Cullen/Frost Bankers (NYSE:CFR) Price Target Raised to $131.00 at Citigroup

Cullen/Frost Bankers (NYSE:CFR) had its target price raised by Citigroup from $125.00 to $131.00 in a report released on Thursday,Benzinga reports. They currently have a sell rating on the bank’s stock.

CFR has been the subject of a number of other research reports. Stephens upgraded Cullen/Frost Bankers from an “equal weight” rating to an “overweight” rating and set a $164.00 target price for the company in a report on Tuesday. Keefe, Bruyette & Woods increased their target price on shares of Cullen/Frost Bankers from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Morgan Stanley decreased their price target on shares of Cullen/Frost Bankers from $143.00 to $133.00 and set an “underweight” rating for the company in a report on Tuesday, March 31st. Loop Capital set a $160.00 target price on shares of Cullen/Frost Bankers in a research note on Monday, February 2nd. Finally, TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $145.08.

Cullen/Frost Bankers Stock Performance

Shares of NYSE:CFR traded up $0.26 during trading on Thursday, hitting $138.82. 42,203 shares of the company traded hands, compared to its average volume of 545,359. The stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 3.59 and a beta of 0.58. The business’s fifty day moving average is $138.77 and its 200-day moving average is $134.02. Cullen/Frost Bankers has a one year low of $119.00 and a one year high of $148.97. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, beating the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $587.29 million. During the same period in the prior year, the company earned $2.30 earnings per share. As a group, equities analysts predict that Cullen/Frost Bankers will post 10.41 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $1.03 dividend. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, May 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 40.12%.

Institutional Trading of Cullen/Frost Bankers

A number of institutional investors have recently bought and sold shares of CFR. Dimensional Fund Advisors LP boosted its position in shares of Cullen/Frost Bankers by 18.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after purchasing an additional 236,808 shares in the last quarter. Crescent Grove Advisors LLC acquired a new position in shares of Cullen/Frost Bankers during the 1st quarter worth about $3,422,000. California Public Employees Retirement System grew its stake in Cullen/Frost Bankers by 9.6% in the 1st quarter. California Public Employees Retirement System now owns 115,157 shares of the bank’s stock valued at $15,786,000 after buying an additional 10,070 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Cullen/Frost Bankers by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 543,468 shares of the bank’s stock valued at $74,499,000 after purchasing an additional 3,755 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in Cullen/Frost Bankers by 14.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 8,942 shares of the bank’s stock valued at $1,226,000 after purchasing an additional 1,127 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.