Barclays Cuts Cullen/Frost Bankers (NYSE:CFR) Price Target to $140.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective cut by Barclays from $145.00 to $140.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective suggests a potential upside of 8.41% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Thursday, September 25th. Cantor Fitzgerald assumed coverage on shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 price objective on the stock. Citigroup raised their target price on Cullen/Frost Bankers from $112.00 to $114.00 and gave the stock a “sell” rating in a report on Friday, October 31st. Finally, Evercore ISI upped their price objective on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus price target of $135.55.

Cullen/Frost Bankers Trading Up 0.3%

NYSE CFR traded up $0.40 during trading hours on Friday, hitting $129.14. 193,622 shares of the company were exchanged, compared to its average volume of 439,999. Cullen/Frost Bankers has a 52 week low of $100.31 and a 52 week high of $146.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $124.70 and a 200 day moving average price of $127.52. The stock has a market cap of $8.26 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 2.99 and a beta of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 30th. The bank reported $2.67 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.29. The firm had revenue of $567.27 million during the quarter, compared to analysts’ expectations of $565.54 million. Cullen/Frost Bankers had a return on equity of 15.84% and a net margin of 21.99%.During the same quarter in the previous year, the business earned $2.24 EPS. Analysts forecast that Cullen/Frost Bankers will post 8.85 earnings per share for the current fiscal year.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of Cullen/Frost Bankers stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total value of $88,900.00. Following the sale, the executive vice president owned 3,795 shares of the company’s stock, valued at $481,965. The trade was a 15.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of hedge funds have recently added to or reduced their stakes in CFR. Norges Bank acquired a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth approximately $90,484,000. Two Sigma Investments LP increased its position in Cullen/Frost Bankers by 2,024.4% during the third quarter. Two Sigma Investments LP now owns 373,977 shares of the bank’s stock worth $47,409,000 after buying an additional 356,373 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of Cullen/Frost Bankers by 58.7% in the second quarter. Impax Asset Management Group plc now owns 822,878 shares of the bank’s stock worth $104,861,000 after acquiring an additional 304,491 shares during the last quarter. Fiera Capital Corp purchased a new stake in shares of Cullen/Frost Bankers in the third quarter valued at $29,769,000. Finally, Millennium Management LLC acquired a new stake in shares of Cullen/Frost Bankers during the third quarter valued at $29,687,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.