Morgan Stanley Issues Positive Forecast for Cullen/Frost Bankers (NYSE:CFR) Stock Price

Cullen/Frost Bankers (NYSE:CFR) had its price objective increased by Morgan Stanley from $125.00 to $136.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an underweight rating on the bank’s stock.

Several other brokerages have also issued reports on CFR. Raymond James Financial dropped their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, August 4th. Cantor Fitzgerald initiated coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, September 10th. They set a “neutral” rating and a $138.00 target price on the stock. TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a research note on Thursday, September 25th. Finally, Barclays reduced their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $136.92.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $127.19 on Monday. The business has a 50 day moving average of $128.26 and a 200-day moving average of $125.76. The company has a market capitalization of $8.18 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.70 and a beta of 0.74. Cullen/Frost Bankers has a 1 year low of $100.31 and a 1 year high of $147.64. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.11. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.The business had revenue of $567.83 million during the quarter, compared to the consensus estimate of $552.04 million. During the same period in the prior year, the business posted $2.21 earnings per share. On average, equities research analysts predict that Cullen/Frost Bankers will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, August 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 43.06%.

Hedge Funds Weigh In On Cullen/Frost Bankers

Institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC increased its holdings in Cullen/Frost Bankers by 17.7% during the second quarter. Corient Private Wealth LLC now owns 16,889 shares of the bank’s stock worth $2,171,000 after buying an additional 2,542 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of Cullen/Frost Bankers by 128.4% during the 2nd quarter. Osaic Holdings Inc. now owns 5,928 shares of the bank’s stock valued at $756,000 after acquiring an additional 3,333 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth approximately $2,510,000. Geneos Wealth Management Inc. raised its holdings in shares of Cullen/Frost Bankers by 38.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 507 shares of the bank’s stock worth $65,000 after purchasing an additional 141 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Cullen/Frost Bankers by 1.6% in the 2nd quarter. Westwood Holdings Group Inc. now owns 439,893 shares of the bank’s stock worth $56,544,000 after purchasing an additional 6,946 shares during the period. 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.