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

Cullen/Frost Bankers (NYSE:CFR) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks reports.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods increased their price objective on Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Jefferies Financial Group raised Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and increased their target price for the stock from $135.00 to $160.00 in a research note on Monday, July 6th. Royal Bank Of Canada raised their price objective on shares of Cullen/Frost Bankers from $168.00 to $176.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Cantor Fitzgerald boosted their target price on Cullen/Frost Bankers from $158.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Finally, Stephens increased their price target on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and an average target price of $161.75.

Cullen/Frost Bankers Trading Up 0.1%

NYSE:CFR opened at $162.89 on Thursday. The stock has a fifty day moving average price of $162.31 and a 200 day moving average price of $147.91. 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 firm has a market cap of $10.12 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 2.49 and a beta of 0.52. Cullen/Frost Bankers has a 12-month low of $119.00 and a 12-month high of $170.80.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.15. The business had revenue of $576.01 million for the quarter, compared to the consensus estimate of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.During the same quarter in the prior year, the business posted $2.39 EPS. Sell-side analysts anticipate that Cullen/Frost Bankers will post 10.91 earnings per share for the current fiscal year.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Carol Severyn sold 837 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $148.29, for a total transaction of $124,118.73. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CFR. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Cullen/Frost Bankers during the second quarter worth about $904,000. First Eagle Investment Management LLC lifted its stake in Cullen/Frost Bankers by 22.6% in the second quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank’s stock valued at $429,204,000 after buying an additional 511,784 shares during the last quarter. California State Teachers Retirement System lifted its position in Cullen/Frost Bankers by 14,678.3% in the 2nd quarter. California State Teachers Retirement System now owns 10,701,283 shares of the bank’s stock valued at $1,653,562,000 after purchasing an additional 10,628,871 shares during the last quarter. Wedmont Private Capital acquired a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $202,000. Finally, HB Wealth Management LLC grew its stake in shares of Cullen/Frost Bankers by 6.0% in the second quarter. HB Wealth Management LLC now owns 4,752 shares of the bank’s stock worth $734,000 after purchasing an additional 267 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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.