Cullen/Frost Bankers (NYSE:CFR - Get Free Report) had its price target hoisted by Citigroup from $104.00 to $113.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "sell" rating on the bank's stock. Citigroup's price target would suggest a potential downside of 9.53% from the stock's current price.
Other equities research analysts have also issued research reports about the company. DA Davidson lifted their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Evercore ISI decreased their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating for the company in a report on Wednesday, October 2nd. Maxim Group lifted their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a "buy" rating in a report on Friday. Royal Bank of Canada lifted their price objective on Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a "sector perform" rating in a report on Friday. Finally, Truist Financial cut their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating for the company in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Cullen/Frost Bankers has a consensus rating of "Hold" and a consensus price target of $124.00.
Check Out Our Latest Analysis on Cullen/Frost Bankers
Cullen/Frost Bankers Stock Down 0.8 %
NYSE:CFR traded down $1.07 during trading hours on Monday, hitting $124.91. 553,682 shares of the company traded hands, compared to its average volume of 452,046. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The firm's 50-day simple moving average is $115.61 and its 200-day simple moving average is $109.02. Cullen/Frost Bankers has a one year low of $91.24 and a one year high of $135.00. The company has a market cap of $8.00 billion, a PE ratio of 15.52, a PEG ratio of 1.56 and a beta of 0.98.
Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 16.34% and a net margin of 23.98%. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same period last year, the firm posted $2.38 EPS. The business's revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Cullen/Frost Bankers will post 8.57 earnings per share for the current year.
Insider Activity
In other news, EVP Bobby Berman sold 3,506 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares of the company's stock, valued at approximately $3,367,550.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.89% of the company's stock.
Institutional Investors Weigh In On Cullen/Frost Bankers
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in Cullen/Frost Bankers in the third quarter worth $3,999,000. Crossmark Global Holdings Inc. boosted its holdings in Cullen/Frost Bankers by 40.2% in the third quarter. Crossmark Global Holdings Inc. now owns 5,095 shares of the bank's stock worth $570,000 after acquiring an additional 1,462 shares in the last quarter. Covestor Ltd boosted its holdings in Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank's stock worth $25,000 after acquiring an additional 141 shares in the last quarter. Atria Investments Inc boosted its holdings in Cullen/Frost Bankers by 5.2% in the third quarter. Atria Investments Inc now owns 17,064 shares of the bank's stock worth $1,909,000 after acquiring an additional 840 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Cullen/Frost Bankers in the third quarter worth $52,000. 86.90% of the stock is owned by hedge funds and other institutional investors.
Cullen/Frost Bankers Company Profile
(
Get Free Report)
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.
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