Cullen/Frost Bankers (CFR) Downgraded by Bank of America to Neutral

Bank of America downgraded shares of Cullen/Frost Bankers (NYSE:CFR) from a buy rating to a neutral rating in a research note released on Thursday, Marketbeat Ratings reports. They currently have $96.00 price target on the bank’s stock.

Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Cullen/Frost Bankers from a hold rating to a sell rating in a research note on Friday, October 26th. Zacks Investment Research cut shares of Cullen/Frost Bankers from a buy rating to a hold rating in a research note on Thursday, January 3rd. Morgan Stanley dropped their price target on shares of Cullen/Frost Bankers from $103.00 to $99.00 and set an underweight rating on the stock in a research note on Tuesday, December 11th. Stephens set a $101.00 price target on shares of Cullen/Frost Bankers and gave the stock a hold rating in a research note on Monday, October 29th. Finally, SunTrust Banks dropped their price target on shares of Cullen/Frost Bankers from $124.00 to $105.00 and set a buy rating on the stock in a research note on Monday, October 29th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Cullen/Frost Bankers presently has an average rating of Hold and an average target price of $107.11.

Shares of Cullen/Frost Bankers stock opened at $93.68 on Thursday. The stock has a market capitalization of $6.06 billion, a P/E ratio of 17.19, a PEG ratio of 1.39 and a beta of 1.32. Cullen/Frost Bankers has a 1 year low of $81.87 and a 1 year high of $121.66. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.07.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 25th. The bank reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.06. The company had revenue of $353.34 million for the quarter, compared to analysts’ expectations of $337.41 million. Cullen/Frost Bankers had a net margin of 32.11% and a return on equity of 13.74%. During the same quarter in the previous year, the business posted $1.41 EPS. As a group, analysts expect that Cullen/Frost Bankers will post 6.84 earnings per share for the current fiscal year.

In other Cullen/Frost Bankers news, Director Carlos Alvarez purchased 54,000 shares of Cullen/Frost Bankers stock in a transaction dated Friday, October 26th. The stock was purchased at an average price of $93.71 per share, with a total value of $5,060,340.00. Following the transaction, the director now directly owns 386,500 shares of the company’s stock, valued at $36,218,915. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Samuel G. Dawson purchased 3,441 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, November 7th. The shares were acquired at an average cost of $101.63 per share, with a total value of $349,708.83. Following the transaction, the director now directly owns 4,300 shares in the company, valued at $437,009. The disclosure for this purchase can be found here. Insiders have acquired a total of 58,441 shares of company stock worth $5,503,429 in the last 90 days. Company insiders own 4.64% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFR. GSA Capital Partners LLP purchased a new stake in shares of Cullen/Frost Bankers during the 2nd quarter valued at about $492,000. Janus Henderson Group PLC increased its position in shares of Cullen/Frost Bankers by 576.2% during the 2nd quarter. Janus Henderson Group PLC now owns 14,200 shares of the bank’s stock valued at $1,537,000 after purchasing an additional 12,100 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of Cullen/Frost Bankers by 14.6% during the 2nd quarter. Federated Investors Inc. PA now owns 26,122 shares of the bank’s stock valued at $2,827,000 after purchasing an additional 3,336 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Cullen/Frost Bankers by 3.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 25,518 shares of the bank’s stock valued at $2,762,000 after purchasing an additional 790 shares during the last quarter. Finally, BlueMountain Capital Management LLC increased its position in shares of Cullen/Frost Bankers by 471.2% during the 2nd quarter. BlueMountain Capital Management LLC now owns 7,986 shares of the bank’s stock valued at $864,000 after purchasing an additional 6,588 shares during the last quarter. 78.50% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.

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Analyst Recommendations for Cullen/Frost Bankers (NYSE:CFR)

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