Cullen/Frost Bankers, Inc. (CFR) Given New $106.00 Price Target at Barclays PLC

Cullen/Frost Bankers, Inc. (NYSE:CFR) had its price target raised by Barclays PLC from $97.00 to $106.00 in a research report report published on Monday. The firm currently has an equal weight rating on the bank’s stock.

A number of other equities analysts also recently issued reports on CFR. Zacks Investment Research downgraded Cullen/Frost Bankers from a buy rating to a hold rating in a report on Tuesday, July 4th. Raymond James Financial, Inc. reaffirmed a market perform rating on shares of Cullen/Frost Bankers in a report on Tuesday, July 4th. BidaskClub raised Cullen/Frost Bankers from a sell rating to a hold rating in a report on Wednesday, July 5th. Morgan Stanley reiterated an equal weight rating and issued a $93.00 price objective (up previously from $90.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 6th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $95.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average target price of $100.46.

Cullen/Frost Bankers (NYSE CFR) traded down 0.29% during mid-day trading on Monday, hitting $98.70. 424,471 shares of the company’s stock traded hands. Cullen/Frost Bankers has a one year low of $72.96 and a one year high of $103.37. The stock has a market cap of $6.34 billion, a PE ratio of 19.44 and a beta of 1.35. The firm’s 50-day moving average price is $94.51 and its 200-day moving average price is $92.40.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.10. The firm had revenue of $300.83 million during the quarter, compared to the consensus estimate of $329.62 million. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. During the same period in the prior year, the company posted $1.24 earnings per share. On average, analysts forecast that Cullen/Frost Bankers will post $5.32 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.30%. The ex-dividend date is Wednesday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 43.35%.

Cullen/Frost Bankers announced that its board has authorized a stock buyback plan on Thursday, October 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the bank to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

A number of institutional investors have recently bought and sold shares of CFR. Janus Henderson Group PLC acquired a new stake in shares of Cullen/Frost Bankers during the second quarter valued at $5,119,000. HPM Partners LLC purchased a new position in Cullen/Frost Bankers during the second quarter worth about $4,070,000. Morgan Stanley lifted its position in Cullen/Frost Bankers by 9.5% during the first quarter. Morgan Stanley now owns 187,957 shares of the bank’s stock worth $16,723,000 after buying an additional 16,275 shares during the period. First National Bank of Omaha lifted its position in Cullen/Frost Bankers by 4.3% during the second quarter. First National Bank of Omaha now owns 19,075 shares of the bank’s stock worth $1,791,000 after buying an additional 784 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in Cullen/Frost Bankers by 4.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 224,812 shares of the bank’s stock worth $21,113,000 after buying an additional 10,325 shares during the period. 80.71% of the stock is currently owned by institutional investors.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.

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