Cullen/Frost Bankers (NYSE:CFR) Given New $130.00 Price Target at JPMorgan Chase & Co.

Cullen/Frost Bankers (NYSE:CFR) had its price objective cut by JPMorgan Chase & Co. from $140.00 to $130.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Several other equities analysts have also commented on CFR. Jefferies Financial Group boosted their price target on Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a hold rating in a research report on Monday, April 8th. Wedbush reaffirmed a neutral rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a report on Friday, April 26th. StockNews.com raised shares of Cullen/Frost Bankers to a sell rating in a research report on Saturday, May 4th. DA Davidson restated a buy rating and set a $126.00 target price on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Finally, Evercore ISI cut their price target on Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating on the stock in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of Hold and an average price target of $115.69.

Cullen/Frost Bankers Trading Up 2.3 %

Shares of CFR stock opened at $101.63 on Thursday. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $120.31. The firm’s 50 day moving average price is $103.05 and its two-hundred day moving average price is $105.99. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.27 and a beta of 1.02. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. The firm had revenue of $522.74 million during the quarter, compared to analysts’ expectations of $510.09 million. During the same period in the prior year, the company earned $2.70 EPS. On average, analysts anticipate that Cullen/Frost Bankers will post 8.4 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Thursday, May 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.50%.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several institutional investors and hedge funds have recently bought and sold shares of the business. ICA Group Wealth Management LLC acquired a new position in Cullen/Frost Bankers in the fourth quarter valued at approximately $33,000. Arvest Investments Inc. bought a new position in Cullen/Frost Bankers during the 4th quarter worth $35,000. CWM LLC increased its position in Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after buying an additional 106 shares during the period. GAMMA Investing LLC bought a new stake in Cullen/Frost Bankers in the fourth quarter valued at $43,000. Finally, Whittier Trust Co. boosted its holdings in shares of Cullen/Frost Bankers by 90.7% during the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after acquiring an additional 186 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.