Cullen/Frost Bankers (NYSE:CFR) Given New $158.00 Price Target at Cantor Fitzgerald

Cullen/Frost Bankers (NYSE:CFR) had its price objective lifted by Cantor Fitzgerald from $154.00 to $158.00 in a report published on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the bank’s stock.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group upgraded Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and increased their target price for the company from $135.00 to $160.00 in a report on Monday, July 6th. Raymond James Financial reissued a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. Morgan Stanley lifted their target price on shares of Cullen/Frost Bankers from $133.00 to $141.00 and gave the stock an “underweight” rating in a research note on Monday, June 29th. Finally, Citigroup upped their price target on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $152.42.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $158.71 on Wednesday. The stock has a market cap of $9.97 billion, a PE ratio of 15.45, a PEG ratio of 2.81 and a beta of 0.54. The company’s fifty day moving average is $145.13 and its 200 day moving average is $140.95. Cullen/Frost Bankers has a 52 week low of $119.00 and a 52 week high of $159.54. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. The business had revenue of $574.84 million during the quarter, compared to the consensus estimate of $587.28 million. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. During the same period in the previous year, the firm posted $2.30 earnings per share. Research analysts anticipate that Cullen/Frost Bankers will post 10.57 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.6%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, May 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 40.12%.

Insider Buying and Selling

In related news, EVP Carol Jean Severyn sold 837 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $148.29, for a total transaction of $124,118.73. Following the transaction, the executive vice president owned 12,712 shares in the company, valued at $1,885,062.48. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.14% of the company’s stock.

Institutional Trading of Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently modified their holdings of CFR. M&T Bank Corp raised its position in Cullen/Frost Bankers by 13.5% in the fourth quarter. M&T Bank Corp now owns 109,154 shares of the bank’s stock worth $13,822,000 after acquiring an additional 12,990 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Cullen/Frost Bankers by 863.1% during the 4th quarter. Concurrent Investment Advisors LLC now owns 21,448 shares of the bank’s stock valued at $2,716,000 after acquiring an additional 19,221 shares during the period. ProShare Advisors LLC grew its position in shares of Cullen/Frost Bankers by 3.7% during the 4th quarter. ProShare Advisors LLC now owns 268,194 shares of the bank’s stock valued at $33,961,000 after acquiring an additional 9,612 shares during the period. Tudor Investment Corp ET AL increased its stake in shares of Cullen/Frost Bankers by 915.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 43,036 shares of the bank’s stock worth $5,456,000 after purchasing an additional 38,796 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of Cullen/Frost Bankers by 52.8% in the 4th quarter. Verition Fund Management LLC now owns 130,944 shares of the bank’s stock worth $16,581,000 after purchasing an additional 45,254 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.