Deutsche Bank AG Raises Cullen/Frost Bankers Inc. (CFR) Price Target to $77.00
Cullen/Frost Bankers Inc. (NYSE:CFR) had its target price boosted by research analysts at Deutsche Bank AG from $66.00 to $77.00 in a research note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the stock. Deutsche Bank AG’s price objective would suggest a potential upside of 5.36% from the stock’s previous close.
Other analysts have also issued research reports about the company. Royal Bank Of Canada raised their price target on Cullen/Frost Bankers from $63.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 28th. Barclays PLC raised their price target on Cullen/Frost Bankers from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Thursday, July 28th. Maxim Group raised their price target on Cullen/Frost Bankers from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $70.00 price target (up previously from $63.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 28th. Finally, Zacks Investment Research lowered Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $67.83.
Shares of Cullen/Frost Bankers (NYSE:CFR) traded down 1.23% during trading on Tuesday, hitting $72.18. 179,851 shares of the company were exchanged. Cullen/Frost Bankers has a 1-year low of $42.41 and a 1-year high of $74.12. The stock has a market capitalization of $4.48 billion, a PE ratio of 17.06 and a beta of 1.11. The company has a 50 day moving average of $71.21 and a 200-day moving average of $65.48.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.06. Cullen/Frost Bankers had a return on equity of 9.67% and a net margin of 24.81%. During the same period last year, the business earned $1.11 earnings per share. On average, analysts forecast that Cullen/Frost Bankers will post $4.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.54 dividend. The ex-dividend date was Monday, August 29th. This represents a $2.16 annualized dividend and a yield of 2.96%. Cullen/Frost Bankers’s payout ratio is 50.82%.
In other Cullen/Frost Bankers news, insider Patrick B. Frost sold 10,500 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $67.73, for a total transaction of $711,165.00. Following the completion of the sale, the insider now directly owns 160,147 shares in the company, valued at approximately $10,846,756.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard Kardys sold 25,500 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $69.54, for a total value of $1,773,270.00. Following the sale, the insider now owns 128,078 shares of the company’s stock, valued at $8,906,544.12. The disclosure for this sale can be found here. 8.03% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Bradley Foster & Sargent Inc. CT increased its stake in Cullen/Frost Bankers by 0.3% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 7,785 shares of the company’s stock worth $496,000 after buying an additional 25 shares in the last quarter. State Treasurer State of Michigan increased its stake in Cullen/Frost Bankers by 0.5% in the second quarter. State Treasurer State of Michigan now owns 21,900 shares of the company’s stock worth $1,396,000 after buying an additional 100 shares in the last quarter. Bessemer Group Inc. increased its stake in Cullen/Frost Bankers by 5.3% in the first quarter. Bessemer Group Inc. now owns 2,033 shares of the company’s stock worth $112,000 after buying an additional 103 shares in the last quarter. First Manhattan Co. increased its stake in Cullen/Frost Bankers by 0.3% in the second quarter. First Manhattan Co. now owns 64,353 shares of the company’s stock worth $4,101,000 after buying an additional 200 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Cullen/Frost Bankers by 2.5% in the second quarter. Oppenheimer & Co. Inc. now owns 9,685 shares of the company’s stock worth $617,000 after buying an additional 240 shares in the last quarter. 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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