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

Cullen/Frost Bankers (NYSE:CFR) had its price objective upped by Citigroup from $104.00 to $113.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a sell rating on the bank’s stock.

Other equities research analysts also recently issued research reports about the company. Evercore ISI cut their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Stephens lifted their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. DA Davidson upped their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Truist Financial reduced their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a report on Friday, September 20th. Finally, Morgan Stanley dropped their price target on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $123.86.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $138.05 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a 50-day moving average of $117.36 and a 200-day moving average of $109.68. The company has a market cap of $8.85 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. Cullen/Frost Bankers has a one year low of $91.24 and a one year high of $144.19.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. During the same quarter in the previous year, the business earned $2.38 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Cullen/Frost Bankers will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the sale, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CFR. Covestor Ltd boosted its position in Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after buying an additional 141 shares during the period. Asset Dedication LLC boosted its holdings in Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after acquiring an additional 105 shares during the last quarter. Whittier Trust Co. increased its position in shares of Cullen/Frost Bankers by 90.7% during the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after buying an additional 186 shares during the period. Allworth Financial LP grew its holdings in Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after acquiring an additional 239 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Cullen/Frost Bankers during the third quarter worth approximately $52,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.