TD Cowen Upgrades Cullen/Frost Bankers (NYSE:CFR) to “Strong-Buy”

Cullen/Frost Bankers (NYSE:CFR) was upgraded by research analysts at TD Cowen to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also weighed in on the company. Loop Capital set a $160.00 price target on Cullen/Frost Bankers in a research report on Monday, February 2nd. Barclays upped their target price on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. Cantor Fitzgerald upped their target price on Cullen/Frost Bankers from $141.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods upped their target price on Cullen/Frost Bankers from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, DA Davidson upped their target price on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $142.25.

Cullen/Frost Bankers Stock Down 0.6%

NYSE:CFR opened at $142.27 on Monday. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 3.96 and a beta of 0.61. Cullen/Frost Bankers has a 1-year low of $109.43 and a 1-year high of $148.97. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average price is $139.35 and its 200 day moving average price is $132.26.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.09. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $578.05 million. Cullen/Frost Bankers had a return on equity of 15.49% and a net margin of 22.21%.During the same period in the previous year, the firm earned $2.36 earnings per share. On average, sell-side analysts forecast that Cullen/Frost Bankers will post 8.85 earnings per share for the current fiscal year.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,000 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $137.07, for a total transaction of $137,070.00. Following the completion of the sale, the executive vice president directly owned 28,406 shares in the company, valued at $3,893,610.42. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.14% of the stock is owned by company insiders.

Institutional Trading of Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CFR. Norges Bank acquired a new stake in Cullen/Frost Bankers in the 4th quarter valued at approximately $92,904,000. Two Sigma Investments LP grew its holdings in Cullen/Frost Bankers by 2,024.4% in the 3rd quarter. Two Sigma Investments LP now owns 373,977 shares of the bank’s stock valued at $47,409,000 after buying an additional 356,373 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Cullen/Frost Bankers by 16,676.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 353,470 shares of the bank’s stock valued at $44,760,000 after buying an additional 351,363 shares during the last quarter. Fiera Capital Corp acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at approximately $29,769,000. Finally, Millennium Management LLC acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at approximately $29,687,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.