Cullen/Frost Bankers (NYSE: CFR – Get a rating) was upgraded by Compass Point equity researchers from a “neutral” rating to a “buy” rating in a research note released on Monday, Fly reports. The company currently has a price target of $152.00 on the bank’s shares. Compass Point’s price target indicates a potential upside of 11.36% from the company’s current price.
A number of other research companies have also recently commented on the CFR. Raymond James lowered his price target on Cullen/Frost Bankers from $160.00 to $145.00 and set an “outperform” rating on the stock in a Thursday, July 7 report. Wedbush upgraded Cullen/Frost Bankers to a “neutral” rating in a Tuesday, August 9 report. StockNews.com upgraded Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research report on Friday, July 29. Stephens raised its price target on Cullen/Frost Bankers from $133.00 to $145.00 and gave the company an “equal weight” rating in a Tuesday, August 2 research report. Finally, Jefferies Financial Group reduced its price target on Cullen/Frost Bankers from $156.00 to $124.00 in a Monday, July 11 research report. One research analyst gave the stock a sell rating, six gave the stock a hold rating and five gave the stock a buy rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $139.75.
Cullen/Frost Bankers Price Performance
Cullen/Frost Bankers shares opened at $136.49 on Monday. Cullen/Frost Bankers has a 1-year low of $106.66 and a 1-year high of $147.39. The stock’s fifty-day moving average is $122.60 and its 200-day moving average is $131.35. The stock has a market capitalization of $8.75 billion, a P/E ratio of 20.97, a P/E/G ratio of 1.79 and a beta of 1.21. The company has a debt ratio of 0.07, a quick ratio of 0.65 and a current ratio of 0.65.
Cullen/Frost Bankers (NYSE: CFR – Get a rating) last released its quarterly results on Thursday, July 28. The bank reported EPS of $1.81 for the quarter, beating consensus analyst estimates of $1.77 by $0.04. Cullen/Frost Bankers had a return on equity of 11.13% and a net margin of 29.19%. In the same quarter of the previous year, the company achieved EPS of $1.80. Sell-side analysts expect Cullen/Frost Bankers to post earnings per share of 8.04 for the current year.
Insider buying and selling
In related news, Insider Patrick B. Frost sold 18,000 Cullen/Frost Bankers shares in a trade dated Thursday, August 4. The stock was sold at an average price of $128.19, for a total value of $2,307,420.00. Following the completion of the transaction, the insider now owns 206,676 shares of the company, valued at $26,493,796.44. The transaction was disclosed in an SEC filing, available at this hyperlink. 3.76% of the shares are currently held by insiders of the company.
Institutional entries and exits
Several large investors have recently changed their stake in the company. Northwestern Mutual Investment Management Company LLC increased its position in Cullen/Frost Bankers shares by 0.9% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 9,549 shares of the bank valued at $1,112,000 after purchasing 85 additional shares during the period. Arizona State Retirement System increased its position in Cullen/Frost Bankers shares by 0.5% during the first quarter. Arizona State Retirement System now owns 16,362 shares of the bank valued at $2,265,000 after purchasing 87 additional shares during the period. Meeder Asset Management Inc. increased its position in Cullen/Frost Bankers shares by 45.5% during the second quarter. Meeder Asset Management Inc. now owns 288 shares of the bank valued at $34,000 after purchasing an additional 90 shares during the period. Hilton Capital Management LLC increased its position in Cullen/Frost Bankers shares by 4.7% during the fourth quarter. Hilton Capital Management LLC now owns 2,055 shares of the bank valued at $259,000 after purchasing 93 additional shares during the period. Finally, Securian Asset Management Inc. increased its position in Cullen/Frost Bankers shares by 2.4% during the second quarter. Securian Asset Management Inc. now owns 5,201 shares of the bank valued at $606,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 81.69% of the company’s shares.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as a bank holding company for Frost Bank which provides commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The Company provides commercial banking services to corporate and other commercial clients, including industrial and commercial property financing, industrial and commercial property-related interim construction, equipment, inventory and accounts receivable, and acquisitions; commercial lease; and cash management services.
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