Cullen/Frost Bankers (NYSE:CFR) Stock Rating Upgraded by Zacks Research

Cullen/Frost Bankers (NYSE:CFR) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also commented on the company. Cantor Fitzgerald upped their target price on Cullen/Frost Bankers from $154.00 to $158.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Barclays increased their price target on Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 15th. Raymond James Financial reiterated a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. Finally, Jefferies Financial Group upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and boosted their target price for the company from $135.00 to $160.00 in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target of $160.33.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $164.83 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $10.24 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 2.56 and a beta of 0.53. The firm’s fifty day simple moving average is $153.80 and its two-hundred day simple moving average is $144.51. Cullen/Frost Bankers has a 12 month low of $119.00 and a 12 month high of $170.29.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.15. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.The firm had revenue of $608.65 million during the quarter, compared to the consensus estimate of $589.72 million. During the same period last year, the business posted $2.39 EPS. As a group, analysts predict that Cullen/Frost Bankers will post 10.82 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Carol Jean Severyn sold 837 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the transaction, the executive vice president directly owned 12,712 shares of the company’s stock, valued at approximately $1,885,062.48. This represents a 6.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.14% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in Cullen/Frost Bankers by 61.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after purchasing an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cullen/Frost Bankers by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock worth $20,896,000 after buying an additional 15,063 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Cullen/Frost Bankers by 40.8% during the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after buying an additional 106 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Cullen/Frost Bankers by 12.2% in the second quarter. Invesco Ltd. now owns 126,040 shares of the bank’s stock valued at $16,201,000 after buying an additional 13,718 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Cullen/Frost Bankers by 82.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank’s stock valued at $151,000 after buying an additional 532 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

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.