Raymond James Financial, Inc. Downgrades Cullen/Frost Bankers, Inc. (CFR) to Underperform
Cullen/Frost Bankers, Inc. (NYSE:CFR) was downgraded by equities research analysts at Raymond James Financial, Inc. from a “market perform” rating to an “underperform” rating in a research note issued on Thursday.
Several other brokerages also recently commented on CFR. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Tuesday, June 13th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $99.00 price target (up previously from $93.00) on shares of Cullen/Frost Bankers in a research note on Thursday, April 27th. Stephens set a $97.00 price target on Cullen/Frost Bankers and gave the company a “hold” rating in a research note on Thursday, July 27th. Maxim Group reissued a “buy” rating and issued a $105.00 price target on shares of Cullen/Frost Bankers in a research note on Thursday, July 27th. Finally, BidaskClub raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $95.33.
Shares of Cullen/Frost Bankers (CFR) traded down 2.268% on Thursday, hitting $88.135. The stock had a trading volume of 116,315 shares. Cullen/Frost Bankers has a 12-month low of $67.86 and a 12-month high of $99.20. The firm has a market cap of $5.66 billion, a P/E ratio of 17.363 and a beta of 1.32. The company’s 50-day moving average price is $93.83 and its 200 day moving average price is $92.06.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.29. The business 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 quarter last year, the business posted $1.11 EPS. On average, equities research analysts forecast that Cullen/Frost Bankers will post $5.27 earnings per share for the current fiscal year.
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In other Cullen/Frost Bankers news, Director Graham M. Weston purchased 22,081 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average price of $90.56 per share, for a total transaction of $1,999,655.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.15% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted 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 last quarter. Principal Financial Group Inc. boosted its position in Cullen/Frost Bankers by 177.5% in the second quarter. Principal Financial Group Inc. now owns 1,830,898 shares of the bank’s stock worth $171,940,000 after buying an additional 1,171,078 shares during the last quarter. Vanguard Group Inc. boosted its position in Cullen/Frost Bankers by 16.5% in the first quarter. Vanguard Group Inc. now owns 5,356,366 shares of the bank’s stock worth $476,557,000 after buying an additional 758,710 shares during the last quarter. Crawford Investment Counsel Inc. acquired a new position in Cullen/Frost Bankers during the second quarter worth approximately $28,037,000. Finally, Neuberger Berman Group LLC boosted its position in Cullen/Frost Bankers by 8.8% in the first quarter. Neuberger Berman Group LLC now owns 2,475,461 shares of the bank’s stock worth $220,242,000 after buying an additional 200,811 shares during the last quarter. Institutional investors and hedge funds 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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