Cullen/Frost Bankers, Inc. (CFR) Stock Rating Reaffirmed by SunTrust Banks, Inc.
Cullen/Frost Bankers, Inc. (NYSE:CFR)‘s stock had its “buy” rating restated by equities researchers at SunTrust Banks, Inc. in a research report issued to clients and investors on Sunday. They currently have a $115.00 target price on the bank’s stock. SunTrust Banks, Inc.’s price objective suggests a potential upside of 16.17% from the company’s current price.
Several other research firms have also issued reports on CFR. Zacks Investment Research raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Citigroup Inc. upgraded Cullen/Frost Bankers to a “market perform” rating in a research note on Friday. BidaskClub upgraded Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Barclays PLC upped their price objective on Cullen/Frost Bankers from $97.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, July 28th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $93.00 price objective (up previously from $90.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $100.46.
Shares of Cullen/Frost Bankers (NYSE CFR) opened at 98.99 on Friday. The firm has a market capitalization of $6.36 billion, a PE ratio of 19.50 and a beta of 1.35. Cullen/Frost Bankers has a 52-week low of $72.96 and a 52-week high of $103.37. The stock has a 50 day moving average price of $94.51 and a 200-day moving average price of $92.40.
Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 26th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.10. The company had revenue of $300.83 million during the quarter, compared to analyst estimates of $329.62 million. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. During the same period in the prior year, the company posted $1.24 earnings per share. Equities analysts forecast that Cullen/Frost Bankers will post $5.28 EPS for the current year.
Cullen/Frost Bankers announced that its board has initiated a stock repurchase program on Thursday, October 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Several large investors have recently bought and sold shares of CFR. Parallax Volatility Advisers L.P. lifted its position in shares of Cullen/Frost Bankers by 124.1% during the second quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock worth $102,000 after acquiring an additional 602 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Cullen/Frost Bankers during the second quarter worth $114,000. Westwood Holdings Group Inc. purchased a new stake in shares of Cullen/Frost Bankers during the second quarter worth $131,000. Fiduciary Trust Co. purchased a new stake in shares of Cullen/Frost Bankers during the second quarter worth $136,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Cullen/Frost Bankers by 50.6% during the third quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock worth $150,000 after acquiring an additional 531 shares in the last quarter. Hedge funds and other institutional investors own 80.71% of the company’s stock.
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.
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