Cullen/Frost Bankers (NYSE:CFR) Given New $135.00 Price Target at Barclays

Cullen/Frost Bankers (NYSE:CFR - Free Report) had its target price lifted by Barclays from $130.00 to $135.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the bank's stock.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley reduced their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada restated a "sector perform" rating and set a $144.00 price target on shares of Cullen/Frost Bankers in a research note on Friday, January 31st. DA Davidson cut Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and upped their price target for the company from $138.00 to $143.00 in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price target on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Finally, Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price on the stock in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $132.14.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR traded down $0.36 during midday trading on Friday, hitting $122.03. 81,239 shares of the company's stock were exchanged, compared to its average volume of 463,295. Cullen/Frost Bankers has a 12 month low of $94.09 and a 12 month high of $147.64. The company's 50 day moving average price is $119.32 and its 200 day moving average price is $131.05. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $7.84 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 6.46 and a beta of 0.67.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.13. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. The company had revenue of $560.42 million during the quarter, compared to analysts' expectations of $540.57 million. During the same quarter in the previous year, the business posted $2.15 earnings per share. As a group, analysts predict that Cullen/Frost Bankers will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $1.00 dividend. The ex-dividend date is Friday, May 30th. This represents a $4.00 annualized dividend and a yield of 3.28%. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 41.71%.

Insider Activity

In other news, CAO Matthew Bradley Henson bought 1,870 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average price of $16.93 per share, for a total transaction of $31,659.10. Following the purchase, the chief accounting officer now owns 5,545 shares in the company, valued at $93,876.85. This represents a 50.88 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.89% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Cullen/Frost Bankers by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank's stock worth $855,884,000 after acquiring an additional 66,243 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Cullen/Frost Bankers by 5.7% in the 1st quarter. Boston Trust Walden Corp now owns 1,112,477 shares of the bank's stock worth $139,282,000 after buying an additional 60,187 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cullen/Frost Bankers by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,026,585 shares of the bank's stock valued at $137,823,000 after buying an additional 6,159 shares in the last quarter. GAMMA Investing LLC grew its position in Cullen/Frost Bankers by 122,282.2% in the first quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank's stock worth $125,949,000 after acquiring an additional 1,005,160 shares in the last quarter. Finally, Northern Trust Corp raised its position in Cullen/Frost Bankers by 33.7% during the fourth quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock valued at $130,703,000 after purchasing an additional 245,458 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.