Truist Financial Cuts Cullen/Frost Bankers (NYSE:CFR) Price Target to $123.00

Cullen/Frost Bankers (NYSE:CFR) had its target price dropped by stock analysts at Truist Financial from $126.00 to $123.00 in a report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s target price would indicate a potential upside of 7.67% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on CFR. DA Davidson raised their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a report on Friday, July 26th. Stephens raised their price target on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Maxim Group raised their price target on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 26th. Evercore ISI dropped their price target on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a report on Tuesday, June 25th. Finally, Morgan Stanley cut Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $112.00 to $121.00 in a report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $119.71.

Cullen/Frost Bankers Trading Down 1.1 %

Shares of CFR opened at $114.24 on Friday. Cullen/Frost Bankers has a 1 year low of $82.25 and a 1 year high of $123.17. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $110.78 and a 200-day simple moving average of $106.88. The stock has a market cap of $7.34 billion, a PE ratio of 13.50, a PEG ratio of 1.35 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results 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. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The business had revenue of $528.81 million during the quarter, compared to analysts’ expectations of $506.83 million. During the same period in the prior year, the firm posted $2.47 EPS. On average, sell-side analysts predict that Cullen/Frost Bankers will post 8.62 EPS for the current fiscal year.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares in the company, valued at approximately $190,481.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $357,600.00. Following the transaction, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The disclosure for this sale can be found here. 2.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in Cullen/Frost Bankers by 20.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 787,599 shares of the bank’s stock worth $85,451,000 after acquiring an additional 131,726 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Cullen/Frost Bankers by 125.2% in the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock valued at $1,338,000 after purchasing an additional 6,610 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of Cullen/Frost Bankers by 4.5% in the 4th quarter. Westwood Holdings Group Inc. now owns 371,879 shares of the bank’s stock valued at $40,345,000 after purchasing an additional 15,981 shares during the period. Oak Harvest Investment Services acquired a new stake in shares of Cullen/Frost Bankers in the 1st quarter valued at about $2,972,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Cullen/Frost Bankers by 44.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after purchasing an additional 244,197 shares during the period. 86.90% of the stock is currently 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.