Stephens Forecasts Strong Price Appreciation for Cullen/Frost Bankers (NYSE:CFR) Stock

Cullen/Frost Bankers (NYSE:CFR) had its price objective raised by research analysts at Stephens from $125.00 to $136.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Stephens’ price objective suggests a potential upside of 8.22% from the company’s previous close.

A number of other brokerages have also recently issued reports on CFR. Maxim Group upped their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a report on Friday. Evercore ISI cut their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. Citigroup dropped their price target on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a research report on Monday, September 30th. Wedbush decreased their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Truist Financial decreased their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus price target of $123.31.

Cullen/Frost Bankers Stock Down 1.3 %

NYSE:CFR traded down $1.68 during trading hours on Friday, hitting $125.67. 418,973 shares of the stock traded hands, compared to its average volume of 450,536. The firm has a 50 day moving average price of $115.33 and a 200 day moving average price of $108.87. 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 has a fifty-two week low of $90.94 and a fifty-two week high of $135.00. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.60 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.08. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The company had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. During the same period in the previous year, the business earned $2.38 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Cullen/Frost Bankers will post 8.57 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Keene & Associates Inc. increased its stake in shares of Cullen/Frost Bankers by 1.7% during the 3rd quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after purchasing an additional 89 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Cullen/Frost Bankers by 7.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after purchasing an additional 97 shares during the last quarter. First National Bank of Hutchinson increased its stake in shares of Cullen/Frost Bankers by 1.6% during the 1st quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock worth $713,000 after purchasing an additional 102 shares during the last quarter. Asset Dedication LLC increased its stake in shares of Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Cullen/Frost Bankers by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after purchasing an additional 106 shares during 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.