Cullen/Frost Bankers (NYSE:CFR) Price Target Lowered to $123.00 at Wedbush

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) had its target price lowered by stock analysts at Wedbush from $124.00 to $123.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. Wedbush's price objective points to a potential upside of 9.33% from the company's previous close.

A number of other equities analysts also recently commented on the company. Maxim Group lifted their price objective on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. JPMorgan Chase & Co. cut their price target on Cullen/Frost Bankers from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, June 27th. Stephens raised their price target on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an "equal weight" rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price objective on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a "sector perform" rating in a report on Friday, July 26th. Finally, Jefferies Financial Group dropped their price objective on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a "hold" rating for the company in a research note on Wednesday, July 3rd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Cullen/Frost Bankers has an average rating of "Hold" and a consensus target price of $119.64.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR traded down $0.04 during midday trading on Tuesday, reaching $112.51. The company had a trading volume of 406,922 shares, compared to its average volume of 446,018. Cullen/Frost Bankers has a 1 year low of $82.25 and a 1 year high of $123.17. The business's 50-day simple moving average is $110.90 and its 200 day simple moving average is $106.90. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The stock has a market cap of $7.23 billion, a P/E ratio of 13.30, a P/E/G ratio of 1.35 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, beating the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The business had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. During the same period in the prior year, the firm earned $2.47 EPS. On average, analysts forecast that Cullen/Frost Bankers will post 8.62 earnings per share for the current fiscal year.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the firm's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares of the company's stock, valued at approximately $190,481.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Howard L. Kasanoff sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the sale, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the business's stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares of the company's stock, valued at $2,243,796.45. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

Institutional Trading of Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ICA Group Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth $33,000. CWM LLC lifted its holdings in Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank's stock valued at $38,000 after buying an additional 106 shares in the last quarter. Whittier Trust Co. increased its holdings in Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank's stock worth $44,000 after purchasing an additional 186 shares during the period. Parallel Advisors LLC lifted its holdings in Cullen/Frost Bankers by 89.7% during the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank's stock worth $50,000 after buying an additional 218 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new position in Cullen/Frost Bankers in the second quarter valued at about $54,000. Institutional investors 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.