Cullen/Frost Bankers (NYSE:CFR) Given New $155.00 Price Target at Barclays

Cullen/Frost Bankers (NYSE:CFR) had its price objective boosted by Barclays from $150.00 to $155.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the bank’s stock.

A number of other research analysts also recently commented on CFR. Keefe, Bruyette & Woods boosted their price objective on shares of Cullen/Frost Bankers from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. TD Cowen reaffirmed a “positive” rating on shares of Cullen/Frost Bankers in a research report on Monday, February 2nd. DA Davidson lifted their target price on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Loop Capital set a $160.00 target price on shares of Cullen/Frost Bankers in a research note on Monday, February 2nd. Finally, Weiss Ratings upgraded shares of Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $142.25.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $140.22 on Tuesday. The company’s 50 day moving average price is $138.86 and its 200 day moving average price is $131.68. Cullen/Frost Bankers has a 52 week low of $101.76 and a 52 week high of $148.97. The company has a market capitalization of $8.83 billion, a PE ratio of 14.14, a PEG ratio of 5.08 and a beta of 0.61. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.67 and a current ratio of 0.67.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.09. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $578.05 million. During the same period in the previous year, the firm posted $2.36 earnings per share. Research analysts expect that Cullen/Frost Bankers will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, February 27th. Cullen/Frost Bankers’s dividend payout ratio is currently 40.32%.

Insider Activity

In related news, EVP Bobby Berman sold 1,000 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $137.07, for a total transaction of $137,070.00. Following the completion of the sale, the executive vice president directly owned 28,406 shares of the company’s stock, valued at approximately $3,893,610.42. This represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several large investors have recently bought and sold shares of CFR. Norges Bank acquired a new position in Cullen/Frost Bankers during the 4th quarter valued at $92,904,000. Two Sigma Investments LP raised its stake in shares of Cullen/Frost Bankers by 2,024.4% in the 3rd quarter. Two Sigma Investments LP now owns 373,977 shares of the bank’s stock valued at $47,409,000 after buying an additional 356,373 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cullen/Frost Bankers by 16,676.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 353,470 shares of the bank’s stock valued at $44,760,000 after buying an additional 351,363 shares in the last quarter. Fiera Capital Corp acquired a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at $29,769,000. Finally, Millennium Management LLC acquired a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at $29,687,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.