Cullen/Frost Bankers (NYSE:CFR) Price Target Cut to $102.00 by Analysts at Truist Financial

Cullen/Frost Bankers (NYSE:CFR) had its price objective cut by Truist Financial from $115.00 to $102.00 in a report released on Monday morning, Benzinga reports. They currently have a hold rating on the bank’s stock.

A number of other brokerages have also recently issued reports on CFR. DA Davidson reiterated a buy rating and issued a $126.00 price target on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Wedbush reiterated a neutral rating and issued a $115.00 price target on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Evercore ISI dropped their price target on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating on the stock in a research note on Tuesday, June 25th. StockNews.com upgraded shares of Cullen/Frost Bankers to a sell rating in a research note on Saturday, May 4th. Finally, Jefferies Financial Group lowered their target price on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating on the stock in a research note on Wednesday, July 3rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $113.77.

Cullen/Frost Bankers Stock Up 2.0 %

NYSE:CFR opened at $102.06 on Monday. The firm’s 50-day moving average price is $101.27 and its 200-day moving average price is $105.50. The company has a market capitalization of $6.56 billion, a PE ratio of 12.06, a P/E/G ratio of 1.22 and a beta of 1.03. 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 1-year low of $82.25 and a 1-year high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. The firm had revenue of $522.74 million for the quarter, compared to the consensus estimate of $510.09 million. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same period in the prior year, the firm earned $2.70 EPS. On average, equities analysts predict that Cullen/Frost Bankers will post 8.42 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, May 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.50%.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several institutional investors have recently made changes to their positions in the business. First National Bank of Hutchinson increased its holdings in Cullen/Frost Bankers by 1.6% in the 1st quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock worth $713,000 after acquiring an additional 102 shares in the last quarter. CWM LLC increased its holdings 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 acquiring an additional 106 shares in the last quarter. Commerce Bank increased its holdings in Cullen/Frost Bankers by 1.0% in the 4th quarter. Commerce Bank now owns 13,047 shares of the bank’s stock worth $1,415,000 after acquiring an additional 128 shares in the last quarter. Cardinal Capital Management increased its holdings in Cullen/Frost Bankers by 1.3% in the 4th quarter. Cardinal Capital Management now owns 10,459 shares of the bank’s stock worth $1,135,000 after acquiring an additional 130 shares in the last quarter. Finally, Tributary Capital Management LLC increased its holdings in Cullen/Frost Bankers by 2.0% in the 4th quarter. Tributary Capital Management LLC now owns 7,395 shares of the bank’s stock worth $802,000 after acquiring an additional 147 shares in the last quarter. 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.