Cullen/Frost Bankers (NYSE:CFR) Given New $141.00 Price Target at Morgan Stanley

Cullen/Frost Bankers (NYSE:CFR) had its price target lifted by stock analysts at Morgan Stanley from $133.00 to $141.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. Morgan Stanley’s price target suggests a potential downside of 8.73% from the company’s previous close.

Several other brokerages have also recently issued reports on CFR. Royal Bank Of Canada raised their target price on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Citigroup raised their price objective on shares of Cullen/Frost Bankers from $125.00 to $131.00 and gave the stock a “sell” rating in a research report on Thursday, May 7th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Cullen/Frost Bankers in a research report on Monday, June 1st. Barclays boosted their price target on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings upgraded shares of Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $149.45.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock traded down $0.81 during trading hours on Monday, reaching $154.50. 154,068 shares of the company traded hands, compared to its average volume of 565,790. The company has a market cap of $9.70 billion, a P/E ratio of 15.04, a P/E/G ratio of 3.91 and a beta of 0.55. Cullen/Frost Bankers has a 12-month low of $119.00 and a 12-month high of $156.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a 50-day moving average price of $141.73 and a 200 day moving average price of $138.47.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. The company had revenue of $574.84 million for the quarter, compared to analyst estimates of $587.28 million. During the same period in the prior year, the company posted $2.30 EPS. As a group, sell-side analysts predict that Cullen/Frost Bankers will post 10.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Carol Jean Severyn sold 837 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $148.29, for a total value of $124,118.73. Following the sale, the executive vice president directly owned 12,712 shares in the company, valued at $1,885,062.48. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.14% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently modified their holdings of CFR. Norges Bank acquired a new position in Cullen/Frost Bankers in the 4th quarter valued at $92,904,000. Two Sigma Investments LP boosted its position in Cullen/Frost Bankers by 2,024.4% during the 3rd quarter. Two Sigma Investments LP now owns 373,977 shares of the bank’s stock worth $47,409,000 after purchasing an additional 356,373 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Cullen/Frost Bankers by 16,676.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 353,470 shares of the bank’s stock worth $44,760,000 after acquiring an additional 351,363 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cullen/Frost Bankers by 18.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock valued at $209,833,000 after purchasing an additional 236,808 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the third quarter worth about $29,687,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

About Cullen/Frost Bankers

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.