Cullen/Frost Bankers (NYSE:CFR) Price Target Increased to $138.00 by Analysts at Maxim Group

Cullen/Frost Bankers (NYSE:CFR) had its price target boosted by Maxim Group from $132.00 to $138.00 in a report released on Friday, MarketBeat reports. The brokerage currently has a buy rating on the bank’s stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an overweight rating on the stock in a research note on Thursday, June 27th. DA Davidson restated a buy rating and issued a $126.00 target price on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Wedbush restated a neutral rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Royal Bank of Canada increased their price objective on shares of Cullen/Frost Bankers from $118.00 to $119.00 and gave the company a sector perform rating in a research note on Tuesday, July 9th. Finally, StockNews.com upgraded shares of Cullen/Frost Bankers to a sell rating in a research note on Saturday, May 4th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $119.50.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $117.95 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers has a 1-year low of $82.25 and a 1-year high of $123.17. The firm has a market capitalization of $7.55 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company’s 50-day moving average is $102.95 and its 200 day moving average is $105.97.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same period in the prior year, the company posted $2.47 EPS. Research analysts forecast that Cullen/Frost Bankers will post 8.46 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.22%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 43.50%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CFR. Norges Bank purchased a new position in shares of Cullen/Frost Bankers during the fourth quarter worth $72,627,000. Champlain Investment Partners LLC increased its holdings in Cullen/Frost Bankers by 18.4% in the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after buying an additional 495,215 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after buying an additional 244,197 shares in the last quarter. Polaris Capital Management LLC increased its holdings in Cullen/Frost Bankers by 87.9% in the fourth quarter. Polaris Capital Management LLC now owns 359,100 shares of the bank’s stock valued at $38,959,000 after buying an additional 168,000 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after buying an additional 161,580 shares in 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.