Evercore ISI Cuts Cullen/Frost Bankers (NYSE:CFR) Price Target to $100.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective trimmed by Evercore ISI from $109.00 to $100.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an underperform rating on the bank’s stock.

A number of other equities analysts have also issued reports on the stock. Royal Bank of Canada reaffirmed a sector perform rating and set a $118.00 target price on shares of Cullen/Frost Bankers in a research report on Tuesday, April 9th. Jefferies Financial Group upped their price objective on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a hold rating in a research report on Monday, April 8th. DA Davidson restated a buy rating and set a $126.00 price target on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Truist Financial reduced their price objective on Cullen/Frost Bankers from $121.00 to $115.00 and set a hold rating for the company in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. boosted their price objective on 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 investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $115.69.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $99.40 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. Cullen/Frost Bankers has a one year low of $82.25 and a one year high of $120.31. The company’s fifty day moving average price is $103.25 and its 200 day moving average price is $105.96. The company has a market capitalization of $6.39 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.02. The business had revenue of $522.74 million during the quarter, compared to analysts’ expectations of $510.09 million. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. During the same quarter in the previous year, the firm earned $2.70 EPS. As a group, analysts expect that Cullen/Frost Bankers will post 8.42 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.92 per share. The ex-dividend date was Thursday, May 30th. This represents a $3.68 annualized dividend and a yield of 3.70%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 43.50%.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of hedge funds have recently added to or reduced their stakes in the stock. First National Bank of Hutchinson lifted its position in shares of Cullen/Frost Bankers by 1.6% during the first quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock worth $713,000 after purchasing an additional 102 shares in the last quarter. CWM LLC raised its position in 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. Commerce Bank lifted its holdings in Cullen/Frost Bankers by 1.0% during the 4th quarter. Commerce Bank now owns 13,047 shares of the bank’s stock worth $1,415,000 after buying an additional 128 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in Cullen/Frost Bankers by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 25,995 shares of the bank’s stock valued at $2,371,000 after buying an additional 130 shares during the last quarter. Finally, Cardinal Capital Management increased its stake in shares of Cullen/Frost Bankers by 1.3% in the 4th quarter. Cardinal Capital Management now owns 10,459 shares of the bank’s stock valued at $1,135,000 after buying an additional 130 shares during the period. Institutional investors own 86.90% of the company’s stock.

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.