Cullen/Frost Bankers (NYSE:CFR) had its target price hoisted by investment analysts at Barclays from $106.00 to $110.00 in a note issued to investors on Tuesday, January 2nd, Marketbeat Ratings reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays’ price objective suggests a potential upside of 9.02% from the stock’s current price.
Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $95.00 price target on shares of Cullen/Frost Bankers in a report on Friday, September 29th. SunTrust Banks reissued a “buy” rating and set a $116.00 target price on shares of Cullen/Frost Bankers in a research note on Wednesday, November 29th. Morgan Stanley increased their target price on shares of Cullen/Frost Bankers from $96.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Citigroup raised shares of Cullen/Frost Bankers to a “market perform” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research lowered shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $102.19.
Shares of Cullen/Frost Bankers (NYSE CFR) traded down $0.23 during mid-day trading on Tuesday, hitting $100.90. The stock had a trading volume of 351,350 shares, compared to its average volume of 330,580. The firm has a market capitalization of $6,387.83, a P/E ratio of 19.18, a PEG ratio of 1.74 and a beta of 1.33. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.65 and a current ratio of 0.65. Cullen/Frost Bankers has a 1-year low of $81.09 and a 1-year high of $103.37.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 26th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.10. The business had revenue of $300.83 million for the quarter, compared to the consensus estimate of $329.62 million. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. During the same period in the prior year, the firm posted $1.24 earnings per share. sell-side analysts forecast that Cullen/Frost Bankers will post 5.38 earnings per share for the current year.
Cullen/Frost Bankers declared that its board has authorized a share buyback program on Thursday, October 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the bank to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
In other Cullen/Frost Bankers news, CFO Jerry Salinas sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $99.65, for a total value of $1,195,800.00. Following the completion of the transaction, the chief financial officer now owns 24,184 shares of the company’s stock, valued at approximately $2,409,935.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bobby Berman sold 41,760 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $100.53, for a total transaction of $4,198,132.80. Following the completion of the transaction, the insider now directly owns 38,596 shares of the company’s stock, valued at approximately $3,880,055.88. The disclosure for this sale can be found here. Insiders have sold a total of 60,760 shares of company stock valued at $6,058,863 in the last ninety days. 5.15% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Cullen/Frost Bankers by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 5,460,000 shares of the bank’s stock valued at $512,749,000 after purchasing an additional 103,634 shares in the last quarter. BlackRock Inc. raised its stake in Cullen/Frost Bankers by 3.9% during the 2nd quarter. BlackRock Inc. now owns 4,879,258 shares of the bank’s stock worth $458,211,000 after acquiring an additional 183,302 shares in the last quarter. FMR LLC raised its stake in Cullen/Frost Bankers by 2.0% during the 2nd quarter. FMR LLC now owns 4,090,392 shares of the bank’s stock worth $384,130,000 after acquiring an additional 80,709 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Cullen/Frost Bankers by 4.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,046,915 shares of the bank’s stock worth $192,225,000 after acquiring an additional 95,236 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Cullen/Frost Bankers by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,838,126 shares of the bank’s stock worth $174,474,000 after acquiring an additional 7,228 shares in the last quarter. Institutional investors and hedge funds own 80.97% of the company’s stock.
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About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
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