Cullen/Frost Bankers, Inc. (NYSE:CFR) Receives $123.86 Average Price Target from Brokerages

Cullen/Frost Bankers, Inc. (NYSE:CFR) has been given a consensus recommendation of “Hold” by the fourteen research firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $123.86.

A number of brokerages have recently issued reports on CFR. Truist Financial cut their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Royal Bank of Canada raised their price objective on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Citigroup boosted 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. Maxim Group raised their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Compass Point boosted their price objective on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at $3,367,550.91. The trade was a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $553,360.00. Following the completion of the sale, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CFR. Covestor Ltd increased its position in shares of Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of Cullen/Frost Bankers by 63.3% in the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Cullen/Frost Bankers during the third quarter valued at $44,000. Allworth Financial LP boosted its position in shares of Cullen/Frost Bankers by 116.6% during the third 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. Finally, Capital Performance Advisors LLP bought a new stake in Cullen/Frost Bankers in the 3rd quarter worth about $52,000. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Down 0.2 %

NYSE CFR opened at $139.27 on Wednesday. The stock’s 50-day simple moving average is $120.88 and its two-hundred day simple moving average is $110.97. Cullen/Frost Bankers has a twelve month low of $94.09 and a twelve month high of $144.89. 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 company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.68 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The company had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same quarter in the previous year, the company posted $2.38 EPS. Cullen/Frost Bankers’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts forecast that Cullen/Frost Bankers will post 8.71 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.73%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

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.