Morgan Stanley Forecasts Strong Price Appreciation for Cullen/Frost Bankers (NYSE:CFR) Stock

Cullen/Frost Bankers (NYSE:CFR) had its price target lifted by stock analysts at Morgan Stanley from $200.00 to $201.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Morgan Stanley’s price objective would suggest a potential upside of 30.26% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Citigroup boosted their price objective on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Zacks Research lowered Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Raymond James Financial reaffirmed a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Stephens lifted their target price on Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Jefferies Financial Group upgraded Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and upped their price target for the company from $135.00 to $160.00 in a research report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $169.45.

Cullen/Frost Bankers Stock Down 1.3%

NYSE:CFR opened at $154.31 on Monday. Cullen/Frost Bankers has a one year low of $119.00 and a one year high of $170.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $9.59 billion, a PE ratio of 14.59, a P/E/G ratio of 2.39 and a beta of 0.52. The firm’s 50 day simple moving average is $163.01 and its 200 day simple moving average is $150.25.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.15. The firm had revenue of $576.01 million during the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same period in the prior year, the company posted $2.39 EPS. On average, research analysts anticipate that Cullen/Frost Bankers will post 10.94 earnings per share for the current year.

Institutional Investors Weigh In On Cullen/Frost Bankers

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Cullen/Frost Bankers in the second quarter valued at $1,133,453,000. Norges Bank acquired a new stake in Cullen/Frost Bankers during the 4th quarter worth about $92,904,000. Jupiter Topco LLC acquired a new stake in Cullen/Frost Bankers during the 2nd quarter worth about $94,297,000. William Blair Investment Management LLC acquired a new stake in Cullen/Frost Bankers during the 2nd quarter worth about $89,425,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Cullen/Frost Bankers in the 2nd quarter worth about $80,127,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas, and the parent company of Frost Bank. Through Frost, the company provides banking, investment, and financial services to individuals, businesses, and institutions.

Frost Bank offers personal and business deposit accounts, consumer and commercial lending, treasury management, payment services, and other banking products. Its wealth management operations provide trust, investment management, and financial planning services, while the company also offers services related to insurance and investment banking.

Founded in 1868 by Thomas Claiborne Frost, the company has a long history of serving Texas markets.