Morgan Stanley Lowers Cullen/Frost Bankers (NYSE:CFR) Price Target to $117.00

by · The Markets Daily

Cullen/Frost Bankers (NYSE:CFR – Get Free Report) had its price objective dropped by Morgan Stanley from $121.00 to $117.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. Morgan Stanley’s price objective would indicate a potential upside of 8.38% from the stock’s previous close.

A number of other brokerages have also issued reports on CFR. Evercore ISI dropped their price objective on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a report on Tuesday, June 25th. Truist Financial decreased their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Stephens raised their price objective on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, Maxim Group raised their price objective on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $120.07.

Check Out Our Latest Analysis on Cullen/Frost Bankers

Cullen/Frost Bankers Trading Down 3.5 %

CFR opened at $107.95 on Monday. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.36 and a beta of 1.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $123.17. The company has a 50-day simple moving average of $110.73 and a 200 day simple moving average of $107.03.

Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last posted its earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. The firm had revenue of $528.81 million during the quarter, compared to analysts’ expectations of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter in the prior year, the business earned $2.47 earnings per share. Analysts predict that Cullen/Frost Bankers will post 8.62 EPS for the current fiscal year.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers 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 sale, the executive vice president now directly owns 1,598 shares in the company, valued at approximately $190,481.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, July 31st. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The disclosure for this sale can be found here. Company insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CFR. ICA Group Wealth Management LLC purchased a new position in shares of Cullen/Frost Bankers during the fourth quarter worth about $33,000. CWM LLC grew its holdings 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 in the last quarter. Whittier Trust Co. grew its holdings 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 worth $44,000 after purchasing an additional 186 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Cullen/Frost Bankers by 89.7% during the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock worth $50,000 after purchasing an additional 218 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Cullen/Frost Bankers during the second quarter worth about $54,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

(Get Free Report)

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.

Further Reading