Zacks Investment Research Lowers Cullen/Frost Bankers, Inc. (CFR) to Hold

Zacks Investment Research lowered shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) from a buy rating to a hold rating in a report issued on Thursday morning.

According to Zacks, “Cullen/Frost's shares outperformed the Zacks categorized Southwest Banks industry over the last six months. Also, the company’s organic growth remains on track with increasing loans and deposits balances. With further rise in interest rates and improving non-interest bearing deposits, the company's net interest income and net interest margin will grow. However, rising costs stemming mainly from expanding franchise are likely to deter bottom-line growth to some extent. Also, substantial exposure to real estate loans and stringent regulations remain near-term threats. Nonetheless, Cullen/Frost’s strong capital position keeps it well poised to continue capital deployment activities.”

Other analysts also recently issued reports about the company. Maxim Group upped their price objective 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. JPMorgan Chase & Co. upgraded Cullen/Frost Bankers from an underweight rating to a neutral rating and upped their price objective for the company from $67.00 to $95.00 in a research report on Thursday, January 5th. SunTrust Banks, Inc. upgraded Cullen/Frost Bankers from a hold rating to a buy rating in a research report on Monday, December 19th. Keefe, Bruyette & Woods set a $94.00 price objective on Cullen/Frost Bankers and gave the company a hold rating in a research report on Monday, April 3rd. Finally, Raymond James Financial, Inc. assumed coverage on Cullen/Frost Bankers in a research note on Thursday, April 6th. They issued a market perform rating for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $82.83.

Shares of Cullen/Frost Bankers (NYSE:CFR) traded down 0.34% during midday trading on Thursday, reaching $90.35. 200,892 shares of the company’s stock traded hands. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 19.21 and a beta of 1.20. The company has a 50-day moving average of $89.17 and a 200-day moving average of $85.37. Cullen/Frost Bankers has a one year low of $57.94 and a one year high of $96.62.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Wednesday, January 25th. The bank reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.06. The company had revenue of $338.40 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.90 earnings per share. Equities research analysts anticipate that Cullen/Frost Bankers will post $5.13 EPS for the current year.

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In other Cullen/Frost Bankers news, Chairman Phillip D. Green sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $93.56, for a total transaction of $1,871,200.00. Following the transaction, the chairman now owns 47,367 shares of the company’s stock, valued at approximately $4,431,656.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bobby Berman sold 7,940 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $93.35, for a total value of $741,199.00. Following the transaction, the insider now directly owns 38,596 shares in the company, valued at approximately $3,602,936.60. The disclosure for this sale can be found here. Insiders sold 46,940 shares of company stock valued at $4,372,799 in the last three months. 8.03% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in Cullen/Frost Bankers by 4,080.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,463 shares of the bank’s stock worth $105,000 after buying an additional 1,428 shares in the last quarter. Mosaic Family Wealth LLC increased its position in Cullen/Frost Bankers by 9.0% in the third quarter. Mosaic Family Wealth LLC now owns 1,594 shares of the bank’s stock worth $115,000 after buying an additional 132 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in Cullen/Frost Bankers by 0.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 1,712 shares of the bank’s stock worth $123,000 after buying an additional 8 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in Cullen/Frost Bankers during the first quarter worth approximately $156,000. Finally, Yorktown Management & Research Co Inc purchased a new position in Cullen/Frost Bankers during the third quarter worth approximately $216,000. 81.64% 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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