Barclays PLC Raises Cullen/Frost Bankers, Inc. (CFR) Price Target to $100.00
Cullen/Frost Bankers, Inc. (NYSE:CFR) had its price target raised by Barclays PLC from $97.00 to $100.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm currently has an “equal weight” rating on the bank’s stock. Barclays PLC’s price target indicates a potential upside of 10.13% from the company’s previous close.
Several other research analysts also recently commented on the company. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a report on Tuesday, May 2nd. Raymond James Financial, Inc. initiated coverage on Cullen/Frost Bankers in a report on Thursday, April 6th. They set a “market perform” rating on the stock. BidaskClub downgraded Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $99.00 target price (up from $93.00) on shares of Cullen/Frost Bankers in a report on Thursday, April 27th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $93.00 target price (up from $90.00) on shares of Cullen/Frost Bankers in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $95.33.
Cullen/Frost Bankers (CFR) opened at 90.80 on Friday. The firm has a 50-day moving average price of $94.78 and a 200 day moving average price of $91.92. Cullen/Frost Bankers has a 1-year low of $65.64 and a 1-year high of $99.20. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 17.89 and a beta of 1.32.
Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 27th. The bank reported $1.29 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.29. The firm had revenue of $295.87 million for the quarter, compared to the consensus estimate of $316.40 million. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. During the same period in the previous year, the business earned $1.11 EPS. Equities analysts predict that Cullen/Frost Bankers will post $5.31 earnings per share for the current year.
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In other Cullen/Frost Bankers news, Director Graham M. Weston acquired 22,081 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were bought at an average cost of $90.56 per share, with a total value of $1,999,655.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.15% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CFR. Palisade Capital Management LLC NJ increased its position in Cullen/Frost Bankers by 4.7% in the first quarter. Palisade Capital Management LLC NJ now owns 218,975 shares of the bank’s stock worth $19,482,000 after buying an additional 9,844 shares during the period. Kempner Capital Management Inc. increased its position in Cullen/Frost Bankers by 63.7% in the first quarter. Kempner Capital Management Inc. now owns 125,872 shares of the bank’s stock worth $11,199,000 after buying an additional 48,996 shares during the period. BlackRock Inc. increased its position in Cullen/Frost Bankers by 3,918.0% in the first quarter. BlackRock Inc. now owns 4,695,956 shares of the bank’s stock worth $417,800,000 after buying an additional 4,579,082 shares during the period. Prudential Financial Inc. increased its position in Cullen/Frost Bankers by 16.2% in the first quarter. Prudential Financial Inc. now owns 224,918 shares of the bank’s stock worth $20,011,000 after buying an additional 31,390 shares during the period. Finally, Bridgewater Associates LP purchased a new position in Cullen/Frost Bankers during the first quarter worth $2,214,000. 80.83% of the stock is currently owned by institutional investors and hedge funds.
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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