Cullen/Frost Bankers (NYSE:CFR) Given New $160.00 Price Target at Barclays

Key Points

• Barclays raised its price target on Cullen/Frost Bankers from $155 to $160 while keeping an equal weight rating, implying modest upside from the previous close.
• Other analysts remain mixed on the stock: recent ratings ranged from buy and hold to sell, and MarketBeat shows an overall Hold consensus with an average price target of $151.92.
• Cullen/Frost Bankers last traded at $156.56 and recently reported better-than-expected EPS of $2.65 for the quarter, though revenue came in slightly below estimates.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) had its price objective increased by Barclays from $155.00 to $160.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the bank's stock. Barclays's price target suggests a potential upside of 2.20% from the company's previous close.

A number of other equities research analysts have also issued reports on CFR. Cantor Fitzgerald restated a "neutral" rating on shares of Cullen/Frost Bankers in a research report on Monday, June 1st. Citigroup boosted their price objective on Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a "sell" rating in a research note on Tuesday, June 30th. Jefferies Financial Group raised Cullen/Frost Bankers from an "underperform" rating to a "hold" rating and raised their target price for the stock from $135.00 to $160.00 in a research note on Monday. Raymond James Financial reissued a "market perform" rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Finally, Morgan Stanley upped their price objective on shares of Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an "underweight" rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers has an average rating of "Hold" and an average price target of $151.92.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR traded up $0.30 during trading on Tuesday, reaching $156.56. The stock had a trading volume of 20,636 shares, compared to its average volume of 561,854. The business has a fifty day moving average price of $143.15 and a 200-day moving average price of $139.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $9.83 billion, a PE ratio of 15.27, a PEG ratio of 3.90 and a beta of 0.54. Cullen/Frost Bankers has a 1-year low of $119.00 and a 1-year high of $157.34.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.49 by $0.16. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. The business had revenue of $574.84 million during the quarter, compared to analysts' expectations of $587.28 million. During the same period in the prior year, the business earned $2.30 earnings per share. On average, equities analysts forecast that Cullen/Frost Bankers will post 10.54 earnings per share for the current fiscal year.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Carol Jean Severyn sold 837 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the sale, the executive vice president owned 12,712 shares of the company's stock, valued at approximately $1,885,062.48. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds have recently bought and sold shares of the stock. Diversified Trust Co. raised its holdings in Cullen/Frost Bankers by 0.5% in the fourth quarter. Diversified Trust Co. now owns 13,868 shares of the bank's stock valued at $1,756,000 after acquiring an additional 74 shares in the last quarter. Matrix Trust Co grew its holdings in Cullen/Frost Bankers by 40.4% during the 4th quarter. Matrix Trust Co now owns 320 shares of the bank's stock worth $41,000 after acquiring an additional 92 shares in the last quarter. Private Advisor Group LLC grew its holdings in Cullen/Frost Bankers by 2.9% during the 3rd quarter. Private Advisor Group LLC now owns 3,283 shares of the bank's stock worth $416,000 after acquiring an additional 94 shares in the last quarter. Cardinal Capital Management increased its position in shares of Cullen/Frost Bankers by 0.5% in the 4th quarter. Cardinal Capital Management now owns 18,134 shares of the bank's stock valued at $2,296,000 after purchasing an additional 98 shares during the last quarter. Finally, Evolve Private Wealth LLC increased its position in shares of Cullen/Frost Bankers by 6.0% in the 1st quarter. Evolve Private Wealth LLC now owns 1,726 shares of the bank's stock valued at $237,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.