Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $123.00

Cullen/Frost Bankers (NYSE:CFR) had its price target cut by equities research analysts at Wedbush from $124.00 to $123.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. Wedbush’s target price indicates a potential upside of 9.57% from the company’s current price.

Several other research analysts have also issued reports on CFR. Morgan Stanley lowered Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $112.00 to $121.00 in a research report on Monday, August 5th. Maxim Group boosted their price objective on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 26th. DA Davidson boosted their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lowered their target price on 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. Finally, Evercore ISI lowered their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a research note on Tuesday, June 25th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $119.64.

Cullen/Frost Bankers Trading Down 0.2 %

CFR stock traded down $0.28 on Tuesday, reaching $112.26. The company’s stock had a trading volume of 146,721 shares, compared to its average volume of 444,603. The business has a fifty day simple moving average of $110.88 and a two-hundred day simple moving average of $106.87. 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 firm has a market cap of $7.21 billion, a PE ratio of 13.25, a PEG ratio of 1.35 and a beta of 1.00. Cullen/Frost Bankers has a 12-month low of $82.25 and a 12-month high of $123.17.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 EPS 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 during the quarter, compared to the consensus estimate of $506.83 million. During the same period last year, the company earned $2.47 EPS. As a group, research analysts forecast that Cullen/Frost Bankers will post 8.62 EPS for the current year.

Insider Activity

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the 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 directly owns 18,753 shares in the company, valued at $2,243,796.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Howard L. Kasanoff sold 3,000 shares of the 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 transaction, the executive vice president now directly owns 1,598 shares in the company, valued at $190,481.60. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several large investors have recently modified their holdings of CFR. ICA Group Wealth Management LLC purchased a new position in Cullen/Frost Bankers during the 4th quarter valued at $33,000. CWM LLC lifted its position in shares of Cullen/Frost Bankers by 46.5% during the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Cullen/Frost Bankers by 90.7% during the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after buying an additional 186 shares during the period. Parallel Advisors LLC grew its stake in Cullen/Frost Bankers by 89.7% in the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after purchasing an additional 218 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in Cullen/Frost Bankers in the second quarter valued at about $54,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.