Brokerages Set Cullen/Frost Bankers, Inc. (NYSE:CFR) Price Target at $127.07

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) have earned an average rating of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $127.07.

Several research analysts recently issued reports on the stock. Citigroup upped their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods raised their price target on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Evercore ISI dropped their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. Stephens increased their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Wedbush cut their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th.

Insiders Place Their Bets

In other news, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the transaction, the executive vice president now owns 2,888 shares in the company, valued at $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the completion of the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. This represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,864 shares of company stock worth $2,977,033. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Covestor Ltd raised its position in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Cullen/Frost Bankers during the 3rd quarter worth approximately $29,000. Asset Dedication LLC raised its holdings in shares of Cullen/Frost Bankers by 63.3% in 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 last quarter. Brooklyn Investment Group acquired a new position in Cullen/Frost Bankers during the third quarter worth $44,000. Finally, Allworth Financial LP increased its stake in Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after buying an additional 239 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Trading Up 0.8 %

Shares of CFR stock opened at $135.69 on Thursday. The company has a market capitalization of $8.70 billion, a P/E ratio of 16.84, a P/E/G ratio of 1.66 and a beta of 1.00. Cullen/Frost Bankers has a 12-month low of $94.09 and a 12-month high of $147.64. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $136.81 and a 200 day moving average price of $120.16.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. Cullen/Frost Bankers’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.38 earnings per share. Research analysts forecast that Cullen/Frost Bankers will post 8.75 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

About Cullen/Frost Bankers

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.