Barclays PLC Trims Cullen/Frost Bankers Inc. (CFR) Target Price to $69.00
Cullen/Frost Bankers Inc. (NYSE:CFR) had its price objective decreased by equities research analysts at Barclays PLC from $72.00 to $69.00 in a report issued on Tuesday. The firm presently has an “underweight” rating on the stock. Barclays PLC’s price target points to a potential downside of 5.58% from the company’s previous close.
A number of other equities analysts have also issued reports on CFR. Zacks Investment Research lowered shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Vetr lowered shares of Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price objective on the stock. in a report on Tuesday, June 28th. JPMorgan Chase & Co. increased their price objective on shares of Cullen/Frost Bankers from $55.00 to $58.00 and gave the company an “underweight” rating in a report on Thursday, July 7th. Royal Bank Of Canada increased their price objective on shares of Cullen/Frost Bankers from $63.00 to $70.00 and gave the company a “sector perform” rating in a report on Thursday, July 28th. Finally, Maxim Group increased their price objective on shares of Cullen/Frost Bankers from $70.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $67.83.
Shares of Cullen/Frost Bankers (NYSE:CFR) traded down 1.23% during midday trading on Tuesday, hitting $72.18. 179,851 shares of the company’s stock were exchanged. Cullen/Frost Bankers has a 52 week low of $42.41 and a 52 week high of $74.12. The company has a 50-day moving average of $71.21 and a 200-day moving average of $65.48. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 17.06 and a beta of 1.11.
Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a net margin of 24.81% and a return on equity of 9.67%. During the same quarter last year, the business earned $1.11 EPS. Equities research analysts expect that Cullen/Frost Bankers will post $4.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Monday, August 29th. Cullen/Frost Bankers’s payout ratio is 50.82%.
In related news, Chairman Phillip D. Green sold 13,500 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $69.42, for a total transaction of $937,170.00. Following the completion of the transaction, the chairman now owns 49,763 shares in the company, valued at $3,454,547.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick B. Frost sold 10,500 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $67.73, for a total transaction of $711,165.00. Following the transaction, the insider now owns 160,147 shares of the company’s stock, valued at approximately $10,846,756.31. The disclosure for this sale can be found here. Corporate insiders own 8.03% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. boosted its position in shares of Cullen/Frost Bankers by 5.3% in the first quarter. Bessemer Group Inc. now owns 2,033 shares of the company’s stock valued at $112,000 after buying an additional 103 shares during the last quarter. Creative Planning boosted its position in shares of Cullen/Frost Bankers by 112.3% in the second quarter. Creative Planning now owns 3,132 shares of the company’s stock valued at $200,000 after buying an additional 1,657 shares during the last quarter. Rench Wealth Management Inc. acquired a new position in shares of Cullen/Frost Bankers during the second quarter valued at approximately $204,000. LS Investment Advisors LLC boosted its position in shares of Cullen/Frost Bankers by 72.2% in the second quarter. LS Investment Advisors LLC now owns 3,267 shares of the company’s stock valued at $208,000 after buying an additional 1,370 shares during the last quarter. Finally, Fruth Investment Management acquired a new position in shares of Cullen/Frost Bankers during the second quarter valued at approximately $216,000. Institutional investors and hedge funds own 84.76% of the company’s stock.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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