Cullen/Frost Bankers’ (CFR) Hold Rating Reiterated at Jefferies Group LLC
Cullen/Frost Bankers, Inc. (NYSE:CFR)‘s stock had its “hold” rating restated by stock analysts at Jefferies Group LLC in a research report issued on Friday. They presently have a $95.00 price objective on the bank’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 9.69% from the company’s current price.
CFR has been the subject of several other research reports. Maxim Group reissued a “buy” rating and issued a $105.00 price objective on shares of Cullen/Frost Bankers in a research report on Thursday, July 27th. Zacks Investment Research lowered shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Raymond James Financial, Inc. lowered shares of Cullen/Frost Bankers from a “market perform” rating to an “underperform” rating in a research report on Thursday. Piper Jaffray Companies reissued a “hold” rating and issued a $100.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, July 28th. Finally, Stephens set a $97.00 price objective on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus target price of $95.33.
Cullen/Frost Bankers (CFR) traded down 0.69% during trading on Friday, hitting $86.61. 527,714 shares of the company were exchanged. The company has a 50-day moving average of $93.52 and a 200-day moving average of $92.01. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 17.06 and a beta of 1.32. Cullen/Frost Bankers has a 12 month low of $67.86 and a 12 month high of $99.20.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.29. Cullen/Frost Bankers had a net margin of 28.92% and a return on equity of 11.05%. The company had revenue of $295.87 million during the quarter, compared to analyst estimates of $316.40 million. During the same quarter in the prior year, the business earned $1.11 earnings per share. Analysts forecast that Cullen/Frost Bankers will post $5.27 EPS for the current year.
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In related news, Director Graham M. Weston acquired 22,081 shares of Cullen/Frost Bankers stock in a transaction on Tuesday, May 16th. The shares were purchased at an average cost of $90.56 per share, for a total transaction of $1,999,655.36. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 5.15% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Cullen/Frost Bankers by 3,918.0% in the first quarter. BlackRock Inc. now owns 4,695,956 shares of the bank’s stock worth $417,800,000 after buying an additional 4,579,082 shares during the period. Principal Financial Group Inc. increased its position in Cullen/Frost Bankers by 177.5% in the second quarter. Principal Financial Group Inc. now owns 1,830,898 shares of the bank’s stock worth $171,940,000 after buying an additional 1,171,078 shares during the period. Vanguard Group Inc. increased its position in Cullen/Frost Bankers by 16.5% in the first quarter. Vanguard Group Inc. now owns 5,356,366 shares of the bank’s stock worth $476,557,000 after buying an additional 758,710 shares during the period. Crawford Investment Counsel Inc. bought a new position in Cullen/Frost Bankers during the second quarter worth approximately $28,037,000. Finally, Neuberger Berman Group LLC increased its position in Cullen/Frost Bankers by 8.8% in the first quarter. Neuberger Berman Group LLC now owns 2,475,461 shares of the bank’s stock worth $220,242,000 after buying an additional 200,811 shares during the period. Hedge funds and other institutional investors own 80.80% of the company’s stock.
About Cullen/Frost Bankers
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.
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