Cullen/Frost Bankers (NYSE:CFR) Given New $136.00 Price Target at Stephens

Cullen/Frost Bankers (NYSE:CFR) had its price target hoisted by Stephens from $125.00 to $136.00 in a research note issued to investors on Friday, Benzinga reports. Stephens currently has an equal weight rating on the bank’s stock.

A number of other brokerages have also issued reports on CFR. DA Davidson boosted their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Morgan Stanley lowered their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research note on Monday, September 30th. Evercore ISI reduced their price target on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, October 2nd. Wedbush lowered their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Truist Financial cut their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.31.

Cullen/Frost Bankers Stock Performance

Shares of NYSE:CFR traded down $1.37 on Friday, reaching $125.98. 637,622 shares of the company’s stock were exchanged, compared to its average volume of 536,240. Cullen/Frost Bankers has a fifty-two week low of $90.94 and a fifty-two week high of $135.00. The business’s 50-day moving average is $115.61 and its two-hundred day moving average is $109.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.56 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.08. The company had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a return on equity of 16.34% and a net margin of 23.98%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $2.38 earnings per share. As a group, equities research analysts forecast that Cullen/Frost Bankers will post 8.57 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.02%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Institutional Trading of Cullen/Frost Bankers

A number of hedge funds have recently bought and sold shares of the company. Keene & Associates Inc. increased its holdings in shares of Cullen/Frost Bankers by 1.7% in the 3rd quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock valued at $586,000 after purchasing an additional 89 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Cullen/Frost Bankers by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after buying an additional 97 shares in the last quarter. First National Bank of Hutchinson boosted its stake in shares of Cullen/Frost Bankers by 1.6% during the 1st quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock valued at $713,000 after buying an additional 102 shares during the period. Asset Dedication LLC grew its holdings in shares of Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after acquiring an additional 105 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Cullen/Frost Bankers by 18.5% in the third quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after acquiring an additional 106 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other 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.