Analysts Set Cullen/Frost Bankers, Inc. (CFR) Price Target at $94.05
Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) have received an average rating of “Hold” from the nineteen research firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $94.05.
Several equities research analysts have issued reports on CFR shares. Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research report on Friday, July 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $93.00 price objective (up previously from $90.00) on shares of Cullen/Frost Bankers in a research report on Thursday, July 6th. BidaskClub downgraded Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Barclays PLC set a $97.00 price objective on Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Sunday, July 30th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, July 14th.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beacon Financial Group increased its stake in Cullen/Frost Bankers by 0.6% in the third quarter. Beacon Financial Group now owns 91,822 shares of the bank’s stock valued at $8,716,000 after acquiring an additional 564 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Cullen/Frost Bankers in the second quarter valued at $3,371,000. WFG Advisors LP increased its stake in Cullen/Frost Bankers by 33.4% in the second quarter. WFG Advisors LP now owns 24,392 shares of the bank’s stock valued at $2,291,000 after acquiring an additional 6,108 shares during the last quarter. Cookson Peirce & Co. Inc. increased its stake in Cullen/Frost Bankers by 2.6% in the second quarter. Cookson Peirce & Co. Inc. now owns 118,735 shares of the bank’s stock valued at $11,150,000 after acquiring an additional 3,060 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Cullen/Frost Bankers in the second quarter valued at $589,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cullen/Frost Bankers (NYSE:CFR) traded up 0.83% during trading on Friday, hitting $94.89. The stock had a trading volume of 240,134 shares. The firm’s 50 day moving average is $88.21 and its 200 day moving average is $91.06. Cullen/Frost Bankers has a 1-year low of $69.86 and a 1-year high of $99.20. The company has a market cap of $6.09 billion, a PE ratio of 18.69 and a beta of 1.35.
Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.29. The firm had revenue of $295.87 million for the quarter, compared to the consensus estimate of $316.40 million. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. During the same quarter in the prior year, the business posted $1.11 earnings per share. Equities research analysts anticipate that Cullen/Frost Bankers will post $5.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.57 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $2.28 dividend on an annualized basis and a yield of 2.40%. Cullen/Frost Bankers’s dividend payout ratio is presently 44.79%.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
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