Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $124.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective lifted by Wedbush from $106.00 to $124.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Several other brokerages also recently issued reports on CFR. Truist Financial cut their price target on shares of Cullen/Frost Bankers from $115.00 to $102.00 and set a hold rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. lowered their price target on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an overweight rating for the company in a research report on Thursday, June 27th. Jefferies Financial Group decreased their price objective on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating for the company in a report on Wednesday, July 3rd. DA Davidson restated a buy rating and set a $126.00 price objective on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Finally, Evercore ISI cut their price target on shares of 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 given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $119.50.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock opened at $117.95 on Friday. 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 fifty-two week low of $82.25 and a fifty-two week high of $123.17. The firm has a fifty day moving average price of $102.95 and a two-hundred day moving average price of $105.97. The company has a market cap of $7.55 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter in the prior year, the business posted $2.47 earnings per share. Analysts expect that Cullen/Frost Bankers will post 8.46 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.95 per share. The ex-dividend date is Friday, August 30th. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 3.22%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 43.50%.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several large investors have recently bought and sold shares of CFR. Raymond James Financial Services Advisors Inc. lifted its stake in Cullen/Frost Bankers by 53.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,420 shares of the bank’s stock valued at $1,131,000 after acquiring an additional 3,609 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Cullen/Frost Bankers by 79.5% during the 4th quarter. Pacer Advisors Inc. now owns 9,623 shares of the bank’s stock valued at $1,044,000 after acquiring an additional 4,263 shares in the last quarter. Arvest Investments Inc. bought a new position in Cullen/Frost Bankers during the 4th quarter valued at $35,000. Fulton Bank N.A. raised its stake in shares of Cullen/Frost Bankers by 14.4% during the 4th quarter. Fulton Bank N.A. now owns 4,369 shares of the bank’s stock worth $474,000 after purchasing an additional 549 shares during the period. Finally, Ceredex Value Advisors LLC raised its stake in shares of Cullen/Frost Bankers by 11.2% during the 4th quarter. Ceredex Value Advisors LLC now owns 146,848 shares of the bank’s stock worth $15,932,000 after purchasing an additional 14,798 shares during the period. 86.90% of the stock is currently owned by 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.