Barclays Forecasts Strong Price Appreciation for Cullen/Frost Bankers (NYSE:CFR) Stock

Cullen/Frost Bankers (NYSE:CFR) had its target price raised by Barclays from $160.00 to $175.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective indicates a potential upside of 14.37% from the stock’s current price.

Other research analysts have also issued reports about the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 15th. Royal Bank Of Canada upped their price target on Cullen/Frost Bankers from $168.00 to $176.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods increased their price target on Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Cantor Fitzgerald lifted their price objective 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, Zacks Research lowered Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $170.18.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $153.01 on Monday. The company’s 50-day moving average price is $162.01 and its 200-day moving average price is $151.04. 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 company has a market cap of $9.51 billion, a P/E ratio of 14.46, a P/E/G ratio of 2.35 and a beta of 0.56. Cullen/Frost Bankers has a twelve month low of $119.00 and a twelve month high of $170.80.

Cullen/Frost Bankers (NYSE:CFR) last posted 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 net margin of 23.34% and a return on equity of 15.55%. The firm had revenue of $576.01 million for the quarter, compared to analyst estimates of $589.72 million. During the same period in the previous year, the business posted $2.39 earnings per share. On average, sell-side analysts forecast that Cullen/Frost Bankers will post 10.94 earnings per share for the current fiscal year.

Institutional Trading of Cullen/Frost Bankers

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its stake in Cullen/Frost Bankers by 3.8% during the second quarter. State Street Corp now owns 3,218,249 shares of the bank’s stock worth $497,292,000 after acquiring an additional 118,313 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Cullen/Frost Bankers by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 518,552 shares of the bank’s stock valued at $80,127,000 after purchasing an additional 1,755 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Cullen/Frost Bankers in the 2nd quarter valued at $324,000. Engineers Gate Manager LP purchased a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth $607,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Cullen/Frost Bankers by 5.2% during the 2nd quarter. NewEdge Advisors LLC now owns 4,190 shares of the bank’s stock worth $647,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas, and the parent company of Frost Bank. Through Frost, the company provides banking, investment, and financial services to individuals, businesses, and institutions.

Frost Bank offers personal and business deposit accounts, consumer and commercial lending, treasury management, payment services, and other banking products. Its wealth management operations provide trust, investment management, and financial planning services, while the company also offers services related to insurance and investment banking.

Founded in 1868 by Thomas Claiborne Frost, the company has a long history of serving Texas markets.