Cullen/Frost Bankers, Inc. (CFR) Rating Reiterated by Jefferies Group LLC
Cullen/Frost Bankers, Inc. (NYSE:CFR)‘s stock had its “hold” rating restated by Jefferies Group LLC in a report released on Wednesday. They currently have a $103.00 target price on the bank’s stock. Jefferies Group LLC’s target price suggests a potential upside of 7.19% from the company’s previous close. Jefferies Group also issued estimates for Cullen/Frost Bankers’ Q3 2017 earnings at $1.34 EPS, Q4 2017 earnings at $1.32 EPS, FY2017 earnings at $5.23 EPS, FY2018 earnings at $5.60 EPS and FY2019 earnings at $6.05 EPS.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Tuesday. Piper Jaffray Companies reiterated a “hold” rating and issued a $96.50 target price on shares of Cullen/Frost Bankers in a research report on Friday, October 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $95.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, September 29th. ValuEngine upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Finally, BidaskClub lowered Cullen/Frost Bankers from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $95.79.
Shares of Cullen/Frost Bankers (NYSE CFR) traded down 0.68% during mid-day trading on Wednesday, hitting $96.09. 432,380 shares of the stock were exchanged. The stock’s 50 day moving average is $89.32 and its 200-day moving average is $91.36. The stock has a market cap of $6.17 billion, a PE ratio of 18.93 and a beta of 1.35. Cullen/Frost Bankers has a 12 month low of $69.86 and a 12 month high of $99.20.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.29. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. The business had revenue of $295.87 million for the quarter, compared to analyst estimates of $316.40 million. During the same quarter in the previous year, the firm earned $1.11 earnings per share. On average, analysts anticipate that Cullen/Frost Bankers will post $5.21 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Beacon Financial Group raised its stake in Cullen/Frost Bankers by 0.6% in the 3rd quarter. Beacon Financial Group now owns 91,822 shares of the bank’s stock valued at $8,716,000 after purchasing an additional 564 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Cullen/Frost Bankers in the 2nd quarter worth $3,371,000. WFG Advisors LP increased its stake in shares of Cullen/Frost Bankers by 33.4% in the 2nd quarter. WFG Advisors LP now owns 24,392 shares of the bank’s stock worth $2,291,000 after acquiring an additional 6,108 shares during the last quarter. Cookson Peirce & Co. Inc. increased its stake in shares of Cullen/Frost Bankers by 2.6% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 118,735 shares of the bank’s stock worth $11,150,000 after acquiring an additional 3,060 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cullen/Frost Bankers in the 2nd quarter worth $589,000. 80.72% of the stock is owned by hedge funds and other institutional investors.
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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