Cullen/Frost Bankers (NYSE:CFR) Stock Rating Lowered by Morgan Stanley

Morgan Stanley lowered shares of Cullen/Frost Bankers (NYSE:CFR) from an equal weight rating to an underweight rating in a research note published on Monday, Marketbeat Ratings reports. They currently have $121.00 price objective on the bank’s stock, up from their previous price objective of $112.00.

Several other research firms have also recently weighed in on CFR. Jefferies Financial Group cut their price objective on Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating on the stock in a report on Wednesday, July 3rd. Evercore ISI dropped their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating on the stock in a research report on Tuesday, June 25th. Maxim Group lifted their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a buy rating in a research report on Friday, July 26th. JPMorgan Chase & Co. dropped their target price on Cullen/Frost Bankers from $140.00 to $130.00 and set an overweight rating on the stock in a research report on Thursday, June 27th. Finally, Truist Financial lifted their target price on Cullen/Frost Bankers from $102.00 to $126.00 and gave the company a hold rating in a research report on Monday, July 29th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $119.93.

Cullen/Frost Bankers Trading Up 1.3 %

NYSE:CFR opened at $106.19 on Monday. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $123.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $6.80 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.03. The business’s 50-day simple moving average is $104.19 and its 200-day simple moving average is $106.27.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same quarter in the previous year, the firm posted $2.47 EPS. Sell-side analysts expect that Cullen/Frost Bankers will post 8.53 earnings per share for the current fiscal 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 given a dividend of $0.95 per share. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.80 annualized dividend and a dividend yield of 3.58%. Cullen/Frost Bankers’s payout ratio is 43.50%.

Insiders Place Their Bets

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares in the company, valued at $2,243,796.45. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Cullen/Frost Bankers in the 4th quarter valued at $72,627,000. Champlain Investment Partners LLC boosted its stake in Cullen/Frost Bankers by 18.4% in 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. Strategic Financial Concepts LLC boosted its stake in Cullen/Frost Bankers by 7,109.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock valued at $255,000 after purchasing an additional 247,416 shares during the period. Goldman Sachs Group Inc. boosted its stake in Cullen/Frost Bankers by 44.1% in 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. Finally, Polaris Capital Management LLC boosted its stake in Cullen/Frost Bankers by 87.9% in the 4th quarter. Polaris Capital Management LLC now owns 359,100 shares of the bank’s stock valued at $38,959,000 after purchasing an additional 168,000 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

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.