Cullen/Frost Bankers (NYSE:CFR) Price Target Lowered to $117.00 at Morgan Stanley

Cullen/Frost Bankers (NYSE:CFR) had its price objective trimmed by Morgan Stanley from $121.00 to $117.00 in a research report released on Monday, Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

A number of other equities analysts have also recently issued reports on CFR. JPMorgan Chase & Co. lowered their target price on Cullen/Frost Bankers from $140.00 to $130.00 and set an overweight rating for the company in a report on Thursday, June 27th. Evercore ISI cut their target price on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating on the stock in a research report on Tuesday, June 25th. DA Davidson raised their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a buy rating in a research note on Friday, July 26th. Maxim Group raised their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a buy rating in a research report on Friday, July 26th. Finally, Wedbush decreased their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a neutral rating for the company in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of Hold and an average price target of $121.14.

Cullen/Frost Bankers Stock Up 0.5 %

Shares of NYSE CFR opened at $108.95 on Monday. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.36 and a beta of 1.00. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 12 month low of $82.25 and a 12 month high of $123.17. The stock has a 50-day moving average price of $110.47 and a two-hundred day moving average price of $107.05.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. The business had revenue of $528.81 million during the quarter, compared to analysts’ expectations of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same period in the prior year, the company earned $2.47 EPS. As a group, analysts forecast that Cullen/Frost Bankers will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.95 dividend. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 3.49%. The ex-dividend date was Friday, August 30th. Cullen/Frost Bankers’s payout ratio is 44.92%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares in the company, valued at $2,243,796.45. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE boosted its stake in Cullen/Frost Bankers by 57.2% during the 4th quarter. US Bancorp DE now owns 5,713 shares of the bank’s stock valued at $620,000 after purchasing an additional 2,078 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Cullen/Frost Bankers by 6.6% during the fourth quarter. Hsbc Holdings PLC now owns 15,071 shares of the bank’s stock valued at $1,641,000 after buying an additional 930 shares during the last quarter. Parallel Advisors LLC grew its holdings in Cullen/Frost Bankers by 89.7% during the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock worth $50,000 after buying an additional 218 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in Cullen/Frost Bankers by 304.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,986 shares of the bank’s stock valued at $432,000 after buying an additional 3,000 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Cullen/Frost Bankers by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 26,255 shares of the bank’s stock valued at $2,848,000 after acquiring an additional 260 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

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.