Bank of America cut shares of Cullen/Frost Bankers (NYSE:CFR) from a neutral rating to an underperform rating in a research note published on Thursday morning, BenzingaRatingsTable reports. Bank of America currently has $87.00 price objective on the bank’s stock, down from their previous price objective of $102.00. The analysts noted that the move was a valuation call.

Other equities analysts have also recently issued research reports about the company. Maxim Group set a $73.00 price objective on Emcor Group and gave the company a hold rating in a research note on Friday, April 26th. Wedbush set a $100.00 price objective on GrubHub and gave the company a buy rating in a research note on Friday, April 26th. Stephens set a $100.00 price objective on Cullen/Frost Bankers and gave the company a hold rating in a research note on Friday, April 26th. Finally, Zacks Investment Research cut GreenTree Hospitality Group from a buy rating to a hold rating in a research note on Monday, May 20th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Cullen/Frost Bankers currently has an average rating of Hold and an average target price of $101.89.

Shares of CFR opened at $93.86 on Thursday. The firm has a 50-day moving average of $93.29. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.92 billion, a PE ratio of 13.60, a PEG ratio of 1.42 and a beta of 1.33. Cullen/Frost Bankers has a 1 year low of $81.87 and a 1 year high of $116.45.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.04. The business had revenue of $367.96 million during the quarter, compared to analysts’ expectations of $366.47 million. Cullen/Frost Bankers had a return on equity of 14.30% and a net margin of 32.16%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 EPS. Research analysts forecast that Cullen/Frost Bankers will post 6.94 EPS for the current fiscal year.

In related news, CFO Jerry Salinas sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $100.98, for a total transaction of $1,211,760.00. Following the completion of the sale, the chief financial officer now owns 24,856 shares in the company, valued at $2,509,958.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles W. Matthews bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average price of $94.32 per share, with a total value of $94,320.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at $282,960. The disclosure for this purchase can be found here. 4.84% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Twin Capital Management Inc. lifted its stake in Cullen/Frost Bankers by 0.3% in the first quarter. Twin Capital Management Inc. now owns 38,050 shares of the bank’s stock valued at $3,694,000 after buying an additional 100 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Cullen/Frost Bankers by 5.6% in the first quarter. Rockefeller Capital Management L.P. now owns 1,916 shares of the bank’s stock valued at $186,000 after purchasing an additional 102 shares during the period. ETF Managers Group LLC increased its holdings in shares of Cullen/Frost Bankers by 9.2% in the first quarter. ETF Managers Group LLC now owns 1,365 shares of the bank’s stock valued at $133,000 after purchasing an additional 115 shares during the period. Cardinal Capital Management increased its holdings in shares of Cullen/Frost Bankers by 1.8% in the first quarter. Cardinal Capital Management now owns 7,628 shares of the bank’s stock valued at $740,000 after purchasing an additional 136 shares during the period. Finally, Synovus Financial Corp increased its holdings in shares of Cullen/Frost Bankers by 4.1% in the first quarter. Synovus Financial Corp now owns 3,528 shares of the bank’s stock valued at $343,000 after purchasing an additional 140 shares during the period. Institutional investors own 80.77% of the company’s stock.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

Recommended Story: Why do companies issue stock splits?

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

Receive News & Ratings for Cullen/Frost Bankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers and related companies with MarketBeat.com's FREE daily email newsletter.