.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective boosted by Compass Point from $122.00 to $145.00 in a report issued on Tuesday,Benzinga reports. Compass Point currently has a neutral rating on the bank’s stock.

Several other research analysts have also recently weighed in on CFR. Maxim Group upped 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, November 1st. Royal Bank of Canada upped their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Truist Financial reduced their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a report on Friday, September 20th. Wedbush reduced their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Finally, Citigroup increased their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $127.07.

Cullen/Frost Bankers Stock Down 0.6 %

NYSE:CFR opened at $137.55 on Tuesday. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.65 and a beta of 0.99. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $132.06 and a two-hundred day moving average price of $115.38. Cullen/Frost Bankers has a 1 year low of $94.09 and a 1 year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $518.04 million for the quarter, compared to analyst estimates 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 previous year, the firm posted $2.38 earnings per share. As a group, equities analysts expect that Cullen/Frost Bankers will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared 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. This represents a $3.80 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 47.15%.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, CEO Phillip D. Green sold 14,358 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the transaction, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the transaction, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,864 shares of company stock valued at $2,977,033. 2.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several institutional investors and hedge funds have recently modified their holdings of CFR. Covestor Ltd lifted its position in Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after purchasing an additional 141 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Cullen/Frost Bankers during the third quarter worth about $29,000. Asset Dedication LLC raised its stake in Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after acquiring an additional 105 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at approximately $44,000. Finally, Allworth Financial LP grew its holdings in shares of Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares during 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.