Deutsche Bank AG Raises Cullen/Frost Bankers Inc. (CFR) Price Target to $77.00
Cullen/Frost Bankers Inc. (NYSE:CFR) had its target price increased by equities research analysts at Deutsche Bank AG from $66.00 to $77.00 in a research note issued on Tuesday. The brokerage presently has a “hold” rating on the stock. Deutsche Bank AG’s target price would suggest a potential upside of 5.36% from the stock’s current price.
Several other analysts have also commented on the company. Wedbush began coverage on Cullen/Frost Bankers in a report on Thursday, October 6th. They set a “neutral” rating and a $68.00 target price on the stock. Zacks Investment Research lowered Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Keefe, Bruyette & Woods raised their target price on Cullen/Frost Bankers from $57.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, July 28th. Jefferies Group raised their target price on Cullen/Frost Bankers from $61.00 to $67.00 and gave the stock a “hold” rating in a report on Thursday, July 28th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $70.00 target price (up from $63.00) on shares of Cullen/Frost Bankers in a report on Thursday, July 28th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $67.83.
Cullen/Frost Bankers (NYSE:CFR) traded down 1.23% during mid-day trading on Tuesday, reaching $72.18. The company’s stock had a trading volume of 179,851 shares. The firm’s 50 day moving average is $71.21 and its 200-day moving average is $65.48. Cullen/Frost Bankers has a 12-month low of $42.41 and a 12-month high of $74.12. The company has a market cap of $4.48 billion, a PE ratio of 17.06 and a beta of 1.11.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/11/deutsche-bank-ag-raises-cullenfrost-bankers-inc-cfr-price-target-to-77-00.html
Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a return on equity of 9.67% and a net margin of 24.81%. During the same quarter last year, the business earned $1.11 EPS. Equities analysts anticipate that Cullen/Frost Bankers will post $4.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.16 dividend on an annualized basis and a yield of 2.96%. Cullen/Frost Bankers’s payout ratio is 50.82%.
In related news, Director Jack A. Wood sold 10,200 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $73.15, for a total transaction of $746,130.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Phillip D. Green sold 13,500 shares of Cullen/Frost Bankers stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $69.42, for a total value of $937,170.00. Following the transaction, the chairman now owns 49,763 shares in the company, valued at approximately $3,454,547.46. The disclosure for this sale can be found here. Corporate insiders own 8.03% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in Cullen/Frost Bankers by 5.3% in the first quarter. Bessemer Group Inc. now owns 2,033 shares of the company’s stock valued at $112,000 after buying an additional 103 shares during the period. Creative Planning boosted its stake in Cullen/Frost Bankers by 112.3% in the second quarter. Creative Planning now owns 3,132 shares of the company’s stock valued at $200,000 after buying an additional 1,657 shares during the period. Rench Wealth Management Inc. acquired a new stake in Cullen/Frost Bankers during the second quarter valued at about $204,000. LS Investment Advisors LLC boosted its stake in Cullen/Frost Bankers by 72.2% in the second quarter. LS Investment Advisors LLC now owns 3,267 shares of the company’s stock valued at $208,000 after buying an additional 1,370 shares during the period. Finally, Fruth Investment Management acquired a new stake in Cullen/Frost Bankers during the second quarter valued at about $216,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
Receive News & Ratings for Cullen/Frost Bankers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.