Wedbush Reaffirms Neutral Rating for Cullen/Frost Bankers (NYSE:CFR)

Cullen/Frost Bankers (NYSE:CFR)‘s stock had its “neutral” rating reaffirmed by Wedbush in a research note issued on Friday, Benzinga reports. They presently have a $115.00 price target on the bank’s stock. Wedbush’s target price would indicate a potential upside of 4.97% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley boosted their target price on Cullen/Frost Bankers from $109.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Compass Point cut Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $118.00 target price on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. Evercore ISI lifted their price target on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an “underperform” rating in a research report on Thursday, March 28th. Finally, Stephens lifted their price target on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $117.92.

Cullen/Frost Bankers Stock Performance

CFR stock traded down $1.17 during midday trading on Friday, reaching $109.56. The company had a trading volume of 51,529 shares, compared to its average volume of 415,447. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $109.20 and a 200 day moving average price of $103.71. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $120.31. The firm has a market capitalization of $7.04 billion, a PE ratio of 12.01, a P/E/G ratio of 1.45 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 19.66% and a net margin of 22.60%. During the same quarter in the previous year, the firm earned $2.70 EPS. Analysts anticipate that Cullen/Frost Bankers will post 8.49 earnings per share for the current year.

Insider Activity

In related news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the sale, the executive vice president now owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the sale, the executive vice president now owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the sale, the insider now directly owns 96,380 shares in the company, valued at $10,543,972. The disclosure for this sale can be found here. 2.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Large investors have recently modified their holdings of the stock. Anchor Investment Management LLC acquired a new position in shares of Cullen/Frost Bankers during the fourth quarter worth approximately $1,069,000. Hsbc Holdings PLC acquired a new position in Cullen/Frost Bankers in the third quarter valued at approximately $1,302,000. Raymond James & Associates lifted its holdings in Cullen/Frost Bankers by 15.1% in the third quarter. Raymond James & Associates now owns 203,802 shares of the bank’s stock valued at $18,589,000 after buying an additional 26,670 shares during the period. SG Americas Securities LLC lifted its holdings in Cullen/Frost Bankers by 92.9% in the third quarter. SG Americas Securities LLC now owns 20,657 shares of the bank’s stock valued at $1,884,000 after buying an additional 9,950 shares during the period. Finally, Aigen Investment Management LP acquired a new position in Cullen/Frost Bankers in the third quarter valued at approximately $530,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.