Cullen/Frost Bankers (NYSE:CFR) PT Lowered to $148.00 at Truist Financial

Cullen/Frost Bankers (NYSE:CFRGet Rating) had its price target decreased by investment analysts at Truist Financial from $160.00 to $148.00 in a research report issued to clients and investors on Friday, The Fly reports. Truist Financial’s price target indicates a potential upside of 7.46% from the company’s previous close.

A number of other equities analysts have also recently commented on CFR. Compass Point raised Cullen/Frost Bankers from a “neutral” rating to a “buy” rating and set a $152.00 target price for the company in a report on Monday, August 15th. Morgan Stanley began coverage on Cullen/Frost Bankers in a report on Monday. They set an “overweight” rating and a $178.00 target price for the company. Wedbush reissued a “neutral” rating and set a $140.00 target price on shares of Cullen/Frost Bankers in a report on Wednesday, September 28th. Stephens increased their price target on Cullen/Frost Bankers from $149.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, October 28th. Finally, Wolfe Research cut Cullen/Frost Bankers from an “outperform” rating to a “peer perform” rating in a report on Wednesday, November 2nd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus price target of $151.92.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock opened at $137.72 on Friday. The business has a 50 day simple moving average of $145.31 and a two-hundred day simple moving average of $133.85. Cullen/Frost Bankers has a 12 month low of $112.67 and a 12 month high of $160.60. The stock has a market capitalization of $8.86 billion, a P/E ratio of 18.49, a PEG ratio of 1.68 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.63 and a quick ratio of 0.63.

Insider Buying and Selling

In related news, EVP Bobby Berman sold 1,941 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $151.62, for a total value of $294,294.42. Following the completion of the transaction, the executive vice president now directly owns 24,589 shares in the company, valued at $3,728,184.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Cullen/Frost Bankers by 5.8% during the third quarter. Bank of New York Mellon Corp now owns 723,835 shares of the bank’s stock worth $95,705,000 after buying an additional 39,749 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Cullen/Frost Bankers during the third quarter worth $5,545,000. FourThought Financial LLC boosted its position in shares of Cullen/Frost Bankers by 51.1% during the third quarter. FourThought Financial LLC now owns 207 shares of the bank’s stock worth $27,000 after buying an additional 70 shares during the period. 17 Capital Partners LLC boosted its position in shares of Cullen/Frost Bankers by 7.1% during the third quarter. 17 Capital Partners LLC now owns 8,576 shares of the bank’s stock worth $1,134,000 after buying an additional 570 shares during the period. Finally, CENTRAL TRUST Co boosted its position in shares of Cullen/Frost Bankers by 23.8% during the third quarter. CENTRAL TRUST Co now owns 1,980 shares of the bank’s stock worth $262,000 after buying an additional 380 shares during the period. 78.85% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Company Profile

(Get Rating)

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

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