Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $104.00 at Citigroup

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) had its target price lowered by research analysts at Citigroup from $107.00 to $104.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "sell" rating on the bank's stock. Citigroup's price target indicates a potential downside of 7.11% from the stock's current price.

Several other equities analysts have also recently issued reports on CFR. Truist Financial dropped their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their price objective on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, June 27th. Morgan Stanley reduced their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating on the stock in a report on Monday. Royal Bank of Canada upped their target price on Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a "sector perform" rating in a research note on Friday, July 26th. Finally, Wedbush decreased their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating on the stock in a report on Tuesday, September 24th. Four 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $120.07.

Cullen/Frost Bankers Stock Performance

NYSE CFR traded up $0.77 on Monday, reaching $111.96. The stock had a trading volume of 291,742 shares, compared to its average volume of 443,874. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $7.17 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 1.36 and a beta of 1.00. The business's 50-day moving average price is $110.73 and its 200 day moving average price is $107.03. Cullen/Frost Bankers has a 12-month low of $82.25 and a 12-month high of $123.17.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.07 by $0.14. The firm had revenue of $528.81 million during the quarter, compared to analysts' expectations of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter in the prior year, the business earned $2.47 EPS. As a group, equities analysts expect that Cullen/Frost Bankers will post 8.62 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in Cullen/Frost Bankers by 125.2% in the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank's stock valued at $1,338,000 after purchasing an additional 6,610 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Cullen/Frost Bankers by 4.5% during the fourth quarter. Westwood Holdings Group Inc. now owns 371,879 shares of the bank's stock worth $40,345,000 after buying an additional 15,981 shares during the period. Oak Harvest Investment Services acquired a new stake in Cullen/Frost Bankers in the 1st quarter valued at approximately $2,972,000. Goldman Sachs Group Inc. raised its stake in Cullen/Frost Bankers by 44.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank's stock valued at $86,619,000 after acquiring an additional 244,197 shares in the last quarter. Finally, Natixis bought a new stake in Cullen/Frost Bankers during the 1st quarter valued at $957,000. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Company Profile

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.