Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $120.00

Cullen/Frost Bankers (NYSE:CFR) had its target price boosted by Royal Bank of Canada from $119.00 to $120.00 in a report released on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

A number of other equities research analysts have also issued reports on the stock. Evercore ISI reduced their target price on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating on the stock in a report on Tuesday, June 25th. StockNews.com upgraded shares of Cullen/Frost Bankers to a sell rating in a report on Saturday, May 4th. DA Davidson reiterated a buy rating and set a $126.00 target price on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Jefferies Financial Group reduced their target price on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating on the stock in a report on Wednesday, July 3rd. Finally, Maxim Group increased their target price on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a buy rating in a report on Friday. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $119.50.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $117.95 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $7.55 billion, a P/E ratio of 13.94, a PEG ratio of 1.49 and a beta of 1.03. The company has a 50 day moving average price of $102.95 and a 200 day moving average price of $105.97. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $123.17.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share 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 previous year, the company posted $2.47 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers will post 8.46 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.22%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date is Friday, August 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.50%.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently bought and sold shares of CFR. Raymond James Financial Services Advisors Inc. raised 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 worth $1,131,000 after acquiring an additional 3,609 shares in the last quarter. Pacer Advisors Inc. raised 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 worth $1,044,000 after acquiring an additional 4,263 shares in the last quarter. Arvest Investments Inc. acquired a new stake in Cullen/Frost Bankers during the 4th quarter worth $35,000. Fulton Bank N.A. raised its stake in 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 acquiring an additional 549 shares in the last quarter. Finally, Ceredex Value Advisors LLC raised its stake in 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 acquiring an additional 14,798 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.