Cullen/Frost Bankers (NYSE:CFR) Given New $137.00 Price Target at Evercore ISI

Key Points

• Evercore ISI raised its price target for Cullen/Frost Bankers from $135.00 to $137.00, indicating a potential upside of 9.04% from its previous close.
• The stock has received varied ratings from analysts, with one "Strong Buy," two "Buy," eight "Hold," and three "Sell" ratings.
• Cullen/Frost Bankers reported a quarterly earnings per share of $2.39, exceeding expectations and demonstrating growth from $2.21 in the same period last year.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) had its target price upped by analysts at Evercore ISI from $135.00 to $137.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "in-line" rating on the bank's stock. Evercore ISI's target price would suggest a potential upside of 9.04% from the stock's previous close.

Several other analysts have also recently issued reports on the stock. Barclays cut their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. TD Cowen upgraded shares of Cullen/Frost Bankers to a "strong-buy" rating in a research report on Thursday, September 25th. Morgan Stanley raised their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an "underweight" rating in a report on Monday. Cantor Fitzgerald started coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, September 10th. They set a "neutral" rating and a $138.00 price objective on the stock. Finally, Raymond James Financial lowered their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $137.31.

Cullen/Frost Bankers Price Performance

NYSE:CFR traded down $1.63 during mid-day trading on Tuesday, hitting $125.64. 60,303 shares of the company's stock traded hands, compared to its average volume of 435,470. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. The firm's 50 day simple moving average is $128.26 and its 200 day simple moving average is $125.76. Cullen/Frost Bankers has a 1 year low of $100.31 and a 1 year high of $147.64. The company has a market cap of $8.08 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 2.70 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The business had revenue of $567.83 million for the quarter, compared to analysts' expectations of $552.04 million. During the same period last year, the company earned $2.21 earnings per share. Sell-side analysts expect that Cullen/Frost Bankers will post 8.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC raised its stake in shares of Cullen/Frost Bankers by 17.7% in the second quarter. Corient Private Wealth LLC now owns 16,889 shares of the bank's stock valued at $2,171,000 after buying an additional 2,542 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Cullen/Frost Bankers by 128.4% in the 2nd quarter. Osaic Holdings Inc. now owns 5,928 shares of the bank's stock worth $756,000 after acquiring an additional 3,333 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Cullen/Frost Bankers during the 2nd quarter valued at about $2,510,000. Geneos Wealth Management Inc. lifted its holdings in Cullen/Frost Bankers by 38.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 507 shares of the bank's stock worth $65,000 after buying an additional 141 shares during the period. Finally, Westwood Holdings Group Inc. lifted its holdings in Cullen/Frost Bankers by 1.6% in the 2nd quarter. Westwood Holdings Group Inc. now owns 439,893 shares of the bank's stock worth $56,544,000 after buying an additional 6,946 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.

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