Cullen/Frost Bankers (NYSE:CFR) PT Raised to $113.00

Cullen/Frost Bankers (NYSE:CFR) had its price target boosted by research analysts at Evercore ISI from $109.00 to $113.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “underperform” rating on the bank’s stock. Evercore ISI’s target price points to a potential upside of 0.86% from the company’s previous close.

CFR has been the topic of a number of other reports. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a report on Friday, January 26th. Compass Point downgraded shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. UBS Group increased their price objective on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Morgan Stanley increased their price objective on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, Citigroup started coverage on shares of Cullen/Frost Bankers in a report on Friday, December 1st. They set a “sell” rating and a $94.00 price objective on the stock. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $113.92.

Cullen/Frost Bankers Stock Performance

NYSE CFR traded up $0.72 during mid-day trading on Thursday, reaching $112.04. 42,210 shares of the stock were exchanged, compared to its average volume of 424,180. The business’s 50 day moving average is $107.04 and its 200-day moving average is $101.01. Cullen/Frost Bankers has a 1 year low of $82.25 and a 1 year high of $120.31. The company has a market capitalization of $7.20 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 0.63.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.17. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. The firm had revenue of $523.66 million for the quarter, compared to the consensus estimate of $498.09 million. On average, equities research analysts forecast that Cullen/Frost Bankers will post 8.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the sale, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Paul Bracher sold 9,820 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the completion of the transaction, the insider now directly owns 96,380 shares in the company, valued at $10,543,972. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bobby Berman sold 1,312 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. lifted its position in Cullen/Frost Bankers by 10.3% in the 1st quarter. American Century Companies Inc. now owns 5,345 shares of the bank’s stock worth $740,000 after buying an additional 501 shares in the last quarter. Natixis Advisors L.P. purchased a new stake in Cullen/Frost Bankers in the 1st quarter worth approximately $1,736,000. BlackRock Inc. lifted its position in Cullen/Frost Bankers by 0.8% in the 1st quarter. BlackRock Inc. now owns 5,032,068 shares of the bank’s stock worth $696,489,000 after buying an additional 39,554 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in Cullen/Frost Bankers by 9.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 31,607 shares of the bank’s stock worth $4,501,000 after buying an additional 2,600 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Cullen/Frost Bankers in the 1st quarter worth approximately $211,000. 86.90% of the stock is currently owned by institutional investors.

About Cullen/Frost Bankers

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.