Citigroup Forecasts Strong Price Appreciation for Cullen/Frost Bankers (NYSE:CFR) Stock

Cullen/Frost Bankers (NYSE:CFR) had its price target boosted by equities researchers at Citigroup from $104.00 to $113.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “sell” rating on the bank’s stock. Citigroup’s price objective would indicate a potential downside of 11.47% from the company’s previous close.

Several other research analysts have also issued reports on CFR. Stephens raised their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Maxim Group raised their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush reduced their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. DA Davidson increased their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Truist Financial reduced their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $123.86.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $127.64 on Monday. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.54 and a beta of 0.98. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $116.22 and its 200-day moving average price is $109.24. Cullen/Frost Bankers has a 12 month low of $91.24 and a 12 month high of $135.00.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 EPS. Equities research analysts forecast that Cullen/Frost Bankers will post 8.61 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the sale, the executive vice president now owns 26,661 shares in the company, valued at $3,367,550.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CFR. Covestor Ltd raised its holdings in shares of Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after acquiring an additional 141 shares during the last quarter. Asset Dedication LLC increased its holdings in Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Cullen/Frost Bankers by 90.7% in the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after purchasing an additional 186 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Cullen/Frost Bankers during the third quarter valued at approximately $52,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.