Cullen/Frost Bankers, Inc. (CFR) Lifted to Hold at Zacks Investment Research
Cullen/Frost Bankers, Inc. (NYSE:CFR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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 has surpassed the Zacks Consensus Estimate for earnings in three 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.”
Several other analysts have also recently commented on the stock. ValuEngine cut shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Piper Jaffray Companies restated a “hold” rating and set a $96.50 price objective on shares of Cullen/Frost Bankers in a research note on Friday, September 1st. Jefferies Group LLC restated a “hold” rating and set a $95.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, August 11th. BidaskClub cut shares of Cullen/Frost Bankers from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Finally, Citigroup Inc. cut shares of Cullen/Frost Bankers to an “underperform” rating in a research note on Thursday, August 10th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus price target of $95.04.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data 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 28.49% and a return on equity of 11.23%. The business had revenue of $295.87 million during the quarter, compared to analysts’ expectations of $316.40 million. During the same period in the previous year, the business posted $1.11 EPS.
Large investors have recently bought and sold shares of the business. Parallax Volatility Advisers L.P. raised its position in Cullen/Frost Bankers by 124.1% during the second quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock worth $102,000 after acquiring an additional 602 shares during the period. Tower Research Capital LLC TRC acquired a new position in Cullen/Frost Bankers during the second quarter worth $114,000. Invictus RG acquired a new position in Cullen/Frost Bankers during the first quarter worth $109,000. Westwood Holdings Group Inc. acquired a new position in Cullen/Frost Bankers during the second quarter worth $131,000. Finally, Fiduciary Trust Co. acquired a new position in Cullen/Frost Bankers during the second quarter worth $136,000. Institutional investors own 80.72% of the company’s stock.
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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