Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $135.00

Cullen/Frost Bankers (NYSE:CFR) had its target price increased by Barclays from $130.00 to $135.00 in a report published on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the bank’s stock.

A number of other research firms also recently weighed in on CFR. DA Davidson downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and upped their price target for the stock from $138.00 to $143.00 in a research note on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $144.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their price objective on Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Evercore ISI raised shares of Cullen/Frost Bankers from an “underperform” rating to an “in-line” rating and set a $132.00 target price on the stock in a research report on Friday. Finally, Morgan Stanley cut their price objective on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating on the stock in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $132.14.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $125.08 on Friday. The firm’s fifty day simple moving average is $119.84 and its two-hundred day simple moving average is $131.11. Cullen/Frost Bankers has a 12 month low of $94.09 and a 12 month high of $147.64. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $8.04 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 6.46 and a beta of 0.67.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, May 1st. The bank reported $2.30 EPS for the quarter, beating the consensus estimate of $2.17 by $0.13. The company had revenue of $560.42 million for the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. During the same quarter in the prior year, the company earned $2.15 EPS. As a group, analysts predict that Cullen/Frost Bankers will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $1.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $4.00 annualized dividend and a dividend yield of 3.20%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. Cullen/Frost Bankers’s payout ratio is 41.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Cullen/Frost Bankers by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank’s stock worth $855,884,000 after acquiring an additional 66,243 shares during the period. Boston Trust Walden Corp lifted its holdings in Cullen/Frost Bankers by 5.7% during the 1st quarter. Boston Trust Walden Corp now owns 1,112,477 shares of the bank’s stock worth $139,282,000 after purchasing an additional 60,187 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cullen/Frost Bankers by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,026,585 shares of the bank’s stock worth $137,823,000 after purchasing an additional 6,159 shares during the period. GAMMA Investing LLC boosted its stake in Cullen/Frost Bankers by 122,282.2% in the 1st quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank’s stock worth $125,949,000 after purchasing an additional 1,005,160 shares during the period. Finally, Northern Trust Corp increased its position in shares of Cullen/Frost Bankers by 33.7% during the fourth quarter. Northern Trust Corp now owns 973,576 shares of the bank’s stock valued at $130,703,000 after buying an additional 245,458 shares during the period. 86.90% of the stock is owned by institutional investors.

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.