Cullen/Frost Bankers (NYSE:CFR) Price Target Cut to $97.00 by Analysts at Stephens

Cullen/Frost Bankers (NYSE:CFR) had its price target reduced by Stephens from $104.00 to $97.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. Stephens currently has an equal weight rating on the bank’s stock.

Several other research analysts have also commented on CFR. Maxim Group reiterated a buy rating and issued a $100.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Evercore ISI lowered Cullen/Frost Bankers from an in-line rating to an underperform rating and set a $84.00 price objective for the company. in a research report on Friday, January 31st. Piper Jaffray Companies set a $91.00 price objective on Cullen/Frost Bankers and gave the company a hold rating in a research report on Friday, November 1st. ValuEngine lowered Cullen/Frost Bankers from a buy rating to a hold rating in a research report on Tuesday, December 3rd. Finally, Wedbush lowered Cullen/Frost Bankers from a neutral rating to an underperform rating and reduced their price objective for the company from $87.00 to $82.00 in a research report on Friday, November 1st. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $92.25.

Shares of CFR traded down $0.20 during mid-day trading on Thursday, hitting $93.60. The stock had a trading volume of 242,100 shares, compared to its average volume of 341,239. The company has a market cap of $5.85 billion, a PE ratio of 13.68, a PEG ratio of 1.58 and a beta of 1.36. The company’s fifty day simple moving average is $94.55 and its two-hundred day simple moving average is $91.23. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a fifty-two week low of $79.86 and a fifty-two week high of $106.23.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, January 30th. The bank reported $1.60 EPS for the quarter, topping the consensus estimate of $1.57 by $0.03. The company had revenue of $370.29 million during the quarter, compared to analyst estimates of $364.56 million. Cullen/Frost Bankers had a return on equity of 12.19% and a net margin of 29.62%. During the same quarter last year, the firm earned $1.82 EPS. Equities analysts expect that Cullen/Frost Bankers will post 6.15 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 28th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.03%. Cullen/Frost Bankers’s dividend payout ratio is currently 41.52%.

In related news, Director Chris Avery acquired 9,500 shares of Cullen/Frost Bankers stock in a transaction that occurred on Thursday, February 6th. The stock was acquired at an average price of $92.49 per share, for a total transaction of $878,655.00. Insiders own 4.84% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Blueshift Asset Management LLC acquired a new position in Cullen/Frost Bankers during the 4th quarter worth $363,000. First Republic Investment Management Inc. boosted its position in Cullen/Frost Bankers by 14.9% during the 4th quarter. First Republic Investment Management Inc. now owns 3,889 shares of the bank’s stock worth $380,000 after acquiring an additional 503 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Cullen/Frost Bankers by 1.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 208,244 shares of the bank’s stock worth $20,362,000 after acquiring an additional 2,302 shares during the period. Bank of New York Mellon Corp boosted its position in Cullen/Frost Bankers by 15.1% during the 4th quarter. Bank of New York Mellon Corp now owns 843,485 shares of the bank’s stock worth $82,477,000 after acquiring an additional 110,870 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Cullen/Frost Bankers by 1.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 464,711 shares of the bank’s stock worth $45,439,000 after acquiring an additional 4,841 shares during the period. Institutional investors own 82.04% of the company’s stock.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

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Analyst Recommendations for Cullen/Frost Bankers (NYSE:CFR)

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