Cullen/Frost Bankers (NYSE:CFR) Given New $115.00 Price Target at Evercore ISI

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) had its price target decreased by analysts at Evercore ISI from $123.00 to $115.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an "underperform" rating on the bank's stock. Evercore ISI's target price would suggest a potential upside of 6.09% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, June 27th. Truist Financial cut their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating on the stock in a report on Friday, September 20th. Wedbush decreased their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating for the company in a report on Tuesday, September 24th. Jefferies Financial Group cut their target price on Cullen/Frost Bankers from $117.00 to $108.00 and set a "hold" rating on the stock in a research note on Wednesday, July 3rd. Finally, DA Davidson boosted their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $121.14.

Cullen/Frost Bankers Stock Up 0.4 %

CFR traded up $0.42 during midday trading on Wednesday, reaching $108.40. The company's stock had a trading volume of 306,929 shares, compared to its average volume of 442,583. The stock's 50-day moving average is $110.58 and its 200-day moving average is $107.04. Cullen/Frost Bankers has a 1 year low of $82.25 and a 1 year high of $123.17. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.36 and a beta of 1.00. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06.

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

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares in the company, valued at $190,481.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now owns 1,598 shares of the company's stock, valued at $190,481.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers 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 transaction, the executive vice president now owns 18,753 shares in the company, 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 insiders.

Institutional Trading of Cullen/Frost Bankers

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in Cullen/Frost Bankers in the second quarter worth $2,199,000. Point72 Asset Management L.P. purchased a new position in shares of Cullen/Frost Bankers in the 2nd quarter worth approximately $13,574,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Cullen/Frost Bankers by 2.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank's stock valued at $600,000 after purchasing an additional 156 shares during the last quarter. Creative Planning raised its holdings in Cullen/Frost Bankers by 7.4% during the 2nd quarter. Creative Planning now owns 8,449 shares of the bank's stock valued at $859,000 after buying an additional 585 shares during the period. Finally, Algert Global LLC lifted its position in Cullen/Frost Bankers by 19.7% in the second quarter. Algert Global LLC now owns 37,301 shares of the bank's stock worth $3,791,000 after buying an additional 6,143 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

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.