Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $175.00

Cullen/Frost Bankers (NYSE:CFR) had its price target lifted by equities research analysts at Cantor Fitzgerald from $158.00 to $175.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 4.58% from the stock’s previous close.

A number of other brokerages have also recently commented on CFR. Barclays increased their price target on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods upped their price objective on Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. DA Davidson raised their price objective on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Royal Bank Of Canada lifted their target price on Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Finally, Raymond James Financial reissued a “market perform” rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $161.75.

Cullen/Frost Bankers Trading Down 0.4%

Shares of Cullen/Frost Bankers stock opened at $167.33 on Wednesday. The stock has a market cap of $10.40 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers has a 12-month low of $119.00 and a 12-month high of $170.80. The business’s 50 day moving average is $158.53 and its 200-day moving average is $146.14.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. The business had revenue of $576.01 million during the quarter, compared to analysts’ expectations of $589.72 million. During the same period last year, the business earned $2.39 earnings per share. Equities research analysts predict that Cullen/Frost Bankers will post 10.8 earnings per share for the current fiscal year.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Carol Jean Severyn sold 837 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the transaction, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Cullen/Frost Bankers by 61.6% in the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after acquiring an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cullen/Frost Bankers by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock worth $20,896,000 after acquiring an additional 15,063 shares during the period. Geneos Wealth Management Inc. raised its stake in Cullen/Frost Bankers by 40.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after purchasing an additional 106 shares in the last quarter. Invesco Ltd. raised its stake in Cullen/Frost Bankers by 12.2% in the 2nd quarter. Invesco Ltd. now owns 126,040 shares of the bank’s stock worth $16,201,000 after purchasing an additional 13,718 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Cullen/Frost Bankers by 82.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank’s stock valued at $151,000 after purchasing an additional 532 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.