Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $115.00 at Evercore ISI

Cullen/Frost Bankers (NYSE:CFR) had its price target lowered 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 brokerage presently has an “underperform” rating on the bank’s stock. Evercore ISI’s price objective suggests a potential upside of 6.18% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. Wedbush cut their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut their price objective on 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. Maxim Group upped their target price 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. Truist Financial reduced their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Finally, Morgan Stanley cut their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday. 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $121.14.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR traded up $0.33 on Wednesday, reaching $108.31. 18,198 shares of the company traded hands, compared to its average volume of 441,064. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $6.96 billion, a PE ratio of 12.80, a P/E/G ratio of 1.36 and a beta of 1.00. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $123.17. The company’s 50 day moving average is $110.73 and its 200-day moving average is $107.03.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results 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 net margin of 19.51% and a return on equity of 17.43%. The company had revenue of $528.81 million for the quarter, compared to analyst estimates of $506.83 million. During the same quarter in the prior year, the business posted $2.47 EPS. As a group, analysts anticipate that Cullen/Frost Bankers will post 8.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Cullen/Frost Bankers

In related 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 directly 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 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 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 in the company, valued at approximately $190,481.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 completion of the transaction, 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. Company insiders own 2.89% of the company’s stock.

Institutional Trading of Cullen/Frost Bankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in Cullen/Frost Bankers in the second quarter valued at approximately $2,199,000. Point72 Asset Management L.P. acquired a new stake in Cullen/Frost Bankers in the second quarter valued at $13,574,000. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $600,000 after purchasing an additional 156 shares during the last quarter. Creative Planning raised its holdings in shares of Cullen/Frost Bankers by 7.4% in the 2nd quarter. Creative Planning now owns 8,449 shares of the bank’s stock valued at $859,000 after purchasing an additional 585 shares during the period. Finally, Algert Global LLC grew its holdings in Cullen/Frost Bankers by 19.7% during the second quarter. Algert Global LLC now owns 37,301 shares of the bank’s stock worth $3,791,000 after purchasing an additional 6,143 shares during the period. 86.90% of the stock is 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.