Stock analysts at Raymond James Financial, Inc. started coverage on shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in a research note issued to investors on Thursday. The firm set a “market perform” rating on the bank’s stock.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Tuesday, March 28th. SunTrust Banks, Inc. upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research report on Monday, December 19th. JPMorgan Chase & Co. upgraded Cullen/Frost Bankers from an “underweight” rating to a “neutral” rating and upped their price target for the company from $67.00 to $95.00 in a research report on Thursday, January 5th. Barclays PLC upped their price target on Cullen/Frost Bankers from $89.00 to $96.00 and gave the company an “equal weight” rating in a research report on Thursday, January 26th. Finally, Maxim Group upped their price target on Cullen/Frost Bankers from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $82.83.
Cullen/Frost Bankers (NYSE:CFR) traded down 0.65% during trading on Thursday, reaching $90.07. 248,524 shares of the company’s stock were exchanged. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 19.15 and a beta of 1.20. Cullen/Frost Bankers has a 52-week low of $57.94 and a 52-week high of $96.62. The stock’s 50-day moving average price is $89.17 and its 200-day moving average price is $85.37.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Wednesday, January 25th. The bank reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $338.40 million for the quarter, compared to analyst estimates of $305.52 million. Cullen/Frost Bankers had a return on equity of 10.39% and a net margin of 26.73%. Cullen/Frost Bankers’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS. Equities analysts expect that Cullen/Frost Bankers will post $5.13 earnings per share for the current year.
In related news, insider Bobby Berman sold 7,940 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $93.35, for a total transaction of $741,199.00. Following the transaction, the insider now directly owns 38,596 shares of the company’s stock, valued at approximately $3,602,936.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Annette M. Alonzo sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $92.03, for a total value of $552,180.00. Following the transaction, the insider now directly owns 2,676 shares in the company, valued at $246,272.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,940 shares of company stock worth $4,372,799. 8.03% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in shares of Cullen/Frost Bankers by 9.5% in the third quarter. BlackRock Fund Advisors now owns 2,109,192 shares of the bank’s stock valued at $151,735,000 after buying an additional 183,239 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Cullen/Frost Bankers by 2.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,635,409 shares of the bank’s stock valued at $117,651,000 after buying an additional 38,944 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Cullen/Frost Bankers by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 644,032 shares of the bank’s stock valued at $46,332,000 after buying an additional 12,922 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Cullen/Frost Bankers during the third quarter valued at approximately $45,712,000. Finally, Principal Financial Group Inc. increased its stake in shares of Cullen/Frost Bankers by 12.4% in the third quarter. Principal Financial Group Inc. now owns 622,009 shares of the bank’s stock valued at $44,748,000 after buying an additional 68,866 shares during the period. 81.64% of the stock is owned by hedge funds and other institutional investors.
Cullen/Frost Bankers Company Profile
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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