Piper Jaffray Companies reiterated their hold rating on shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in a report issued on Friday, October 6th. They currently have a $96.50 price objective on the bank’s stock.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research raised Cullen/Frost Bankers from a hold rating to a buy rating and set a $107.00 price objective for the company in a research note on Friday, July 7th. Morgan Stanley reissued an equal weight rating and set a $93.00 price target (up from $90.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 6th. BidaskClub lowered Cullen/Frost Bankers from a hold rating to a sell rating in a research note on Tuesday, June 27th. Barclays PLC set a $97.00 price target on Cullen/Frost Bankers and gave the company a hold rating in a research note on Sunday, July 30th. Finally, ValuEngine lowered Cullen/Frost Bankers from a buy rating to a hold rating in a research note on Thursday, September 7th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $97.50.
Cullen/Frost Bankers (NYSE CFR) opened at 97.23 on Friday. The firm has a market cap of $6.24 billion, a P/E ratio of 19.15 and a beta of 1.35. Cullen/Frost Bankers has a 52 week low of $71.27 and a 52 week high of $99.20. The firm’s 50-day moving average price is $91.24 and its 200 day moving average price is $91.74.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.29. The firm had revenue of $295.87 million during the quarter, compared to analyst estimates of $316.40 million. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. During the same quarter in the prior year, the company posted $1.11 earnings per share. Equities analysts forecast that Cullen/Frost Bankers will post $5.23 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Cullen/Frost Bankers by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,460,000 shares of the bank’s stock valued at $512,749,000 after acquiring an additional 103,634 shares in the last quarter. BlackRock Inc. boosted its position in shares of Cullen/Frost Bankers by 3.9% in the 2nd quarter. BlackRock Inc. now owns 4,879,258 shares of the bank’s stock worth $458,211,000 after purchasing an additional 183,302 shares in the last quarter. FMR LLC boosted its position in shares of Cullen/Frost Bankers by 2.0% in the 2nd quarter. FMR LLC now owns 4,090,392 shares of the bank’s stock worth $384,130,000 after purchasing an additional 80,709 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cullen/Frost Bankers by 4.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,046,915 shares of the bank’s stock worth $192,225,000 after purchasing an additional 95,236 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Cullen/Frost Bankers by 177.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,830,898 shares of the bank’s stock worth $171,940,000 after purchasing an additional 1,171,078 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.
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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