Evercore ISI Trims Cullen/Frost Bankers (NYSE:CFR) Target Price to $115.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective dropped by research analysts at Evercore ISI from $123.00 to $115.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “underperform” rating on the bank’s stock. Evercore ISI’s price objective suggests a potential upside of 5.55% from the company’s previous close.

CFR has been the subject of a number of other research reports. Citigroup lowered their price objective on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a research report on Monday. Maxim Group lifted their price target on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 26th. Morgan Stanley cut their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday. Jefferies Financial Group dropped their price target on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Finally, Truist Financial decreased their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $121.14.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $108.95 on Wednesday. Cullen/Frost Bankers has a 12-month low of $82.25 and a 12-month high of $123.17. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.36 and a beta of 1.00. The company’s 50-day moving average is $110.47 and its two-hundred day moving average is $107.05. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.14. The business had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter in the prior year, the firm posted $2.47 earnings per share. Research analysts expect that Cullen/Frost Bankers will post 8.62 EPS for the current year.

Insider Activity at Cullen/Frost Bankers

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

Institutional Trading of Cullen/Frost Bankers

Several institutional investors have recently added to or reduced their stakes in CFR. Champlain Investment Partners LLC increased its position in shares of 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 worth $359,378,000 after purchasing an additional 495,215 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in Cullen/Frost Bankers in the second quarter valued at about $37,813,000. Strategic Financial Concepts LLC raised its stake in Cullen/Frost Bankers by 7,109.7% during the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock valued at $255,000 after buying an additional 247,416 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Cullen/Frost Bankers by 44.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after buying an additional 244,197 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Cullen/Frost Bankers by 18.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after acquiring an additional 161,580 shares in the last quarter. 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.