Evercore ISI Trims Cullen/Frost Bankers (NYSE:CFR) Target Price to $115.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective lowered by Evercore ISI from $123.00 to $115.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an underperform rating on the bank’s stock.

A number of other brokerages have also recently weighed in on CFR. Wedbush decreased their price objective 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. Stephens raised their price target on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an equal weight rating in a report on Friday, July 26th. Truist Financial reduced 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. Maxim Group raised their target price on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a buy rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group reduced their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating on the stock in a research report on Wednesday, July 3rd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $121.14.

Cullen/Frost Bankers Stock Up 4.0 %

NYSE:CFR opened at $113.29 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers has a 1-year low of $82.25 and a 1-year high of $123.17. The company has a 50-day moving average of $110.17 and a 200 day moving average of $107.11. The firm has a market cap of $7.28 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.32 and a beta of 1.00.

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, beating analysts’ consensus estimates of $2.07 by $0.14. The firm had revenue of $528.81 million for the quarter, compared to the consensus estimate 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 last year, the firm earned $2.47 earnings per share. As a group, research analysts anticipate that Cullen/Frost Bankers will post 8.64 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.95 dividend. The ex-dividend date was Friday, August 30th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.35%. Cullen/Frost Bankers’s dividend payout ratio is currently 44.92%.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares in the company, valued at approximately $2,243,796.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated 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 transaction, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the sale, the executive vice president now owns 18,753 shares in the company, valued at $2,243,796.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Cullen/Frost Bankers by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock valued at $695,729,000 after purchasing an additional 19,755 shares in the last quarter. Champlain Investment Partners LLC grew its position in Cullen/Frost Bankers by 18.4% during the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after buying an additional 495,215 shares during the period. Janus Henderson Group PLC increased its holdings in Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after buying an additional 161,580 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cullen/Frost Bankers by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock worth $96,856,000 after acquiring an additional 120,333 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Cullen/Frost Bankers by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock worth $92,432,000 after acquiring an additional 12,897 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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.