Citigroup Lowers Cullen/Frost Bankers (NYSE:CFR) Price Target to $104.00

Cullen/Frost Bankers (NYSE:CFR) had its price target decreased by Citigroup from $107.00 to $104.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “sell” rating on the bank’s stock. Citigroup’s price target points to a potential downside of 3.66% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Stephens upped their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Maxim Group upped their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Evercore ISI lowered their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a report on Tuesday, June 25th. Finally, Jefferies Financial Group decreased their price objective on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $120.07.

Cullen/Frost Bankers Price Performance

CFR opened at $107.95 on Monday. The business has a fifty day moving average of $110.73 and a 200 day moving average of $107.03. 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 cap of $6.94 billion, a P/E ratio of 12.76, a PEG ratio of 1.36 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share 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 business had revenue of $528.81 million during the quarter, compared to analysts’ expectations of $506.83 million. During the same period in the prior year, the business earned $2.47 EPS. As a group, sell-side analysts anticipate that Cullen/Frost Bankers will post 8.62 EPS for the current year.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction dated 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 directly owns 1,598 shares in the company, valued at $190,481.60. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Cullen/Frost Bankers by 7.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after buying an additional 97 shares in the last quarter. First National Bank of Hutchinson raised its position in Cullen/Frost Bankers by 1.6% during the first quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock worth $713,000 after acquiring an additional 102 shares during the period. CWM LLC raised its position in Cullen/Frost Bankers by 46.5% during the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after acquiring an additional 106 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Cullen/Frost Bankers by 6.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock worth $237,000 after acquiring an additional 137 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in Cullen/Frost Bankers by 18.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,007 shares of the bank’s stock worth $114,000 after acquiring an additional 155 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

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.