Brokerages Set Cullen/Frost Bankers, Inc. (NYSE:CFR) PT at $127.07

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) have been assigned a consensus rating of “Hold” from the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $127.07.

A number of brokerages recently weighed in on CFR. Evercore ISI cut their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price target on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Maxim Group raised their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wedbush decreased their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada lifted their price target on Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st.

Insider Buying and Selling

In other news, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the sale, the chief executive officer now directly owns 94,423 shares of the company’s stock, valued at $13,026,597.08. This represents 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 through this link. Also, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock worth $2,977,033 in the last quarter. 2.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CFR. Keene & Associates Inc. raised its position in shares of Cullen/Frost Bankers by 1.7% during the third quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after acquiring an additional 89 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Cullen/Frost Bankers by 7.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after purchasing an additional 97 shares during the last quarter. Asset Dedication LLC lifted its position in Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after purchasing an additional 105 shares during the period. GAMMA Investing LLC boosted its stake in shares of Cullen/Frost Bankers by 18.5% in the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock valued at $76,000 after purchasing an additional 106 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of 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 purchasing an additional 141 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Up 1.2 %

CFR opened at $134.40 on Thursday. The company has a market capitalization of $8.62 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. Cullen/Frost Bankers has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. The business has a 50-day moving average of $136.66 and a 200-day moving average of $119.49.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $517.25 million. During the same period last year, the company earned $2.38 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Cullen/Frost Bankers will post 8.75 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.95 per share. The ex-dividend date was Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.83%. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

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.