Cullen/Frost Bankers (NYSE:CFR) Price Target Lowered to $120.00 at Morgan Stanley

Cullen/Frost Bankers (NYSE:CFR) had its price objective lowered by stock analysts at Morgan Stanley from $132.00 to $120.00 in a report released on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. Morgan Stanley’s price objective points to a potential downside of 1.18% from the company’s previous close.

A number of other research analysts also recently commented on CFR. Compass Point boosted their price target on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI upped their price target on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a report on Monday, February 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $144.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, DA Davidson lowered Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and lifted their price target for the company from $138.00 to $143.00 in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $132.77.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock traded down $1.93 during trading on Thursday, hitting $121.43. 137,858 shares of the stock were exchanged, compared to its average volume of 438,339. Cullen/Frost Bankers has a 1-year low of $94.09 and a 1-year high of $147.64. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 6.46 and a beta of 0.97. The company has a fifty day moving average price of $137.52 and a 200-day moving average price of $129.91. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, beating the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. As a group, equities analysts predict that Cullen/Frost Bankers will post 8.85 EPS for the current fiscal year.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 11,500 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the sale, the insider now directly owns 102,946 shares in the company, valued at approximately $14,355,819.70. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd lifted 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 purchasing an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Cullen/Frost Bankers during the third quarter worth about $29,000. UMB Bank n.a. raised its holdings in shares of Cullen/Frost Bankers by 45.8% in the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock worth $33,000 after acquiring an additional 77 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth about $44,000. Finally, Blue Trust Inc. lifted its position in Cullen/Frost Bankers by 239.0% in the 4th quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after acquiring an additional 239 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

About Cullen/Frost Bankers

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.