Cullen/Frost Bankers’s “Hold” Rating Reaffirmed at Wunderlich (CFR)
Cullen/Frost Bankers (NYSE:CFR)‘s stock had its “hold” rating restated by stock analysts at Wunderlich in a report issued on Thursday. They currently have a $80.00 price target on the stock, up from their previous price target of $72.00. Wunderlich’s price target points to a potential upside of 2.62% from the stock’s previous close.
The analysts wrote, “We maintain our Hold rating on shares of Cullen/Frost Bankers, Inc. (CFR) but we are raising our price target by $8 to $80 after the company reported 2Q14 operating results that were well ahead of consensus expectations. 2Q14 results included strong loan and deposit growth, modest NIM expansion and better than expected fee income & expenses, leading to a sequential decline in the core efficiency ratio to 57.2% (vs. 59.1% in 1Q14). Additionally, management guided 2014 consensus to the high-end of the prevailing range, excluding merger related expenses. As the premier commercial lender in Texas, Frost is well positioned for above-average long-term growth. However, much of this future growth is already reflected in the current price, hence our Hold rating.”
Cullen/Frost Bankers (NYSE:CFR) opened at 79.40 on Thursday. Cullen/Frost Bankers has a 52-week low of $68.01 and a 52-week high of $81.02. The stock has a 50-day moving average of $78.76 and a 200-day moving average of $76.43. The company has a market cap of $4.836 billion and a P/E ratio of 20.62.
Cullen/Frost Bankers (NYSE:CFR) last released its earnings data on Wednesday, July 30th. The company reported $1.02 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.01 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 $4.13 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Maxim Group raised their price target on shares of Cullen/Frost Bankers from $86.00 to $90.00 in a research note on Thursday. They now have a “buy” rating on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Cullen/Frost Bankers in a research note on Monday, June 30th. They now have a $83.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $76.00.
Cullen/Frost Bankers, Inc (NYSE:CFR) is a financial holding company and a bank holding company.
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