Raymond James Financial Lowers Cullen/Frost Bankers (NYSE:CFR) Price Target to $145.00

Key Points

• Analysts at Raymond James Financial cut their price target for Cullen/Frost Bankers from $150.00 to $145.00, while maintaining an "outperform" rating on the stock, indicating a potential upside of 15.99% from its current price.
• Other analysts have issued mixed ratings, with Stephens raising their target to $141.00 and Jefferies starting coverage with an "underperform" rating and a target of $105.00.
• Cullen/Frost Bankers reported earnings of $2.39 EPS for the last quarter, surpassing analysts' expectations, alongside revenue of $567.83 million, exceeding estimates of $552.04 million.

Cullen/Frost Bankers (NYSE:CFR - Free Report) had its price target reduced by Raymond James Financial from $150.00 to $145.00 in a report released on Monday morning,Benzinga reports. Raymond James Financial currently has an outperform rating on the bank's stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank Of Canada dropped their target price on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective on the stock in a research report on Friday, May 2nd. Barclays dropped their price objective on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Stephens increased their price objective on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, Jefferies Financial Group assumed coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of "Hold" and a consensus price target of $133.71.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock traded up $1.04 on Monday, reaching $123.13. The stock had a trading volume of 330,664 shares, compared to its average volume of 436,661. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The firm's 50-day moving average is $130.41 and its two-hundred day moving average is $128.17. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 2.58 and a beta of 0.70. Cullen/Frost Bankers has a 12 month low of $100.31 and a 12 month high of $147.64.

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

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.06%.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of hedge funds have recently bought and sold shares of CFR. Alpine Bank Wealth Management bought a new position in Cullen/Frost Bankers during the first quarter worth about $30,000. Hantz Financial Services Inc. increased its position in Cullen/Frost Bankers by 8,800.0% during the second quarter. Hantz Financial Services Inc. now owns 267 shares of the bank's stock worth $34,000 after acquiring an additional 264 shares during the period. eCIO Inc. bought a new position in Cullen/Frost Bankers during the first quarter worth about $36,000. Geneos Wealth Management Inc. grew its stake in Cullen/Frost Bankers by 40.8% during the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank's stock worth $46,000 after buying an additional 106 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Cullen/Frost Bankers by 59.6% during the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after buying an additional 146 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

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.