Cullen/Frost Bankers (NYSE:CFR) Given New $201.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised Cullen/Frost Bankers’ price target from $200 to $201 and maintained an “overweight” rating, implying 28.33% potential upside from the prior close.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy, eight a Hold and one a Sell, resulting in a consensus “Hold” rating and an average target price of $166.75.
• Cullen/Frost reported quarterly EPS of $2.70, beating the $2.55 consensus estimate, although revenue of $576.01 million fell short of the $589.72 million forecast. Institutional investors own 86.90% of the company.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) had its target price lifted by investment analysts at Morgan Stanley from $200.00 to $201.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an "overweight" rating on the bank's stock. Morgan Stanley's price target points to a potential upside of 28.33% from the company's previous close.

A number of other analysts have also recently commented on CFR. Barclays increased their price target on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 7th. Zacks Research cut shares of Cullen/Frost Bankers from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 3rd. Citigroup raised their target price on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a "sell" rating in a research note on Tuesday, June 30th. TD Cowen boosted their price target on Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada boosted their price target on Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a "sector perform" rating in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of "Hold" and a consensus target price of $166.75.

Cullen/Frost Bankers Stock Down 0.5%

CFR stock opened at $156.63 on Monday. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 2.40 and a beta of 0.52. Cullen/Frost Bankers has a twelve month low of $119.00 and a twelve month high of $170.80. The business has a 50 day moving average price of $163.29 and a two-hundred day moving average price of $149.94. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.The company had revenue of $576.01 million during the quarter, compared to the consensus estimate of $589.72 million. During the same quarter in the prior year, the firm posted $2.39 EPS. Analysts anticipate that Cullen/Frost Bankers will post 10.93 EPS for the current fiscal year.

Institutional Trading of Cullen/Frost Bankers

Several hedge funds have recently added to or reduced their stakes in CFR. Symphony Financial Ltd. Co. increased its stake in shares of Cullen/Frost Bankers by 2.2% in the 2nd quarter. Symphony Financial Ltd. Co. now owns 3,482 shares of the bank's stock valued at $539,000 after acquiring an additional 75 shares in the last quarter. Evolve Private Wealth LLC boosted its stake in Cullen/Frost Bankers by 6.0% during the first quarter. Evolve Private Wealth LLC now owns 1,726 shares of the bank's stock worth $237,000 after acquiring an additional 98 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Cullen/Frost Bankers by 0.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 12,921 shares of the bank's stock worth $1,771,000 after acquiring an additional 100 shares in the last quarter. State of Michigan Retirement System grew its holdings in Cullen/Frost Bankers by 0.7% in the first quarter. State of Michigan Retirement System now owns 15,164 shares of the bank's stock worth $2,079,000 after purchasing an additional 100 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Cullen/Frost Bankers by 17.9% in the first quarter. EverSource Wealth Advisors LLC now owns 704 shares of the bank's stock worth $97,000 after purchasing an additional 107 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers commercial and consumer banking products, including deposit accounts, loans, treasury management, payment services, mortgage lending and online and mobile banking. Through its wealth management operations, the company also provides trust, investment management, brokerage and retirement services.

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