Cullen/Frost Bankers Receives Neutral Rating from Zacks (CFR)
Cullen/Frost Bankers (NYSE:CFR)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. They currently have a $73.00 price objective on the stock. Zacks‘ price objective indicates a potential upside of 4.87% from the company’s current price.
Zacks‘ analyst wrote, “We are initiating coverage on Cullen/Frost with a Neutral rating. The company’s second quarter 2013 earnings were in line with the Zacks Consensus Estimate as well as the prior-year figure. An improvement in top-line was partially offset by higher expenses. Further, provisions for credit losses were on the higher side. Going forward, we expect the company’s profitability to be aided by the growth in loans and deposits. Moreover, its capital deployment activities remained encouraging. However, the prevalent low interest rate environment and surging expenses will continue to restrict bottom-line improvement. Nevertheless, with the ongoing revival of the economy, we expect the company to deliver better earnings.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Cullen/Frost Bankers from $65.00 to $67.00 in a research note to investors on Friday, August 16th. They now have an “underperform” rating on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Cullen/Frost Bankers from $60.00 to $63.00 in a research note to investors on Wednesday, August 14th. They now have an “underperform” rating on the stock. Finally, analysts at Barclays Capital raised their price target on shares of Cullen/Frost Bankers from $68.00 to $70.00 in a research note to investors on Wednesday, August 14th. They now have an “underweight” rating on the stock. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.57.
Shares of Cullen/Frost Bankers (NYSE:CFR) traded down 0.52% during mid-day trading on Tuesday, hitting $69.25. 109,465 shares of the company’s stock traded hands. Cullen/Frost Bankers has a one year low of $53.37 and a one year high of $76.36. The stock has a 50-day moving average of $70.77 and a 200-day moving average of $67.04. The company has a market cap of $4.182 billion and a price-to-earnings ratio of 18.41.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.94 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.95 by $0.01. During the same quarter last year, the company posted $0.94 earnings per share. On average, analysts predict that Cullen/Frost Bankers will post $3.79 earnings per share for the current fiscal year.
Cullen/Frost Bankers, Inc (NYSE:CFR) is a financial holding company and a bank holding company.
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