Cullen/Frost Bankers (NYSE:CFR) Given New $113.00 Price Target at Evercore ISI

Cullen/Frost Bankers (NYSE:CFR) had its price target boosted by Evercore ISI from $109.00 to $113.00 in a report issued on Thursday, Benzinga reports. Evercore ISI currently has an underperform rating on the bank’s stock.

A number of other research firms have also recently issued reports on CFR. Royal Bank of Canada reissued a sector perform rating and issued a $118.00 price target on shares of Cullen/Frost Bankers in a research note on Friday, January 26th. Morgan Stanley lifted their price target on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. UBS Group lifted their price target on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a neutral rating in a research note on Monday, January 29th. Compass Point lowered Cullen/Frost Bankers from a buy rating to a neutral rating in a report on Monday, January 8th. Finally, Citigroup assumed coverage on Cullen/Frost Bankers in a report on Friday, December 1st. They issued a sell rating and a $94.00 price objective on the stock. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers currently has an average rating of Hold and a consensus price target of $113.92.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $112.63 on Thursday. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.38 and a beta of 1.03. Cullen/Frost Bankers has a 12 month low of $82.25 and a 12 month high of $120.31. The firm’s 50 day simple moving average is $107.21 and its 200-day simple moving average is $101.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.63 and a quick ratio of 0.63.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.17. The business had revenue of $523.66 million for the quarter, compared to analysts’ expectations of $498.09 million. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. Analysts expect that Cullen/Frost Bankers will post 8.47 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.68 annualized dividend and a dividend yield of 3.27%. Cullen/Frost Bankers’s dividend payout ratio is presently 40.44%.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the transaction, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the transaction, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at approximately $10,543,972. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Institutional Trading of Cullen/Frost Bankers

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd raised its holdings in Cullen/Frost Bankers by 32.7% in the 4th quarter. Quadrature Capital Ltd now owns 12,855 shares of the bank’s stock valued at $1,395,000 after buying an additional 3,168 shares during the period. Vanguard Group Inc. raised its holdings in Cullen/Frost Bankers by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock valued at $695,729,000 after buying an additional 19,755 shares during the period. ICA Group Wealth Management LLC purchased a new stake in Cullen/Frost Bankers in the 4th quarter valued at about $33,000. Goldman Sachs Group Inc. raised its holdings in Cullen/Frost Bankers by 44.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after buying an additional 244,197 shares during the period. Finally, Beacon Financial Group raised its holdings in Cullen/Frost Bankers by 14.7% in the 4th quarter. Beacon Financial Group now owns 4,581 shares of the bank’s stock valued at $497,000 after buying an additional 588 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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.