Cullen/Frost Bankers Inc. (CFR) Price Target Raised to $80.00 at Wedbush
Cullen/Frost Bankers Inc. (NYSE:CFR) had its price objective hoisted by investment analysts at Wedbush from $78.00 to $80.00 in a report released on Wednesday. The brokerage currently has an “underperform” rating on the stock. Wedbush’s price target suggests a potential downside of 0.67% from the company’s previous close.
Other research analysts have also issued reports about the stock. Jefferies Group restated a “hold” rating and issued a $72.00 price objective on shares of Cullen/Frost Bankers in a report on Tuesday, November 1st. Royal Bank Of Canada upped their price objective on shares of Cullen/Frost Bankers from $70.00 to $75.00 and gave the stock a “sector perform” rating in a report on Thursday, October 27th. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. RBC Capital Markets restated a “sector perform” rating and issued a $75.00 price objective (up from $70.00) on shares of Cullen/Frost Bankers in a report on Thursday, October 27th. Finally, Barclays PLC decreased their price objective on shares of Cullen/Frost Bankers from $72.00 to $69.00 and set an “underweight” rating for the company in a report on Tuesday, October 11th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $69.25.
Cullen/Frost Bankers (NYSE:CFR) opened at 80.54 on Wednesday. The company’s 50 day moving average is $77.40 and its 200-day moving average is $70.15. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 18.73 and a beta of 1.15. Cullen/Frost Bankers has a 52-week low of $42.41 and a 52-week high of $86.18.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.08. Cullen/Frost Bankers had a net margin of 25.06% and a return on equity of 9.61%. The company earned $317.78 million during the quarter, compared to analyst estimates of $301.04 million. During the same period in the prior year, the business posted $1.17 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Cullen/Frost Bankers will post $4.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.68%. The ex-dividend date is Monday, November 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 50.00%.
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In related news, Director Jack A. Wood sold 2,000 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $73.14, for a total transaction of $146,280.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Candace K. Wolfshohl sold 4,500 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $69.88, for a total transaction of $314,460.00. Following the sale, the insider now directly owns 8,145 shares in the company, valued at $569,172.60. The disclosure for this sale can be found here. Corporate insiders own 8.03% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Cullen/Frost Bankers by 6.3% in the first quarter. Geode Capital Management LLC now owns 337,276 shares of the company’s stock valued at $18,587,000 after buying an additional 20,062 shares during the period. AMP Capital Investors Ltd purchased a new stake in shares of Cullen/Frost Bankers during the first quarter valued at approximately $640,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Cullen/Frost Bankers by 2.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 49,424 shares of the company’s stock valued at $2,724,000 after buying an additional 1,144 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Cullen/Frost Bankers by 247.8% in the second quarter. BNP Paribas Arbitrage SA now owns 27,304 shares of the company’s stock valued at $1,740,000 after buying an additional 19,454 shares during the period. Finally, Howland Capital Management LLC increased its stake in shares of Cullen/Frost Bankers by 0.6% in the second quarter. Howland Capital Management LLC now owns 64,704 shares of the company’s stock valued at $4,124,000 after buying an additional 397 shares during the period. 83.38% of the stock is currently 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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