Cullen/Frost Bankers (NYSE:CFR) PT Raised to $113.00

Cullen/Frost Bankers (NYSE:CFR) had its target price upped by investment analysts at Evercore ISI from $109.00 to $113.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “underperform” rating on the bank’s stock. Evercore ISI’s price target points to a potential upside of 0.86% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. Keefe, Bruyette & Woods reduced their target price on Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Morgan Stanley upped their target price on Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Compass Point downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Citigroup began coverage on Cullen/Frost Bankers in a research note on Friday, December 1st. They issued a “sell” rating and a $94.00 price objective for the company. Finally, Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $113.92.

Cullen/Frost Bankers Price Performance

CFR stock traded up $0.72 during trading hours on Thursday, hitting $112.04. 42,210 shares of the stock traded hands, compared to its average volume of 424,180. The stock has a 50-day simple moving average of $107.04 and a 200 day simple moving average of $101.01. Cullen/Frost Bankers has a one year low of $82.25 and a one year high of $120.31. The company has a market cap of $7.20 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.33 and a beta of 1.03. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, January 25th. The bank reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.17. Cullen/Frost Bankers had a return on equity of 19.66% and a net margin of 22.60%. The business had revenue of $523.66 million during the quarter, compared to analysts’ expectations of $498.09 million. Equities analysts forecast that Cullen/Frost Bankers will post 8.47 earnings per share for the current year.

Insider Activity

In other news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the transaction, the executive vice president now owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the sale, the executive vice president now owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the completion of the sale, the insider now directly owns 96,380 shares in the company, valued at approximately $10,543,972. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. increased its stake in shares of Cullen/Frost Bankers by 10.3% in the 1st quarter. American Century Companies Inc. now owns 5,345 shares of the bank’s stock valued at $740,000 after buying an additional 501 shares during the period. Natixis Advisors L.P. bought a new stake in shares of Cullen/Frost Bankers in the first quarter valued at about $1,736,000. BlackRock Inc. lifted its holdings in shares of Cullen/Frost Bankers by 0.8% in the first quarter. BlackRock Inc. now owns 5,032,068 shares of the bank’s stock valued at $696,489,000 after purchasing an additional 39,554 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Cullen/Frost Bankers by 9.0% during the first quarter. Great West Life Assurance Co. Can now owns 31,607 shares of the bank’s stock worth $4,501,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Cullen/Frost Bankers during the first quarter worth about $211,000. 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.