Cullen/Frost Bankers (NYSE:CFR) Price Target Cut to $178.00 by Analysts at TD Cowen

by · The Markets Daily

Cullen/Frost Bankers (NYSE:CFR – Free Report) had its price objective cut by TD Cowen from $185.00 to $178.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the bank’s stock.

CFR has been the topic of a number of other reports. Morgan Stanley increased their price objective on Cullen/Frost Bankers from $200.00 to $201.00 and gave the company an “overweight” rating in a research report on Monday, September 28th. Zacks Research cut Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 15th. Citigroup lifted their price objective on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and an average price target of $170.18.

View Our Latest Report on CFR

Cullen/Frost Bankers Stock Down 0.7%

CFR opened at $154.03 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. The firm’s fifty day moving average price is $162.29 and its two-hundred day moving average price is $150.87. Cullen/Frost Bankers has a fifty-two week low of $119.00 and a fifty-two week high of $170.80. The company has a market capitalization of $9.57 billion, a P/E ratio of 14.56, a P/E/G ratio of 2.37 and a beta of 0.56.

Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.15. The firm had revenue of $576.01 million during the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same quarter last year, the company earned $2.39 earnings per share. On average, analysts anticipate that Cullen/Frost Bankers will post 10.94 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a dividend of $1.03 per share. The ex-dividend date was Monday, August 31st. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 38.94%.

Institutional Trading of Cullen/Frost Bankers

Several institutional investors and hedge funds have recently bought and sold shares of CFR. BlackRock Inc. acquired a new position in Cullen/Frost Bankers in the 2nd quarter valued at about $1,133,453,000. Jupiter Topco LLC acquired a new stake in Cullen/Frost Bankers during the second quarter worth approximately $94,297,000. William Blair Investment Management LLC acquired a new stake in Cullen/Frost Bankers during the second quarter worth approximately $89,425,000. The Manufacturers Life Insurance Company acquired a new stake in Cullen/Frost Bankers during the 2nd quarter worth approximately $80,127,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Cullen/Frost Bankers in the second quarter valued at about $79,846,000. Institutional investors own 86.90% of the company’s stock.

About Cullen/Frost Bankers

(Get Free Report)

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas, and the parent company of Frost Bank. Through Frost, the company provides banking, investment, and financial services to individuals, businesses, and institutions.

Frost Bank offers personal and business deposit accounts, consumer and commercial lending, treasury management, payment services, and other banking products. Its wealth management operations provide trust, investment management, and financial planning services, while the company also offers services related to insurance and investment banking.

Founded in 1868 by Thomas Claiborne Frost, the company has a long history of serving Texas markets.

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