Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $175.00

Cullen/Frost Bankers (NYSE:CFR) had its price target lifted by Barclays from $160.00 to $175.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

CFR has been the topic of a number of other reports. Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods raised their price target on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Citigroup lifted their price target on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Cantor Fitzgerald boosted their price objective on shares of Cullen/Frost Bankers from $158.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Finally, Jefferies Financial Group raised shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and upped their price objective for the company from $135.00 to $160.00 in a research report on Monday, July 6th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $170.18.

Cullen/Frost Bankers Stock Performance

Shares of NYSE:CFR opened at $150.27 on Monday. The company has a market cap of $9.34 billion, a P/E ratio of 14.20, a PEG ratio of 2.34 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.63 and a current ratio of 0.63. Cullen/Frost Bankers has a one year low of $119.00 and a one year high of $170.80. The business’s 50-day simple moving average is $161.67 and its 200 day simple moving average is $151.17.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, topping the consensus estimate of $2.55 by $0.15. The firm had revenue of $576.01 million for the quarter, compared to analyst estimates of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.During the same period in the previous year, the company posted $2.39 EPS. On average, sell-side analysts forecast that Cullen/Frost Bankers will post 10.94 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. Cullen/Frost Bankers’s payout ratio is presently 38.94%.

Institutional Trading of Cullen/Frost Bankers

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Cullen/Frost Bankers during the second quarter worth $1,133,453,000. Jupiter Topco LLC acquired a new position in shares of Cullen/Frost Bankers in the 2nd quarter valued at about $94,297,000. William Blair Investment Management LLC acquired a new position in shares of Cullen/Frost Bankers in the 2nd quarter valued at about $89,425,000. The Manufacturers Life Insurance Company bought a new stake in shares of Cullen/Frost Bankers during the 2nd quarter valued at about $80,127,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Cullen/Frost Bankers during the 2nd quarter valued at about $79,846,000. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas, and the parent company of Frost Bank. Through Frost, the company provides banking, investment, and financial services to individuals, businesses, and institutions.

Frost Bank offers personal and business deposit accounts, consumer and commercial lending, treasury management, payment services, and other banking products. Its wealth management operations provide trust, investment management, and financial planning services, while the company also offers services related to insurance and investment banking.

Founded in 1868 by Thomas Claiborne Frost, the company has a long history of serving Texas markets.