Analysts Set Cullen/Frost Bankers, Inc. (NYSE:CFR) Price Target at $115.77

Cullen/Frost Bankers, Inc. (NYSE:CFR) has been given a consensus rating of “Hold” by the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $117.92.

CFR has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on Cullen/Frost Bankers from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Truist Financial boosted their price target on Cullen/Frost Bankers from $114.00 to $121.00 and gave the company a “hold” rating in a report on Monday, April 1st. UBS Group upped their price objective on Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Jefferies Financial Group upped their price objective on Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a “hold” rating in a report on Monday. Finally, Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, January 26th.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $10,543,972. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFR. State Street Corp lifted its position in shares of Cullen/Frost Bankers by 20.7% during the second quarter. State Street Corp now owns 5,409,625 shares of the bank’s stock worth $581,697,000 after purchasing an additional 928,420 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Cullen/Frost Bankers by 39.1% during the first quarter. Capital Research Global Investors now owns 2,408,656 shares of the bank’s stock worth $333,382,000 after purchasing an additional 676,467 shares during the last quarter. Norges Bank bought a new position in shares of Cullen/Frost Bankers during the fourth quarter worth about $72,627,000. JPMorgan Chase & Co. lifted its position in shares of Cullen/Frost Bankers by 44.5% during the first quarter. JPMorgan Chase & Co. now owns 1,027,531 shares of the bank’s stock worth $108,240,000 after purchasing an additional 316,556 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Cullen/Frost Bankers by 44.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after purchasing an additional 244,197 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Price Performance

CFR stock opened at $112.28 on Tuesday. Cullen/Frost Bankers has a 1 year low of $82.25 and a 1 year high of $120.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 0.63. The stock’s 50 day moving average price is $107.64 and its 200 day moving average price is $102.01. The firm has a market cap of $7.21 billion, a P/E ratio of 12.34, a PEG ratio of 1.38 and a beta of 1.04.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly 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. The company had revenue of $523.66 million during the quarter, compared to the consensus estimate of $498.09 million. Cullen/Frost Bankers had a return on equity of 19.66% and a net margin of 22.60%. On average, sell-side analysts expect that Cullen/Frost Bankers will post 8.44 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.92 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $3.68 annualized dividend and a yield of 3.28%. Cullen/Frost Bankers’s dividend payout ratio is currently 40.44%.

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.