Royal Bank of Canada Raises Cullen/Frost Bankers (NYSE:CFR) Price Target to $119.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective upped by Royal Bank of Canada from $118.00 to $119.00 in a research note issued to investors on Tuesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

A number of other equities research analysts have also recently commented on CFR. DA Davidson reissued a buy rating and issued a $126.00 price objective 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 $115.00 to $102.00 and set a hold rating for the company in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on Cullen/Frost Bankers from $140.00 to $130.00 and set an overweight rating for the company in a research note on Thursday, June 27th. Wedbush reissued a neutral rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Finally, Jefferies Financial Group cut their target price on Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating on the stock in a research report on Wednesday, July 3rd. Three equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $113.77.

Cullen/Frost Bankers Trading Up 2.0 %

NYSE CFR opened at $102.06 on Tuesday. The business has a 50 day simple moving average of $101.27 and a 200 day simple moving average of $105.50. Cullen/Frost Bankers has a one year low of $82.25 and a one year high of $120.31. The stock has a market capitalization of $6.56 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.25 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 (NYSE:CFR) last released its earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. The business had revenue of $522.74 million during the quarter, compared to analysts’ expectations of $510.09 million. During the same quarter last year, the firm posted $2.70 earnings per share. Research analysts expect that Cullen/Frost Bankers will post 8.42 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

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

Institutional Trading of Cullen/Frost Bankers

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Cullen/Frost Bankers by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock valued at $695,729,000 after buying an additional 19,755 shares during the period. Champlain Investment Partners LLC raised its stake in shares of Cullen/Frost Bankers by 18.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after purchasing an additional 495,215 shares during the period. Janus Henderson Group PLC raised its stake in shares of Cullen/Frost Bankers by 18.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after purchasing an additional 161,580 shares during the period. Principal Financial Group Inc. raised its stake in shares of Cullen/Frost Bankers by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock valued at $92,432,000 after purchasing an additional 12,897 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Cullen/Frost Bankers by 44.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after purchasing an additional 244,197 shares during the period. 86.90% of the stock is currently owned by institutional investors.

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.