Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $148.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective hoisted by Keefe, Bruyette & Woods from $140.00 to $148.00 in a report published on Monday,Benzinga reports. They currently have a market perform rating on the bank’s stock.

CFR has been the subject of several other research reports. DA Davidson downgraded shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and upped their target price for the stock from $138.00 to $143.00 in a report on Monday. Compass Point upped their price objective on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Citigroup lifted their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Stephens upped their price target on 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, Royal Bank of Canada reiterated a “sector perform” rating and set a $144.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $130.31.

Cullen/Frost Bankers Stock Up 1.2 %

NYSE CFR opened at $140.31 on Monday. The stock’s 50-day moving average price is $137.59 and its 200-day moving average price is $125.38. The company has a market capitalization of $9.00 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 52 week low of $94.09 and a 52 week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 16.04%. On average, equities research analysts predict that Cullen/Frost Bankers will post 8.66 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.71%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 42.84%.

Insider Activity

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at $399,525.92. The trade was a 58.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Bracher sold 11,500 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the sale, the insider now directly owns 102,946 shares of the company’s stock, valued at $14,355,819.70. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,858 shares of company stock worth $4,137,865. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CFR. Covestor Ltd boosted its holdings in Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after acquiring an additional 141 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Cullen/Frost Bankers during the third quarter worth $29,000. Asset Dedication LLC boosted its stake in shares of Cullen/Frost Bankers by 63.3% during the third 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. UMB Bank n.a. boosted its stake in shares of Cullen/Frost Bankers by 45.8% during the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after purchasing an additional 77 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Cullen/Frost Bankers in the third quarter worth about $44,000. 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.