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

Cullen/Frost Bankers (NYSE:CFR) had its price target lifted by investment analysts at Citigroup from $104.00 to $113.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “sell” rating on the bank’s stock. Citigroup’s target price would indicate a potential downside of 10.08% from the company’s current price.

Other research analysts have also issued research reports about the company. Morgan Stanley cut their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, September 30th. Maxim Group increased their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada increased 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 research report on Friday. Truist Financial reduced their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Finally, DA Davidson increased their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and an average price target of $124.00.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR traded down $0.31 during midday trading on Monday, hitting $125.67. 188,915 shares of the company’s stock were exchanged, compared to its average volume of 450,334. Cullen/Frost Bankers has a 12-month low of $91.24 and a 12-month high of $135.00. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.56 and a beta of 0.98. The business’s fifty day moving average price is $115.61 and its two-hundred day moving average price is $109.02.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 16.34% and a net margin of 23.98%. 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 previous year, the firm earned $2.38 earnings per share. Cullen/Frost Bankers’s revenue was up 5.4% on a year-over-year basis. As a group, research analysts forecast that Cullen/Frost Bankers will post 8.57 EPS for the current fiscal year.

Institutional Trading of Cullen/Frost Bankers

A number of institutional investors have recently made changes to their positions in the stock. Covestor Ltd lifted its stake in Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after acquiring an additional 141 shares during the period. Asset Dedication LLC lifted its stake in 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 period. Whittier Trust Co. lifted its stake in 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 period. Allworth Financial LP lifted its stake in Cullen/Frost Bankers by 116.6% in 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 purchased a new stake in Cullen/Frost Bankers in the third quarter worth $52,000. Hedge funds and other institutional investors 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.