Cullen/Frost Bankers (NYSE:CFR) Given New $122.00 Price Target at Compass Point

Cullen/Frost Bankers (NYSE:CFR - Free Report) had its price target raised by Compass Point from $111.00 to $122.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Compass Point currently has a neutral rating on the bank's stock.

Several other analysts have also recently weighed in on the stock. Stephens boosted their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Friday. DA Davidson boosted their price objective on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Wedbush reduced their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 24th. Maxim Group boosted their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Morgan Stanley reduced their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating on the stock in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $123.86.

Cullen/Frost Bankers Price Performance

CFR traded up $2.73 during trading on Tuesday, hitting $127.64. 454,184 shares of the stock traded hands, compared to its average volume of 452,056. Cullen/Frost Bankers has a twelve month low of $91.24 and a twelve month high of $135.00. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50 day moving average price of $115.88 and a 200 day moving average price of $109.13.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. The business had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.38 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers will post 8.61 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.98%. Cullen/Frost Bankers's dividend payout ratio is currently 47.15%.

Insider Activity

In related news, EVP Bobby Berman sold 3,506 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares in the company, valued at $3,367,550.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of institutional investors and hedge funds have recently made changes to their positions in CFR. Champlain Investment Partners LLC increased its stake in Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank's stock valued at $359,378,000 after buying an additional 495,215 shares during the last quarter. Janus Henderson Group PLC increased its stake in Cullen/Frost Bankers by 18.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank's stock valued at $114,994,000 after buying an additional 161,580 shares during the last quarter. Boston Trust Walden Corp purchased a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $107,166,000. Dimensional Fund Advisors LP increased its stake in Cullen/Frost Bankers by 14.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank's stock valued at $96,856,000 after buying an additional 120,333 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Cullen/Frost Bankers by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank's stock valued at $90,185,000 after buying an additional 25,909 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.