Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $115.00

by · The Cerbat Gem

Cullen/Frost Bankers (NYSE:CFR – Get Free Report) had its price target dropped by analysts at Evercore ISI from $123.00 to $115.00 in a report released on Wednesday, 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 5.55% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Maxim Group increased their price objective on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 26th. Wedbush lowered their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Truist Financial reduced 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 report on Friday, September 20th. Citigroup lowered their price target on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a report on Monday. Finally, Jefferies Financial Group reduced their price objective on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus price target of $121.14.

Read Our Latest Stock Analysis on CFR

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $108.95 on Wednesday. Cullen/Frost Bankers has a 12 month low of $82.25 and a 12 month high of $123.17. The firm has a market capitalization of $7.00 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.36 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The company’s fifty day moving average price is $110.47 and its 200 day moving average price is $107.05.

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 business had revenue of $528.81 million for the quarter, compared to analysts’ expectations of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same quarter in the previous year, the firm earned $2.47 earnings per share. As a group, sell-side analysts predict that Cullen/Frost Bankers will post 8.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 18,753 shares in the company, valued at approximately $2,243,796.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The disclosure for this sale can be found here. 2.89% of the stock is owned by corporate insiders.

Institutional Trading of Cullen/Frost Bankers

A number of institutional investors have recently bought and sold shares of CFR. CWM LLC raised its stake in shares of Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after buying an additional 106 shares during the last quarter. Whittier Trust Co. increased its holdings in Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after acquiring an additional 186 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Cullen/Frost Bankers by 89.7% in the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after purchasing an additional 218 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers in the second quarter valued at about $54,000. Finally, GAMMA Investing LLC grew its position in shares of Cullen/Frost Bankers by 40.7% in the first quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock valued at $65,000 after purchasing an additional 166 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

About Cullen/Frost Bankers

(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.

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