Cullen/Frost Bankers Given “Neutral” Rating at Zacks (CFR)
Cullen/Frost Bankers (NYSE:CFR)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Thursday, AnalystRatings.Net reports. They currently have a $78.00 target price on the stock. Zacks‘ price objective points to a potential upside of 4.80% from the company’s current price.
Zacks‘ analyst wrote, “Cullen/Frost’s third-quarter 2013 earnings were in line with the Zacks Consensus Estimate, while it was above 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. Further, the WNB Bancshares merger will enable Cullen/Frost to reinforce its Texas franchise and enter the profitable Midland and Odessa markets and thereby aid expansion. 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. “
Cullen/Frost Bankers (NYSE:CFR) traded down 0.98% on Thursday, hitting $73.70. 178,693 shares of the company’s stock traded hands. Cullen/Frost Bankers has a 52-week low of $54.91 and a 52-week high of $76.36. The stock’s 50-day moving average is $72.22 and its 200-day moving average is $70.92. The company has a market cap of $4.459 billion and a P/E ratio of 19.64.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.96 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.96. During the same quarter in the prior year, the company posted $0.95 earnings per share.
A number of other analysts have also recently weighed in on CFR. Analysts at Jefferies Group raised their price target on shares of Cullen/Frost Bankers from $65.00 to $68.00 in a research note to investors on Thursday, October 31st. They now have a “hold” rating on the stock. Analysts at BMO 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 Tuesday, October 8th. They now have an “underperform” rating on the stock. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $66.30.
Cullen/Frost Bankers, Inc (NYSE:CFR) is a financial holding company and a bank holding company.
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