TD Cowen Cuts Cullen/Frost Bankers (NYSE:CFR) Price Target to $178.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective cut by TD Cowen from $185.00 to $178.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank Of Canada upped their price target on shares of 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. Cantor Fitzgerald boosted their price objective on shares of Cullen/Frost Bankers from $158.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 15th. Raymond James Financial restated a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Finally, Barclays increased their target price on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $170.18.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $150.27 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05. The company has a market cap of $9.34 billion, a P/E ratio of 14.20, a PEG ratio of 2.34 and a beta of 0.56. Cullen/Frost Bankers has a 52 week low of $119.00 and a 52 week high of $170.80. The company has a 50-day moving average price of $161.67 and a 200 day moving average price of $151.17.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.15. The company had revenue of $576.01 million for the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.During the same quarter in the previous year, the firm posted $2.39 EPS. Research analysts predict that Cullen/Frost Bankers will post 10.94 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

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

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of large investors have recently added to or reduced their stakes in CFR. BlackRock Inc. acquired a new position in Cullen/Frost Bankers during the second quarter worth about $1,133,453,000. State Street Corp lifted its holdings in shares of Cullen/Frost Bankers by 3.8% in the second quarter. State Street Corp now owns 3,218,249 shares of the bank’s stock valued at $497,292,000 after purchasing an additional 118,313 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of 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 valued at $429,204,000 after purchasing an additional 511,784 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Cullen/Frost Bankers by 18.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock valued at $209,833,000 after purchasing an additional 236,808 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Cullen/Frost Bankers by 11.8% during the 1st quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock worth $165,966,000 after purchasing an additional 127,483 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

About Cullen/Frost Bankers

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.