Truist Financial Trims Cullen/Frost Bankers (NYSE:CFR) Target Price to $115.00

Cullen/Frost Bankers (NYSE:CFR) had its target price cut by Truist Financial from $121.00 to $115.00 in a research note released on Monday morning, Benzinga reports. They currently have a hold rating on the bank’s stock.

CFR has been the subject of a number of other reports. Wedbush restated a neutral rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Stephens boosted their target price on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the stock an equal weight rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods decreased their price target on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a market perform rating on the stock in a research note on Friday, January 26th. Royal Bank of Canada restated a sector perform rating and issued a $118.00 price objective on shares of Cullen/Frost Bankers in a research report on Tuesday, April 9th. Finally, Evercore ISI increased their price objective on Cullen/Frost Bankers from $109.00 to $113.00 and gave the company an underperform rating in a research report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $117.46.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $105.35 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50-day moving average of $108.99 and a 200-day moving average of $104.19. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.32 and a beta of 1.03. Cullen/Frost Bankers has a 52 week low of $82.25 and a 52 week high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same quarter last year, the business earned $2.70 earnings per share. As a group, equities research analysts anticipate that Cullen/Frost Bankers will post 8.42 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Friday, May 31st. Cullen/Frost Bankers’s payout ratio is 43.50%.

Insiders Place Their Bets

In other news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the sale, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several large investors have recently modified their holdings of CFR. Norges Bank bought a new stake in Cullen/Frost Bankers during the 4th quarter worth approximately $72,627,000. Goldman Sachs Group Inc. increased its position in shares of Cullen/Frost Bankers by 44.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after acquiring an additional 244,197 shares in the last quarter. Polaris Capital Management LLC raised its holdings in shares of Cullen/Frost Bankers by 87.9% during the fourth quarter. Polaris Capital Management LLC now owns 359,100 shares of the bank’s stock worth $38,959,000 after acquiring an additional 168,000 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in shares of Cullen/Frost Bankers by 2,414.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 153,051 shares of the bank’s stock worth $16,605,000 after acquiring an additional 146,963 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Cullen/Frost Bankers by 20.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 787,599 shares of the bank’s stock valued at $85,451,000 after acquiring an additional 131,726 shares in the last quarter. 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.