Truist Financial Trims Cullen/Frost Bankers (NYSE:CFR) Target Price to $123.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective cut by equities researchers at Truist Financial from $126.00 to $123.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s price target would indicate a potential upside of 7.76% from the company’s current price.

CFR has been the topic of a number of other research reports. JPMorgan Chase & Co. decreased their target price 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. Royal Bank of Canada upped their target price on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Stephens raised their price target on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Morgan Stanley lowered Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $112.00 to $121.00 in a research note on Monday, August 5th. Finally, Wedbush increased their target price on Cullen/Frost Bankers from $106.00 to $124.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $119.71.

Cullen/Frost Bankers Stock Performance

NYSE CFR traded down $1.42 during trading hours on Friday, hitting $114.14. 202,201 shares of the company’s stock traded hands, compared to its average volume of 439,756. 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 has a 52 week low of $82.25 and a 52 week high of $123.17. The firm has a market capitalization of $7.31 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.35 and a beta of 1.00. The business’s fifty day moving average price is $110.57 and its two-hundred day moving average price is $106.90.

Cullen/Frost Bankers (NYSE:CFR) last posted 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 firm had revenue of $528.81 million during the quarter, compared to analyst estimates of $506.83 million. During the same period in the prior year, the business posted $2.47 EPS. Equities research analysts predict 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 company’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 transaction of $357,600.00. Following the sale, the executive vice president now directly owns 1,598 shares in the company, valued at $190,481.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction dated 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 transaction, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction dated 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 in the company, valued at $190,481.60. 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

Several hedge funds and other institutional investors have recently modified their holdings of CFR. Dimensional Fund Advisors LP boosted its stake in shares of Cullen/Frost Bankers by 20.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 787,599 shares of the bank’s stock valued at $85,451,000 after purchasing an additional 131,726 shares during the period. Tidal Investments LLC increased its position in shares of Cullen/Frost Bankers by 125.2% during the first quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock worth $1,338,000 after acquiring an additional 6,610 shares during the period. Westwood Holdings Group Inc. raised its stake 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 valued at $40,345,000 after acquiring an additional 15,981 shares in the last quarter. Oak Harvest Investment Services purchased a new stake in shares of Cullen/Frost Bankers in the first quarter valued at approximately $2,972,000. Finally, Goldman Sachs Group Inc. grew its stake in Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after purchasing an additional 244,197 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other 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.