Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $121.00 at Jefferies Financial Group

Cullen/Frost Bankers (NYSE:CFR) had its target price hoisted by Jefferies Financial Group from $119.00 to $121.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

Several other research analysts have also recently issued reports on the stock. UBS Group increased their price target on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a neutral rating in a report on Monday, January 29th. Wedbush reaffirmed a neutral rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a report on Friday, January 26th. Stephens increased their target price on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an equal weight rating in a report on Friday, January 26th. Keefe, Bruyette & Woods dropped their target price on shares of 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Cullen/Frost Bankers from $135.00 to $140.00 and gave the company an overweight rating in a research report on Thursday, April 4th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of Hold and a consensus price target of $117.92.

Cullen/Frost Bankers Trading Down 0.3 %

NYSE CFR opened at $109.51 on Monday. The stock has a market capitalization of $7.03 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.40 and a beta of 1.03. Cullen/Frost Bankers has a 52-week low of $82.25 and a 52-week high of $120.31. The firm has a 50-day moving average price of $107.88 and a 200 day moving average price of $102.26. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.17. The firm had revenue of $523.66 million during the quarter, compared to analysts’ expectations of $498.09 million. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. Equities research analysts expect that Cullen/Frost Bankers will post 8.46 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.36%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 40.44%.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction 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 transaction, the insider now owns 96,380 shares in the company, valued at approximately $10,543,972. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction 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 Cullen/Frost Bankers stock in a transaction on Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following 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. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its stake in Cullen/Frost Bankers by 0.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 14,966 shares of the bank’s stock worth $1,743,000 after buying an additional 76 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Cullen/Frost Bankers by 26.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 366 shares of the bank’s stock worth $49,000 after purchasing an additional 77 shares during the last quarter. CWM LLC increased its position in shares of Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares during the last quarter. First National Bank of Hutchinson increased its position in shares of Cullen/Frost Bankers by 1.7% in the 3rd quarter. First National Bank of Hutchinson now owns 7,432 shares of the bank’s stock worth $678,000 after purchasing an additional 121 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Cullen/Frost Bankers by 3.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,910 shares of the bank’s stock worth $523,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

About Cullen/Frost Bankers

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.