Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $122.00 at Compass Point

Cullen/Frost Bankers (NYSE:CFR) had its price target hoisted by Compass Point from $111.00 to $122.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

CFR has been the topic of several other reports. Maxim Group upped their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Citigroup boosted their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday. Evercore ISI lowered their price objective 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. Royal Bank of Canada raised their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Finally, Wedbush decreased their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $123.86.

Cullen/Frost Bankers Stock Up 0.9 %

Shares of CFR traded up $1.25 during trading hours on Tuesday, hitting $139.30. The company had a trading volume of 29,048 shares, compared to its average volume of 455,563. Cullen/Frost Bankers has a one year low of $91.24 and a one year high of $144.19. The company’s fifty day moving average price is $117.36 and its two-hundred day moving average price is $109.68. The company has a market capitalization of $8.93 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06.

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

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.73%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CFR. Keene & Associates Inc. lifted 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 worth $586,000 after acquiring an additional 89 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Cullen/Frost Bankers by 7.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after purchasing an additional 97 shares in the last quarter. First National Bank of Hutchinson boosted its position in shares of Cullen/Frost Bankers by 1.6% during the first quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock worth $713,000 after buying an additional 102 shares during the period. Asset Dedication LLC boosted its position in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after buying an additional 105 shares during the period. Finally, GAMMA Investing LLC grew 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 valued at $76,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.