Morgan Stanley Trims Cullen/Frost Bankers (NYSE:CFR) Target Price to $117.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective lowered by stock analysts at Morgan Stanley from $121.00 to $117.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Morgan Stanley’s target price would indicate a potential upside of 3.95% from the company’s previous close.

Several other research analysts have also recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. DA Davidson upped their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Wedbush decreased their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Royal Bank of Canada upped their target price on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group decreased their target price on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $119.36.

Cullen/Frost Bankers Stock Performance

Shares of NYSE:CFR traded up $1.36 during trading on Monday, reaching $112.55. 58,171 shares of the company’s stock traded hands, compared to its average volume of 442,631. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers has a 12 month low of $82.25 and a 12 month high of $123.17. The company has a 50 day moving average of $110.78 and a 200-day moving average of $106.98. The stock has a market capitalization of $7.21 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.36 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The business had revenue of $528.81 million during the quarter, compared to the consensus estimate of $506.83 million. During the same quarter in the prior year, the firm earned $2.47 EPS. On average, equities analysts expect that Cullen/Frost Bankers will post 8.62 EPS for the current year.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the sale, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the sale, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The disclosure for this sale can be found here. Company insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds have recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers in the 4th quarter valued at approximately $33,000. CWM LLC lifted its position in Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after buying an additional 106 shares in the last quarter. Whittier Trust Co. lifted its position in Cullen/Frost Bankers by 90.7% in the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after buying an additional 186 shares in the last quarter. Parallel Advisors LLC lifted its position in Cullen/Frost Bankers by 89.7% in the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock worth $50,000 after buying an additional 218 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth $54,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

About Cullen/Frost Bankers

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.