Cullen/Frost Bankers (NYSE:CFR) Given New $115.00 Price Target at Truist Financial

Cullen/Frost Bankers (NYSE:CFR) had its target price reduced by Truist Financial from $121.00 to $115.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a hold rating on the bank’s stock.

Other research analysts have also issued reports about the company. Compass Point lowered Cullen/Frost Bankers from a buy rating to a neutral rating in a research report on Monday, January 8th. Evercore ISI boosted their price objective on Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an underperform rating in a report on Thursday, March 28th. UBS Group boosted their price objective on Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a neutral rating in a report on Monday, January 29th. Jefferies Financial Group boosted their price objective on Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a hold rating in a report on Monday, April 8th. Finally, Stephens boosted their price objective on Cullen/Frost Bankers from $116.00 to $117.00 and gave the stock an equal weight rating in a report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $117.46.

Cullen/Frost Bankers Stock Up 1.1 %

Shares of CFR opened at $106.45 on Monday. The company has a market capitalization of $6.84 billion, a PE ratio of 12.58, a PEG ratio of 1.30 and a beta of 1.04. Cullen/Frost Bankers has a 12 month low of $82.25 and a 12 month high of $120.31. The stock’s 50-day moving average price is $108.97 and its two-hundred day moving average price is $104.21. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. During the same period last year, the firm posted $2.70 earnings per share. On average, analysts anticipate that Cullen/Frost Bankers will post 8.46 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.92 dividend. The ex-dividend date is Friday, May 31st. This represents a $3.68 annualized dividend and a yield of 3.46%. Cullen/Frost Bankers’s payout ratio is 43.50%.

Insider Activity at Cullen/Frost Bankers

In related news, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at $10,543,972. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the sale, the executive vice president now owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the sale, the insider now directly owns 96,380 shares in the company, valued at approximately $10,543,972. The disclosure for this sale can be found here. 2.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds and other institutional investors have recently bought and sold shares of the business. Anchor Investment Management LLC bought a new stake in Cullen/Frost Bankers during the 4th quarter valued at $1,069,000. Hsbc Holdings PLC bought a new position in shares of Cullen/Frost Bankers in the third quarter worth $1,302,000. Raymond James & Associates increased its holdings in shares of Cullen/Frost Bankers by 15.1% in the third quarter. Raymond James & Associates now owns 203,802 shares of the bank’s stock worth $18,589,000 after purchasing an additional 26,670 shares during the period. Aigen Investment Management LP bought a new position in shares of Cullen/Frost Bankers in the third quarter worth $530,000. Finally, Bryn Mawr Capital Management LLC bought a new position in shares of Cullen/Frost Bankers in the fourth quarter worth $1,042,000. 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.