Cullen/Frost Bankers (NYSE:CFR – Free Report) had its target price raised by Barclays from $160.00 to $175.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the bank’s stock.
CFR has been the subject of a number of other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 15th. Citigroup lifted their target price on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Zacks Research lowered shares of Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Keefe, Bruyette & Woods increased their price target on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Morgan Stanley increased their price target on shares of Cullen/Frost Bankers from $200.00 to $201.00 and gave the company an “overweight” rating in a research report on Monday, September 28th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $170.18.
Check Out Our Latest Stock Report on Cullen/Frost Bankers
Cullen/Frost Bankers Stock Performance
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, topping the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.The firm had revenue of $576.01 million for the quarter, compared to the consensus estimate of $589.72 million. During the same quarter in the previous year, the business earned $2.39 earnings per share. Research analysts expect that Cullen/Frost Bankers will post 10.94 EPS for the current year.
Cullen/Frost Bankers Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 31st. Cullen/Frost Bankers’s payout ratio is presently 38.94%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in CFR. Symphony Financial Ltd. Co. grew its position in shares of Cullen/Frost Bankers by 2.2% in the second quarter. Symphony Financial Ltd. Co. now owns 3,482 shares of the bank’s stock valued at $539,000 after purchasing an additional 75 shares during the last quarter. Evolve Private Wealth LLC lifted its holdings in Cullen/Frost Bankers by 6.0% in the 1st quarter. Evolve Private Wealth LLC now owns 1,726 shares of the bank’s stock valued at $237,000 after purchasing an additional 98 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Cullen/Frost Bankers by 0.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,921 shares of the bank’s stock valued at $1,771,000 after purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Cullen/Frost Bankers by 0.7% during the 1st quarter. State of Michigan Retirement System now owns 15,164 shares of the bank’s stock worth $2,079,000 after purchasing an additional 100 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Cullen/Frost Bankers by 17.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 704 shares of the bank’s stock worth $97,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas, and the parent company of Frost Bank. Through Frost, the company provides banking, investment, and financial services to individuals, businesses, and institutions.
Frost Bank offers personal and business deposit accounts, consumer and commercial lending, treasury management, payment services, and other banking products. Its wealth management operations provide trust, investment management, and financial planning services, while the company also offers services related to insurance and investment banking.
Founded in 1868 by Thomas Claiborne Frost, the company has a long history of serving Texas markets.
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