Morgan Stanley Cuts Cullen/Frost Bankers (NYSE:CFR) Price Target to $133.00

Cullen/Frost Bankers (NYSE:CFR) had its target price trimmed by Morgan Stanley from $143.00 to $133.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the bank’s stock.

Several other research analysts have also recently weighed in on CFR. DA Davidson upped their price objective on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. TD Cowen reiterated a “positive” rating on shares of Cullen/Frost Bankers in a research report on Monday, February 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Cullen/Frost Bankers from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Royal Bank Of Canada increased their price target on shares of Cullen/Frost Bankers from $144.00 to $150.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Finally, Loop Capital set a $160.00 price objective on shares of Cullen/Frost Bankers in a research report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $141.83.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $138.58 on Tuesday. Cullen/Frost Bankers has a 52 week low of $100.31 and a 52 week high of $148.97. The business has a 50-day simple moving average of $138.67 and a 200 day simple moving average of $131.35. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.05. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 5.08 and a beta of 0.61.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.09. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $578.05 million. Cullen/Frost Bankers had a return on equity of 15.49% and a net margin of 22.21%.During the same quarter last year, the firm posted $2.36 EPS. On average, research analysts forecast that Cullen/Frost Bankers will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, February 27th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 40.32%.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $137.07, for a total value of $137,070.00. Following the completion of the sale, the executive vice president directly owned 28,406 shares in the company, valued at approximately $3,893,610.42. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in Cullen/Frost Bankers by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,293,964 shares of the bank’s stock worth $163,862,000 after purchasing an additional 106,558 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cullen/Frost Bankers by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank’s stock worth $155,059,000 after buying an additional 10,246 shares during the period. Bank of America Corp DE lifted its stake in shares of Cullen/Frost Bankers by 8.5% in the 3rd quarter. Bank of America Corp DE now owns 1,129,673 shares of the bank’s stock valued at $143,209,000 after acquiring an additional 88,080 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Cullen/Frost Bankers by 2.3% in the 3rd quarter. Northern Trust Corp now owns 965,821 shares of the bank’s stock valued at $122,437,000 after acquiring an additional 21,793 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in Cullen/Frost Bankers by 11.9% during the 3rd quarter. Impax Asset Management Group plc now owns 920,833 shares of the bank’s stock valued at $116,734,000 after acquiring an additional 97,955 shares during the period. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.