Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $201.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective increased by Morgan Stanley from $200.00 to $201.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

Several other equities analysts also recently commented on the company. Zacks Research downgraded Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Keefe, Bruyette & Woods upped their price target on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Stephens raised their price target on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald boosted their price objective on shares of Cullen/Frost Bankers from $158.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $169.45.

Cullen/Frost Bankers Price Performance

CFR stock opened at $152.92 on Monday. The stock has a market cap of $9.50 billion, a PE ratio of 14.45, a P/E/G ratio of 2.35 and a beta of 0.52. Cullen/Frost Bankers has a 12 month low of $119.00 and a 12 month high of $170.80. The company has a 50-day moving average price of $162.83 and a 200 day moving average price of $150.39. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $576.01 million for the quarter, compared to analyst estimates of $589.72 million. During the same period in the prior year, the company posted $2.39 EPS. Equities research analysts anticipate that Cullen/Frost Bankers will post 10.94 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, August 31st. Cullen/Frost Bankers’s dividend payout ratio is presently 38.94%.

Institutional Investors Weigh In On Cullen/Frost Bankers

Large investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Cullen/Frost Bankers during the second quarter valued at approximately $1,133,453,000. State Street Corp raised its stake in Cullen/Frost Bankers by 3.8% in the second quarter. State Street Corp now owns 3,218,249 shares of the bank’s stock worth $497,292,000 after buying an additional 118,313 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Cullen/Frost Bankers by 22.6% in the second quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank’s stock worth $429,204,000 after buying an additional 511,784 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cullen/Frost Bankers by 18.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after buying an additional 236,808 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Cullen/Frost Bankers by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank’s stock worth $155,059,000 after buying an additional 10,246 shares during the period. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas, and the parent company of Frost Bank. Through Frost, the company provides banking, investment, and financial services to individuals, businesses, and institutions.

Frost Bank offers personal and business deposit accounts, consumer and commercial lending, treasury management, payment services, and other banking products. Its wealth management operations provide trust, investment management, and financial planning services, while the company also offers services related to insurance and investment banking.

Founded in 1868 by Thomas Claiborne Frost, the company has a long history of serving Texas markets.