Cullen/Frost Bankers (NYSE:CFR) Price Target Lowered to $115.00 at Truist Financial

Cullen/Frost Bankers (NYSE:CFR) had its price objective decreased by Truist Financial from $121.00 to $115.00 in a research report report published on Monday, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Several other research analysts have also weighed in on CFR. Stephens lifted their price objective on Cullen/Frost Bankers from $116.00 to $117.00 and gave the stock an equal weight rating in a research report on Friday, January 26th. Royal Bank of Canada reissued a sector perform rating and issued a $118.00 price objective on shares of Cullen/Frost Bankers in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods lowered their price objective on Cullen/Frost Bankers from $125.00 to $118.00 and set a market perform rating for the company in a research report on Friday, January 26th. UBS Group boosted their target price on Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a neutral rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. boosted their target price on Cullen/Frost Bankers from $135.00 to $140.00 and gave the company an overweight rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of Hold and an average target price of $117.46.

Cullen/Frost Bankers Stock Performance

CFR stock opened at $105.38 on Monday. The stock has a 50-day moving average price of $109.11 and a 200-day moving average price of $104.08. Cullen/Frost Bankers has a 1-year low of $82.25 and a 1-year high of $120.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The firm has a market cap of $6.77 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. During the same period last year, the firm posted $2.70 earnings per share. As a group, equities research analysts expect that Cullen/Frost Bankers will post 8.46 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a yield of 3.49%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 43.50%.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Bobby Berman sold 1,312 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Cullen/Frost Bankers by 40.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank’s stock worth $155,000 after buying an additional 395 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Cullen/Frost Bankers by 0.3% in the first quarter. Commonwealth Equity Services LLC now owns 49,766 shares of the bank’s stock valued at $5,602,000 after purchasing an additional 157 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Cullen/Frost Bankers by 1.6% in the first quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock valued at $92,432,000 after purchasing an additional 12,897 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Cullen/Frost Bankers by 18.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,007 shares of the bank’s stock valued at $114,000 after purchasing an additional 155 shares during the period. Finally, Groesbeck Investment Management Corp NJ bought a new position in Cullen/Frost Bankers during the first quarter valued at $1,000,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.