Cullen/Frost Bankers, Inc. (NYSE:CFR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, September 13th.
According to Zacks, “Shares of Cullen/Frost have outperformed the industry over the past year. This performance was supported by the company’s impressive earnings surprise history. It hasn’t missed the Zacks Consensus Estimate for earnings in any of the trailing four quarters. With a rising interest rate environment and improving non-interest bearing deposits, the company's net interest income and net interest margin is expected to grow. However, rising costs stemming mainly from expanding franchise are likely to deter bottom-line growth to some extent. Also, the company’s risky loan portfolio keeps us apprehensive.”
A number of other analysts have also weighed in on the stock. ValuEngine lowered shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $96.50 price target on shares of Cullen/Frost Bankers in a research note on Friday, September 1st. BidaskClub downgraded shares of Cullen/Frost Bankers from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $95.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, July 14th. Finally, J P Morgan Chase & Co cut shares of Cullen/Frost Bankers from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $100.00 to $88.00 in a report on Monday, July 31st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $95.13.
Cullen/Frost Bankers (NYSE:CFR) traded up 0.15% during trading on Wednesday, reaching $94.92. The company’s stock had a trading volume of 540,933 shares. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 18.70 and a beta of 1.33. Cullen/Frost Bankers has a 52 week low of $69.63 and a 52 week high of $99.20. The firm has a 50 day moving average of $87.20 and a 200 day moving average of $90.93.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $1.29 EPS for the quarter, meeting the consensus estimate of $1.29. Cullen/Frost Bankers had a net margin of 28.92% and a return on equity of 11.05%. The company had revenue of $295.87 million for the quarter, compared to analyst estimates of $316.40 million. During the same quarter last year, the business earned $1.11 earnings per share. Analysts expect that Cullen/Frost Bankers will post $5.22 EPS for the current year.
Several large investors have recently made changes to their positions in CFR. Vanguard Group Inc. increased its holdings in shares of 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 during the last quarter. BlackRock Inc. lifted its holdings in 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 during the last quarter. FMR LLC boosted its position in Cullen/Frost Bankers by 2.0% during the second 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 during the period. Neuberger Berman Group LLC boosted its position in Cullen/Frost Bankers by 8.8% during the first quarter. Neuberger Berman Group LLC now owns 2,475,461 shares of the bank’s stock worth $220,242,000 after purchasing an additional 200,811 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Cullen/Frost Bankers by 4.9% during the second quarter. JPMorgan Chase & Co. now owns 2,046,915 shares of the bank’s stock valued at $192,225,000 after purchasing an additional 95,236 shares during the last quarter. 80.72% of the stock is owned by institutional investors.
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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