Cullen/Frost Bankers, Inc. (NYSE:CFR) had its price target raised by analysts at J P Morgan Chase & Co from $88.00 to $91.00 in a research report issued to clients and investors on Monday, October 30th. The firm presently has a “neutral” rating on the bank’s stock. J P Morgan Chase & Co’s target price suggests a potential downside of 4.41% from the company’s previous close.
Several other research firms also recently commented on CFR. Maxim Group reissued a “buy” rating and set a $105.00 target price on shares of Cullen/Frost Bankers in a report on Thursday, July 27th. Zacks Investment Research cut shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 13th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, October 27th. Raymond James Financial, Inc. cut shares of Cullen/Frost Bankers from a “market perform” rating to an “underperform” rating in a report on Thursday, August 10th. Finally, ValuEngine raised shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average target price of $100.58.
Cullen/Frost Bankers (NYSE:CFR) traded up $1.85 during trading on Monday, reaching $95.20. 310,100 shares of the company were exchanged, compared to its average volume of 461,052. The stock has a market cap of $5,896.40, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.84 and a beta of 1.35. Cullen/Frost Bankers has a 12 month low of $79.76 and a 12 month high of $103.37. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.65 and a quick ratio of 0.65.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.10. The company had revenue of $300.83 million for the quarter, compared to analyst estimates of $329.62 million. Cullen/Frost Bankers had a net margin of 28.86% and a return on equity of 11.64%. During the same period last year, the company posted $1.24 earnings per share. equities analysts predict that Cullen/Frost Bankers will post 5.35 EPS for the current year.
Cullen/Frost Bankers announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
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In related news, insider Bobby Berman sold 41,760 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $100.53, for a total transaction of $4,198,132.80. Following the sale, the insider now directly owns 38,596 shares of the company’s stock, valued at approximately $3,880,055.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.15% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the business. Alps Advisors Inc. increased its position in shares of Cullen/Frost Bankers by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,259 shares of the bank’s stock valued at $494,000 after purchasing an additional 14 shares during the last quarter. Somerset Trust Co boosted its holdings in shares of Cullen/Frost Bankers by 0.4% in the 2nd quarter. Somerset Trust Co now owns 6,938 shares of the bank’s stock valued at $651,000 after buying an additional 29 shares in the last quarter. Mosaic Family Wealth LLC boosted its holdings in shares of Cullen/Frost Bankers by 4.9% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,718 shares of the bank’s stock valued at $161,000 after buying an additional 80 shares in the last quarter. Synovus Financial Corp boosted its holdings in shares of Cullen/Frost Bankers by 2.6% in the 2nd quarter. Synovus Financial Corp now owns 3,254 shares of the bank’s stock valued at $306,000 after buying an additional 84 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in shares of Cullen/Frost Bankers by 6.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 1,791 shares of the bank’s stock valued at $168,000 after buying an additional 107 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.
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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