Citigroup Issues Positive Forecast for Cullen/Frost Bankers (NYSE:CFR) Stock Price

Cullen/Frost Bankers (NYSE:CFR) had its price target lifted by Citigroup from $104.00 to $113.00 in a report published on Monday,Benzinga reports. Citigroup currently has a sell rating on the bank’s stock.

A number of other analysts have also recently issued reports on CFR. Stephens boosted their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Morgan Stanley dropped their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday, September 30th. Truist Financial decreased their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Royal Bank of Canada increased their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, DA Davidson boosted their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus price target of $123.86.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $138.05 on Monday. Cullen/Frost Bankers has a 12 month low of $91.24 and a 12 month high of $144.19. The company has a market cap of $8.85 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.74 and a beta of 0.98. The business’s 50 day moving average is $117.36 and its two-hundred day moving average is $109.68. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. During the same quarter in the previous year, the firm posted $2.38 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts expect that Cullen/Frost Bankers will post 8.71 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is presently 47.15%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of large investors have recently added to or reduced their stakes in the company. Prospera Financial Services Inc bought a new position in shares of Cullen/Frost Bankers during the 3rd quarter worth approximately $200,000. Pathstone Holdings LLC boosted its holdings in Cullen/Frost Bankers by 45.0% during the third quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank’s stock worth $2,156,000 after purchasing an additional 5,981 shares during the last quarter. LMR Partners LLP bought a new position in Cullen/Frost Bankers in the third quarter valued at $402,000. Quest Partners LLC acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at $369,000. Finally, Glass Wealth Management Co LLC lifted its position in Cullen/Frost Bankers by 19.9% during the 3rd quarter. Glass Wealth Management Co LLC now owns 35,224 shares of the bank’s stock worth $3,940,000 after buying an additional 5,837 shares in the last quarter. Institutional investors 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.