FBR Capital Markets Increases Cullen/Frost Bankers Price Target to $68.00 (CFR)
Analysts at FBR Capital Markets boosted their price objective on shares of Cullen/Frost Bankers (NYSE:CFR) from $63.00 to $68.00 in a research report issued to clients and investors on Friday. FBR Capital Markets’ price target points to a potential downside of 12.79% from the stock’s previous close.
Shares of Cullen/Frost Bankers (NYSE:CFR) traded down 2.31% during mid-day trading on Friday, hitting $76.17. 626,598 shares of the company’s stock traded hands. Cullen/Frost Bankers has a 52 week low of $68.01 and a 52 week high of $81.02. The stock’s 50-day moving average is $78.7 and its 200-day moving average is $76.45. The company has a market cap of $4.795 billion and a price-to-earnings ratio of 19.79.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.02 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.01 by $0.01. During the same quarter in the prior year, the company posted $0.94 earnings per share. Analysts expect that Cullen/Frost Bankers will post $4.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Wednesday, August 27th.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Cullen/Frost Bankers in a research note on Thursday. They now have a $77.00 price target on the stock, up previously from $73.00. Separately, analysts at Portales Partners upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “sector perform” rating in a research note on Thursday. Finally, analysts at Wunderlich reiterated a “hold” rating on shares of Cullen/Frost Bankers in a research note on Thursday. They now have a $80.00 price target on the stock, up previously from $72.00. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $76.43.
Cullen/Frost Bankers, Inc (NYSE:CFR) is a financial holding company and a bank holding company.
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