Cullen/Frost Bankers (NYSE:CFR) Now Covered by Wolfe Research

Stock analysts at Wolfe Research initiated coverage on shares of Cullen/Frost Bankers (NYSE:CFR) in a research note issued to investors on Friday, The Fly reports. The firm set an “underperform” rating on the bank’s stock.

CFR has been the subject of a number of other reports. Bank of America restated an “underperform” rating and issued a $60.00 price target (up from $53.00) on shares of Cullen/Frost Bankers in a research note on Friday, May 1st. Compass Point started coverage on Cullen/Frost Bankers in a research note on Tuesday, April 14th. They set a “neutral” rating for the company. Morgan Stanley lifted their target price on Cullen/Frost Bankers from $63.00 to $65.00 and gave the stock an “underweight” rating in a research note on Monday, June 8th. Cfra reduced their target price on Cullen/Frost Bankers from $91.00 to $60.00 and set a “sell” rating for the company in a research note on Monday, May 18th. Finally, SunTrust Banks lifted their target price on Cullen/Frost Bankers from $64.00 to $78.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Six analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $78.80.

CFR stock opened at $72.06 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $72.55 and a two-hundred day moving average price of $74.12. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 3.15 and a beta of 1.66. Cullen/Frost Bankers has a twelve month low of $47.69 and a twelve month high of $99.42.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 30th. The bank reported $1.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.70. The firm had revenue of $347.32 million during the quarter, compared to the consensus estimate of $357.31 million. Cullen/Frost Bankers had a return on equity of 7.38% and a net margin of 27.84%. During the same period last year, the company earned $1.72 earnings per share. On average, equities research analysts anticipate that Cullen/Frost Bankers will post 2.41 EPS for the current fiscal year.

In other news, EVP William L. Perotti sold 9,360 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $78.81, for a total transaction of $737,661.60. Following the completion of the transaction, the executive vice president now owns 100,994 shares of the company’s stock, valued at approximately $7,959,337.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jerry Salinas sold 9,661 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $78.29, for a total value of $756,359.69. Following the transaction, the chief financial officer now directly owns 27,785 shares of the company’s stock, valued at approximately $2,175,287.65. The disclosure for this sale can be found here. 4.75% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp bought a new stake in Cullen/Frost Bankers during the 1st quarter worth $35,000. Arden Trust Co bought a new stake in Cullen/Frost Bankers during the 1st quarter worth $41,000. Canada Pension Plan Investment Board bought a new stake in Cullen/Frost Bankers during the 1st quarter worth $43,000. Tower Research Capital LLC TRC bought a new stake in Cullen/Frost Bankers during the 1st quarter worth $50,000. Finally, First Quadrant L P CA bought a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at about $94,000. Institutional investors and hedge funds own 85.30% of the company’s stock.

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. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

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

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