Cullen/Frost Bankers (NYSE:CFR – Get Free Report)‘s stock had its “market perform” rating reaffirmed by analysts at Raymond James Financial in a research note issued on Wednesday,Benzinga reports.
CFR has been the subject of several other reports. Morgan Stanley increased their price objective on Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an “underweight” rating in a research report on Monday. Cantor Fitzgerald reiterated a “neutral” rating on shares of Cullen/Frost Bankers in a research note on Monday, June 1st. TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. Royal Bank Of Canada raised their price target on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Finally, DA Davidson boosted their price objective on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $150.73.
Read Our Latest Stock Analysis on CFR
Cullen/Frost Bankers Trading Down 0.1%
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last announced its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.16. The firm had revenue of $574.84 million during the quarter, compared to the consensus estimate of $587.28 million. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.During the same quarter in the prior year, the company earned $2.30 EPS. Equities research analysts forecast that Cullen/Frost Bankers will post 10.54 earnings per share for the current year.
Insider Activity at Cullen/Frost Bankers
In related news, EVP Carol Jean Severyn sold 837 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the transaction, the executive vice president directly owned 12,712 shares in the company, valued at approximately $1,885,062.48. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.14% of the company’s stock.
Hedge Funds Weigh In On Cullen/Frost Bankers
A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its position in shares of Cullen/Frost Bankers by 61.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after acquiring an additional 230,993 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cullen/Frost Bankers by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock valued at $20,896,000 after acquiring an additional 15,063 shares during the period. Geneos Wealth Management Inc. grew its position in Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after acquiring an additional 106 shares during the period. Invesco Ltd. raised its stake in Cullen/Frost Bankers by 12.2% during the second quarter. Invesco Ltd. now owns 126,040 shares of the bank’s stock worth $16,201,000 after acquiring an additional 13,718 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Cullen/Frost Bankers by 82.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank’s stock valued at $151,000 after acquiring an additional 532 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.
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.
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