Citigroup Trims Cullen/Frost Bankers (NYSE:CFR) Target Price to $104.00

04 Oct 2024, 09:59 by Kim Johansen · The Markets Daily

Cullen/Frost Bankers (NYSE:CFR – Free Report) had its target price cut by Citigroup from $107.00 to $104.00 in a report issued on Monday, Benzinga reports. They currently have a sell rating on the bank’s stock.

Several other research analysts have also recently commented on the company. DA Davidson boosted their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a buy rating in a research note on Friday, July 26th. Truist Financial dropped their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a hold rating on the stock in a report on Friday, September 20th. Evercore ISI reduced their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an underperform rating for the company in a research note on Tuesday, June 25th. Wedbush decreased their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a neutral rating for the company in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group cut their price target on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating on the stock in a report on Wednesday, July 3rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $121.14.

Get Our Latest Analysis on CFR

Cullen/Frost Bankers Stock Up 0.5 %

Shares of NYSE:CFR opened at $108.95 on Monday. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.36 and a beta of 1.00. The company has a 50 day moving average of $110.47 and a two-hundred day moving average of $107.05. Cullen/Frost Bankers has a 52-week low of $82.25 and a 52-week high of $123.17. 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 (NYSE:CFR – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The business had revenue of $528.81 million during the quarter, compared to analyst estimates of $506.83 million. During the same period last year, the business earned $2.47 EPS. As a group, analysts forecast that Cullen/Frost Bankers will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Friday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio is currently 44.92%.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 18,753 shares in the company, valued at $2,243,796.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The disclosure for this sale can be found here. 2.89% of the stock is owned by company insiders.

Institutional Trading of Cullen/Frost Bankers

Several hedge funds have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new position in shares of Cullen/Frost Bankers during the fourth quarter valued at $33,000. CWM LLC grew its position in Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after buying an additional 106 shares in the last quarter. Whittier Trust Co. increased its stake 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 buying an additional 186 shares during the period. Parallel Advisors LLC increased its stake in Cullen/Frost Bankers by 89.7% during the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after buying an additional 218 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth about $54,000. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

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