Cullen/Frost Bankers, Inc. (NYSE:CFR) was upgraded by Wedbush from an “underperform” rating to a “neutral” rating in a research report issued on Friday. The firm currently has a $92.00 target price on the bank’s stock. Wedbush’s target price points to a potential upside of 0.98% from the stock’s current price.

Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a report on Tuesday, May 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $99.00 price target (up previously from $93.00) on shares of Cullen/Frost Bankers in a report on Thursday, April 27th. Raymond James Financial, Inc. began coverage on Cullen/Frost Bankers in a report on Thursday, April 6th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods set a $94.00 price target on Cullen/Frost Bankers and gave the company a “hold” rating in a report on Monday, April 3rd. Finally, Barclays PLC lifted their price target on Cullen/Frost Bankers from $89.00 to $96.00 and gave the company an “equal weight” rating in a report on Thursday, January 26th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price of $85.33.

Analyst Recommendations for Cullen/Frost Bankers (NYSE:CFR)

Cullen/Frost Bankers (NYSE:CFR) traded up 1.69% on Friday, reaching $91.11. 505,619 shares of the company’s stock were exchanged. Cullen/Frost Bankers has a 1-year low of $57.94 and a 1-year high of $97.56. The company has a market capitalization of $5.83 billion, a PE ratio of 18.54 and a beta of 1.20. The company has a 50 day moving average price of $90.72 and a 200-day moving average price of $88.20.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Wednesday, April 26th. The bank reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $292.21 million during the quarter, compared to analysts’ expectations of $319.56 million. Cullen/Frost Bankers had a return on equity of 10.39% and a net margin of 26.73%. During the same quarter in the previous year, the business earned $1.07 EPS. On average, equities research analysts anticipate that Cullen/Frost Bankers will post $5.30 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a $0.57 dividend. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.54. This represents a $2.28 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, May 26th. Cullen/Frost Bankers’s payout ratio is currently 45.96%.

TRADEMARK VIOLATION WARNING: “Cullen/Frost Bankers, Inc. (CFR) Upgraded by Wedbush to “Neutral”” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The legal version of this report can be read at https://www.americanbankingnews.com/2017/05/20/cullenfrost-bankers-inc-cfr-upgraded-by-wedbush-to-neutral.html.

In other news, Director Graham M. Weston acquired 22,081 shares of Cullen/Frost Bankers stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average cost of $90.56 per share, with a total value of $1,999,655.36. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bobby Berman sold 7,940 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $93.35, for a total value of $741,199.00. Following the completion of the transaction, the insider now directly owns 38,596 shares in the company, valued at $3,602,936.60. The disclosure for this sale can be found here. Insiders own 8.03% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Aristotle Capital Management LLC raised its position in Cullen/Frost Bankers by 3.6% in the first quarter. Aristotle Capital Management LLC now owns 1,734,287 shares of the bank’s stock valued at $154,299,000 after buying an additional 60,197 shares in the last quarter. Janus Capital Management LLC raised its position in Cullen/Frost Bankers by 259.1% in the first quarter. Janus Capital Management LLC now owns 58,900 shares of the bank’s stock valued at $5,240,000 after buying an additional 42,500 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in Cullen/Frost Bankers by 1.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 52,777 shares of the bank’s stock valued at $4,696,000 after buying an additional 504 shares in the last quarter. Paloma Partners Management Co purchased a new position in Cullen/Frost Bankers during the first quarter valued at $206,000. Finally, AQR Capital Management LLC raised its position in Cullen/Frost Bankers by 484.3% in the first quarter. AQR Capital Management LLC now owns 148,868 shares of the bank’s stock valued at $13,245,000 after buying an additional 123,391 shares in the last quarter. 81.64% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.

12 Month Chart for NYSE:CFR

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