Cullen/Frost Bankers, Inc. (CFR) Cut to Strong Sell at BidaskClub
Cullen/Frost Bankers, Inc. (NYSE:CFR) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Friday.
Other analysts have also recently issued research reports about the stock. Maxim Group reiterated a “buy” rating and issued a $105.00 price target on shares of Cullen/Frost Bankers in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Tuesday, June 13th. Morgan Stanley boosted their price target on shares of Cullen/Frost Bankers from $89.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 6th. Barclays PLC boosted their price target on shares of Cullen/Frost Bankers from $97.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, July 28th. Finally, Stephens set a $97.00 price target on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Thursday, July 27th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $95.33.
Cullen/Frost Bankers (NYSE:CFR) traded down 0.23% during midday trading on Friday, reaching $87.01. The company’s stock had a trading volume of 130,449 shares. The firm has a market cap of $5.59 billion, a P/E ratio of 17.14 and a beta of 1.32. Cullen/Frost Bankers has a one year low of $67.86 and a one year high of $99.20. The firm has a 50 day moving average price of $93.65 and a 200 day moving average price of $92.02.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, hitting the consensus estimate of $1.29. The company had revenue of $295.87 million during the quarter, compared to the consensus estimate of $316.40 million. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. During the same quarter in the prior year, the firm posted $1.11 EPS. Equities research analysts forecast that Cullen/Frost Bankers will post $5.27 EPS for the current fiscal year.
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In other Cullen/Frost Bankers news, Director Graham M. Weston bought 22,081 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were purchased at an average cost of $90.56 per share, for a total transaction of $1,999,655.36. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.15% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CFR. Invictus RG acquired a new stake in shares of Cullen/Frost Bankers during the first quarter valued at about $109,000. Fiduciary Trust Co. acquired a new stake in shares of Cullen/Frost Bankers during the second quarter valued at about $136,000. Mosaic Family Wealth LLC increased its position in shares of Cullen/Frost Bankers by 2.8% in the first quarter. Mosaic Family Wealth LLC now owns 1,638 shares of the bank’s stock valued at $146,000 after buying an additional 44 shares during the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Cullen/Frost Bankers during the first quarter valued at approximately $156,000. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Cullen/Frost Bankers by 6.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 1,791 shares of the bank’s stock valued at $168,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 80.80% of the company’s stock.
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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