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 note issued to investors on Monday. They currently have a $83.00 price target on the stock. Zacks‘s target price indicates a potential upside of 4.88% from the company’s current price.
Zacks’ analyst wrote, “Cullen/Frost’s first-quarter 2014 earnings lagged the Zacks Consensus Estimate though it was above the prior-year quarter figure. An improvement in the 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 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. “
CFR has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “positive” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, April 30th. Separately, analysts at Jefferies Group raised their price target on shares of Cullen/Frost Bankers from $73.00 to $75.00 in a research note on Friday, April 25th. Finally, analysts at Barclays raised their price target on shares of Cullen/Frost Bankers from $70.00 to $75.00 in a research note on Thursday, April 24th. They now have an “underweight” rating on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average price target of $75.14.
Shares of Cullen/Frost Bankers (NYSE:CFR) traded up 0.18% during mid-day trading on Monday, hitting $79.28. 72,409 shares of the company’s stock traded hands. Cullen/Frost Bankers has a 52 week low of $66.96 and a 52 week high of $80.38. The stock has a 50-day moving average of $76.78 and a 200-day moving average of $75.52. The company has a market cap of $4.829 billion and a P/E ratio of 20.56.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly 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 $4.12 EPS for the current fiscal year.
Cullen/Frost Bankers, Inc (NYSE:CFR) is a financial holding company and a bank holding company.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.