Cullen/Frost Bankers, Inc. (CFR) Upgraded to “Buy” by ValuEngine
ValuEngine upgraded shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) from a hold rating to a buy rating in a research report sent to investors on Friday morning.
A number of other equities analysts have also issued reports on the company. Zacks Investment Research raised Cullen/Frost Bankers from a sell rating to a hold rating in a research report on Wednesday. Piper Jaffray Companies reaffirmed a hold rating and issued a $96.50 target price on shares of Cullen/Frost Bankers in a research report on Friday, September 1st. Jefferies Group LLC reaffirmed a hold rating and issued a $95.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, August 11th. BidaskClub lowered Cullen/Frost Bankers from a sell rating to a strong sell rating in a research report on Friday, August 11th. Finally, Citigroup Inc. lowered Cullen/Frost Bankers to an underperform rating in a research report 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, twelve have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $95.04.
Cullen/Frost Bankers (NYSE:CFR) traded down 0.76% during mid-day trading on Friday, hitting $90.99. 363,480 shares of the company were exchanged. Cullen/Frost Bankers has a 12 month low of $67.86 and a 12 month high of $99.20. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 17.93 and a beta of 1.33. The firm has a 50 day moving average price of $87.20 and a 200 day moving average price of $90.93.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, July 27th. The bank reported $1.29 EPS for the quarter, hitting the consensus estimate of $1.29. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. The firm had revenue of $295.87 million for the quarter, compared to analyst estimates of $316.40 million. During the same period in the previous year, the company posted $1.11 EPS. Analysts anticipate that Cullen/Frost Bankers will post $5.22 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a dividend of $0.57 per share. The ex-dividend date was Tuesday, August 29th. This represents a $2.28 dividend on an annualized basis and a yield of 2.51%. Cullen/Frost Bankers’s payout ratio is currently 44.79%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC bought a new position in Cullen/Frost Bankers during the 2nd quarter worth $3,371,000. WFG Advisors LP grew its stake in Cullen/Frost Bankers by 33.4% during the 2nd quarter. WFG Advisors LP now owns 24,392 shares of the bank’s stock worth $2,291,000 after buying an additional 6,108 shares during the last quarter. Cookson Peirce & Co. Inc. grew its stake in Cullen/Frost Bankers by 2.6% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 118,735 shares of the bank’s stock worth $11,150,000 after buying an additional 3,060 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Cullen/Frost Bankers during the 2nd quarter worth $589,000. Finally, Public Employees Retirement System of Ohio grew its stake in Cullen/Frost Bankers by 13.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 26,027 shares of the bank’s stock worth $2,444,000 after buying an additional 3,061 shares during the last quarter. Hedge funds and other institutional investors own 80.72% 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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