Barclays PLC Trims Cullen/Frost Bankers Inc. (CFR) Target Price to $69.00
Cullen/Frost Bankers Inc. (NYSE:CFR) had its price objective decreased by Barclays PLC from $72.00 to $69.00 in a research report sent to investors on Tuesday morning. Barclays PLC currently has an underweight rating on the stock.
Several other equities analysts also recently commented on CFR. Deutsche Bank AG upped their price target on shares of Cullen/Frost Bankers from $66.00 to $77.00 and gave the company a hold rating in a report on Tuesday. Maxim Group upped their price target on shares of Cullen/Frost Bankers from $70.00 to $85.00 and gave the company a buy rating in a report on Thursday, July 28th. Zacks Investment Research downgraded shares of Cullen/Frost Bankers from a hold rating to a sell rating in a report on Tuesday, June 28th. Royal Bank Of Canada upped their price target on shares of Cullen/Frost Bankers from $63.00 to $70.00 and gave the company a sector perform rating in a report on Thursday, July 28th. Finally, RBC Capital Markets reiterated a sector perform rating and set a $70.00 price target (up from $63.00) on shares of Cullen/Frost Bankers in a report on Thursday, July 28th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $67.83.
Cullen/Frost Bankers (NYSE:CFR) opened at 71.04 on Tuesday. The firm’s 50 day moving average is $71.28 and its 200-day moving average is $65.62. The company has a market cap of $4.41 billion, a P/E ratio of 16.79 and a beta of 1.11. Cullen/Frost Bankers has a 52 week low of $42.41 and a 52 week high of $74.12.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a net margin of 24.81% and a return on equity of 9.67%. During the same quarter in the prior year, the business posted $1.11 EPS. On average, analysts predict that Cullen/Frost Bankers will post $4.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.54 per share. The ex-dividend date was Monday, August 29th. This represents a $2.16 dividend on an annualized basis and a yield of 3.04%. Cullen/Frost Bankers’s payout ratio is 50.82%.
In related news, insider Candace K. Wolfshohl sold 4,500 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $69.88, for a total transaction of $314,460.00. Following the completion of the sale, the insider now owns 8,145 shares of the company’s stock, valued at $569,172.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack A. Wood sold 10,200 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $73.15, for a total transaction of $746,130.00. The disclosure for this sale can be found here. Corporate insiders own 8.03% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Prudential Financial Inc. boosted its stake in Cullen/Frost Bankers by 243.4% in the first quarter. Prudential Financial Inc. now owns 200,838 shares of the company’s stock worth $11,069,000 after buying an additional 142,360 shares during the last quarter. BlackRock Inc. boosted its stake in Cullen/Frost Bankers by 31.3% in the first quarter. BlackRock Inc. now owns 122,658 shares of the company’s stock worth $6,760,000 after buying an additional 29,242 shares during the last quarter. BlackRock Group LTD boosted its stake in Cullen/Frost Bankers by 5.9% in the first quarter. BlackRock Group LTD now owns 62,048 shares of the company’s stock worth $3,420,000 after buying an additional 3,462 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Cullen/Frost Bankers during the first quarter worth approximately $420,000. Finally, Bessemer Group Inc. boosted its stake in Cullen/Frost Bankers by 5.3% in the first quarter. Bessemer Group Inc. now owns 2,033 shares of the company’s stock worth $112,000 after buying an additional 103 shares during the last quarter. 84.76% of the stock is owned by institutional investors.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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