Barclays Raises Cullen/Frost Bankers (CFR) Price Target to $110.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective raised by analysts at Barclays from $106.00 to $110.00 in a research note issued to investors on Tuesday, January 2nd, MarketBeat reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays’ target price would indicate a potential upside of 3.53% from the company’s previous close.

Several other research firms have also commented on CFR. Royal Bank of Canada reissued a “hold” rating and issued a $100.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, October 27th. SunTrust Banks reissued a “buy” rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a research report on Sunday, October 29th. JPMorgan Chase & Co. raised their price objective on Cullen/Frost Bankers from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Zacks Investment Research raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Finally, Raymond James Financial raised Cullen/Frost Bankers from an “underperform” rating to a “market perform” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $103.19.

Cullen/Frost Bankers (CFR) traded down $0.53 during trading hours on Tuesday, reaching $106.25. The company’s stock had a trading volume of 609,085 shares, compared to its average volume of 395,105. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.08. Cullen/Frost Bankers has a one year low of $81.09 and a one year high of $108.77. The stock has a market capitalization of $6,710.00, a price-to-earnings ratio of 20.35, a PEG ratio of 1.83 and a beta of 1.33.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, January 25th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.39 by $0.08. Cullen/Frost Bankers had a return on equity of 11.90% and a net margin of 28.86%. The company had revenue of $358.69 million for the quarter, compared to analyst estimates of $351.34 million. During the same period last year, the company posted $1.28 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. research analysts predict that Cullen/Frost Bankers will post 6.13 EPS for the current fiscal year.

Cullen/Frost Bankers announced that its Board of Directors has initiated a share buyback program on Thursday, October 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In related news, insider Candace K. Wolfshohl sold 7,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $94.99, for a total value of $664,930.00. Following the completion of the transaction, the insider now directly owns 9,145 shares in the company, valued at $868,683.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jerry Salinas sold 12,000 shares of Cullen/Frost Bankers stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $99.65, for a total value of $1,195,800.00. Following the completion of the transaction, the chief financial officer now owns 24,184 shares of the company’s stock, valued at $2,409,935.60. The disclosure for this sale can be found here. 5.15% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Parallax Volatility Advisers L.P. grew its stake in Cullen/Frost Bankers by 124.1% in the second quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock worth $102,000 after purchasing an additional 602 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Cullen/Frost Bankers in the second quarter worth about $114,000. Westwood Holdings Group Inc. acquired a new position in Cullen/Frost Bankers in the second quarter worth about $131,000. Fiduciary Trust Co. acquired a new position in Cullen/Frost Bankers in the second quarter worth about $136,000. Finally, Meeder Asset Management Inc. grew its stake in Cullen/Frost Bankers by 50.6% in the third quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock worth $150,000 after purchasing an additional 531 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.

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About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.

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

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