Cullen/Frost Bankers (NYSE:CFR) Given New $150.00 Price Target at Truist Financial

Cullen/Frost Bankers (NYSE:CFRGet Rating) had its price target lifted by Truist Financial from $140.00 to $150.00 in a report issued on Wednesday, The Fly reports. They currently have a hold rating on the bank’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Wedbush upgraded shares of Cullen/Frost Bankers to a neutral rating in a report on Tuesday, August 9th. Wolfe Research cut their price objective on shares of Cullen/Frost Bankers from $161.00 to $132.00 and set an outperform rating on the stock in a report on Thursday, May 26th. Compass Point upgraded shares of Cullen/Frost Bankers from a neutral rating to a buy rating and set a $152.00 price objective on the stock in a report on Monday, August 15th. StockNews.com upgraded shares of Cullen/Frost Bankers from a sell rating to a hold rating in a research note on Friday, July 29th. Finally, Jefferies Financial Group dropped their target price on shares of Cullen/Frost Bankers from $156.00 to $124.00 in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers currently has an average rating of Hold and a consensus target price of $141.08.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $141.31 on Wednesday. Cullen/Frost Bankers has a 1 year low of $106.66 and a 1 year high of $147.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50-day moving average is $130.49 and its 200 day moving average is $130.53. The stock has a market capitalization of $9.06 billion, a P/E ratio of 21.71, a P/E/G ratio of 1.84 and a beta of 1.19.

Cullen/Frost Bankers (NYSE:CFRGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The bank reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Cullen/Frost Bankers had a net margin of 29.19% and a return on equity of 11.13%. During the same quarter in the previous year, the company earned $1.80 EPS. On average, sell-side analysts expect that Cullen/Frost Bankers will post 8.09 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a dividend of $0.87 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.75. The ex-dividend date is Tuesday, August 30th. This represents a $3.48 dividend on an annualized basis and a yield of 2.46%. Cullen/Frost Bankers’s dividend payout ratio is 53.46%.

Insider Activity at Cullen/Frost Bankers

In related news, CFO Jerry Salinas sold 12,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $134.03, for a total transaction of $1,608,360.00. Following the transaction, the chief financial officer now owns 27,792 shares in the company, valued at $3,724,961.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cullen/Frost Bankers news, insider Patrick B. Frost sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $128.19, for a total transaction of $2,307,420.00. Following the completion of the sale, the insider now directly owns 206,676 shares of the company’s stock, valued at $26,493,796.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jerry Salinas sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $134.03, for a total transaction of $1,608,360.00. Following the sale, the chief financial officer now directly owns 27,792 shares of the company’s stock, valued at $3,724,961.76. The disclosure for this sale can be found here. 3.76% of the stock is owned by insiders.

Institutional Trading of Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CFR. UMB Bank N A MO purchased a new stake in Cullen/Frost Bankers during the fourth quarter valued at approximately $25,000. HighTower Advisors LLC increased its holdings in Cullen/Frost Bankers by 4.6% during the fourth quarter. HighTower Advisors LLC now owns 9,397 shares of the bank’s stock valued at $1,181,000 after buying an additional 413 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Cullen/Frost Bankers by 20.8% in the fourth quarter. Teacher Retirement System of Texas now owns 11,684 shares of the bank’s stock worth $1,473,000 after purchasing an additional 2,014 shares in the last quarter. Citigroup Inc. increased its stake in shares of Cullen/Frost Bankers by 0.9% in the fourth quarter. Citigroup Inc. now owns 27,537 shares of the bank’s stock worth $3,472,000 after purchasing an additional 237 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Cullen/Frost Bankers by 0.3% in the fourth quarter. Rhumbline Advisers now owns 148,827 shares of the bank’s stock worth $18,763,000 after purchasing an additional 401 shares in the last quarter. 78.85% of the stock is owned by hedge funds and other institutional investors.

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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