Cullen/Frost Bankers Stock Rating Upgraded by Keefe, Bruyette & Woods (CFR)
Cullen/Frost Bankers (NYSE:CFR) was upgraded by investment analysts at Keefe, Bruyette & Woods from an “underperform” rating to a “market perform” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $76.00 price objective on the stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 2.61% from the stock’s previous close.
The analysts wrote, “1Q14 came in-line with consensus although lower than our estimate. EOP/avg loan growth came at 10% LQA, higher than our 7% est. NIM expanded 6 bpts on a higher muni allocation/bond yield. We’re raising 2015E on a higher NIM as we now have CFR increasing muni bonds at YE ’14 to offset the negative impact of expiring swap gains. With the higher EPS, we are upgrading the shares of CFR to Market Perform from Underperform.”
Other equities research analysts have also recently issued reports about the stock. Analysts at S&P Equity Research downgraded shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Thursday, April 10th. They now have a $75.00 price target on the stock. Separately, analysts at Macquarie raised their price target on shares of Cullen/Frost Bankers from $70.00 to $75.00 in a research note on Monday, April 7th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Cullen/Frost Bankers in a research note on Tuesday, April 1st. They now have a $81.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $72.38.
Cullen/Frost Bankers (NYSE:CFR) traded down 1.59% on Thursday, hitting $78.04. 456,525 shares of the company’s stock traded hands. Cullen/Frost Bankers has a 52 week low of $59.57 and a 52 week high of $80.38. The stock’s 50-day moving average is $77.0 and its 200-day moving average is $73.78. The company has a market cap of $4.741 billion and a price-to-earnings ratio of 20.87.
Cullen/Frost Bankers (NYSE:CFR) last released its earnings data on Wednesday, April 23rd. The company reported $0.96 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.98 by $0.02. During the same quarter in the prior year, the company posted $0.91 earnings per share. Analysts expect that Cullen/Frost Bankers will post $4.10 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.61%.
Cullen/Frost Bankers, Inc (NYSE:CFR) is a financial holding company and a bank holding company.
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