Stephens Raises Cullen/Frost Bankers (NYSE:CFR) Price Target to $145.00

Cullen/Frost Bankers (NYSE:CFRGet Rating) had its price target upped by Stephens from $133.00 to $145.00 in a research report report published on Tuesday morning, Marketbeat Ratings reports. They currently have an equal weight rating on the bank’s stock.

CFR has been the subject of several other research reports. Raymond James lowered their price target on Cullen/Frost Bankers from $160.00 to $145.00 and set an outperform rating for the company in a research note on Thursday, July 7th. StockNews.com raised Cullen/Frost Bankers from a sell rating to a hold rating in a research note on Friday, July 29th. Jefferies Financial Group lowered their price target on Cullen/Frost Bankers from $156.00 to $124.00 in a research note on Monday, July 11th. Compass Point raised Cullen/Frost Bankers from a sell rating to a neutral rating and set a $128.00 price target for the company in a research note on Wednesday, July 13th. Finally, Truist Financial reduced their target price on Cullen/Frost Bankers from $149.00 to $134.00 in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cullen/Frost Bankers has an average rating of Hold and a consensus target price of $137.75.

Cullen/Frost Bankers Trading Up 3.0 %

NYSE:CFR opened at $131.57 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.65 and a quick ratio of 0.65. Cullen/Frost Bankers has a fifty-two week low of $106.66 and a fifty-two week high of $147.39. The stock’s 50-day moving average is $121.85 and its two-hundred day moving average is $131.34. The stock has a market cap of $8.44 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21.

Cullen/Frost Bankers (NYSE:CFRGet Rating) last released its earnings results on Thursday, July 28th. The bank reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. Cullen/Frost Bankers had a return on equity of 11.13% and a net margin of 29.19%. During the same quarter in the previous year, the firm posted $1.80 EPS. As a group, equities research analysts forecast that Cullen/Frost Bankers will post 8.04 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.75. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.64%. Cullen/Frost Bankers’s payout ratio is 46.08%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CFR. MQS Management LLC acquired a new position in shares of Cullen/Frost Bankers in the second quarter valued at $380,000. M&T Bank Corp raised its stake in shares of Cullen/Frost Bankers by 15.9% in the second quarter. M&T Bank Corp now owns 58,209 shares of the bank’s stock valued at $6,774,000 after purchasing an additional 7,990 shares in the last quarter. Riverwater Partners LLC raised its stake in shares of Cullen/Frost Bankers by 8.4% in the second quarter. Riverwater Partners LLC now owns 10,473 shares of the bank’s stock valued at $1,220,000 after purchasing an additional 816 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Cullen/Frost Bankers by 120.7% in the second quarter. Illinois Municipal Retirement Fund now owns 5,086 shares of the bank’s stock valued at $592,000 after purchasing an additional 2,782 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Cullen/Frost Bankers in the second quarter valued at $4,766,000. 81.69% of the stock is currently owned by institutional investors and hedge funds.

About Cullen/Frost Bankers

(Get Rating)

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

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