Cullen/Frost Bankers (NYSE:CFR) Given New $120.00 Price Target at Royal Bank of Canada

Cullen/Frost Bankers (NYSE:CFR) had its target price lifted by Royal Bank of Canada from $119.00 to $120.00 in a report released on Friday morning, Benzinga reports. They currently have a sector perform rating on the bank’s stock.

CFR has been the subject of a number of other research reports. DA Davidson restated a buy rating and set a $126.00 target price on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Jefferies Financial Group dropped their target price on Cullen/Frost Bankers from $117.00 to $108.00 and set a hold rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. decreased their price objective on Cullen/Frost Bankers from $140.00 to $130.00 and set an overweight rating for the company in a research note on Thursday, June 27th. Wedbush reaffirmed a neutral rating and set a $115.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Finally, Maxim Group lifted their price objective on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a buy rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $117.79.

Cullen/Frost Bankers Trading Up 1.7 %

Shares of CFR opened at $119.74 on Friday. The stock has a fifty day moving average price of $102.68 and a two-hundred day moving average price of $105.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. Cullen/Frost Bankers has a 52-week low of $82.25 and a 52-week high of $123.17. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.47 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.16. Cullen/Frost Bankers had a return on equity of 17.72% and a net margin of 24.88%. During the same period in the prior year, the business posted $2.47 earnings per share. Analysts predict that Cullen/Frost Bankers will post 8.42 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.95 per share. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, August 30th. Cullen/Frost Bankers’s dividend payout ratio is currently 43.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Cullen/Frost Bankers by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock worth $695,729,000 after acquiring an additional 19,755 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in Cullen/Frost Bankers by 18.4% during the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after acquiring an additional 495,215 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Cullen/Frost Bankers by 18.8% during the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after acquiring an additional 161,580 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Cullen/Frost Bankers by 1.6% during the first quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock worth $92,432,000 after acquiring an additional 12,897 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Cullen/Frost Bankers by 44.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after acquiring an additional 244,197 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

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.