Cullen/Frost Bankers, Inc. (NYSE:CFR)‘s stock had its “buy” rating reissued by investment analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Sunday. They presently have a $115.00 target price on the bank’s stock. SunTrust Banks, Inc.’s price objective would indicate a potential upside of 13.41% from the stock’s previous close.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of 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 reiterated an “equal weight” rating and issued a $93.00 price objective (up previously from $90.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 6th. BidaskClub upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Barclays PLC set a $97.00 price objective on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Sunday, July 30th. Finally, Maxim Group reiterated a “buy” rating and issued a $110.00 price objective on shares of Cullen/Frost Bankers in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $99.46.
Shares of Cullen/Frost Bankers (NYSE:CFR) traded up 0.93% on Friday, hitting $101.40. 749,205 shares of the stock were exchanged. The company has a 50-day moving average price of $94.09 and a 200-day moving average price of $92.25. Cullen/Frost Bankers has a one year low of $72.96 and a one year high of $103.37. The firm has a market capitalization of $6.51 billion, a PE ratio of 19.98 and a beta of 1.35.
Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, October 26th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.10. The company had revenue of $300.83 million during the quarter, compared to analysts’ expectations of $329.62 million. Cullen/Frost Bankers had a net margin of 30.96% and a return on equity of 11.87%. During the same quarter last year, the company posted $1.24 EPS. Equities research analysts expect that Cullen/Frost Bankers will post $5.24 earnings per share for the current year.
Cullen/Frost Bankers declared that its board has approved a stock repurchase plan on Thursday, October 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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A number of hedge funds have recently added to or reduced their stakes in CFR. Parallax Volatility Advisers L.P. grew its holdings in shares of Cullen/Frost Bankers by 124.1% during the 2nd quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock valued at $102,000 after purchasing an additional 602 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Cullen/Frost Bankers during the 2nd quarter valued at approximately $114,000. Westwood Holdings Group Inc. bought a new stake in shares of Cullen/Frost Bankers during the 2nd quarter valued at approximately $131,000. Fiduciary Trust Co. bought a new stake in shares of Cullen/Frost Bankers during the 2nd quarter valued at approximately $136,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Cullen/Frost Bankers by 50.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock valued at $150,000 after purchasing an additional 531 shares during the last quarter. 80.62% of the stock is currently owned by hedge funds and other institutional investors.
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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