Cullen/Frost Bankers (NYSE:CFR) Stock Rating Lowered by Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods downgraded Cullen/Frost Bankers from “outperform” to “market perform,” while maintaining a $175 price target—about 11.14% above the stock’s current price.
• Analyst sentiment is broadly neutral: MarketBeat reports an average “Hold” rating and a consensus price target of $171.55, with four Buy, eight Hold, and one Sell rating.
• Cullen/Frost reported quarterly EPS of $2.84, beating estimates of $2.80, while revenue of $603.83 million fell short of the $610.19 million consensus estimate. Institutional investors own 86.90% of the company’s shares.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) was downgraded by Keefe, Bruyette & Woods from an "outperform" rating to a "market perform" rating in a research note issued to investors on Monday, Briefing.com reports. They currently have a $175.00 price target on the bank's stock. Keefe, Bruyette & Woods's price objective suggests a potential upside of 11.14% from the stock's current price.

Other equities research analysts have also issued reports about the company. Zacks Research lowered Cullen/Frost Bankers from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 3rd. Stephens lifted their price objective on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Barclays boosted their target price on shares of Cullen/Frost Bankers from $160.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Monday, October 5th. Morgan Stanley upped their target price on shares of Cullen/Frost Bankers from $200.00 to $201.00 and gave the company an "overweight" rating in a research note on Monday, September 28th. Finally, DA Davidson raised their price target on shares of Cullen/Frost Bankers from $164.00 to $168.00 and gave the company a "neutral" rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $171.55.

Cullen/Frost Bankers Stock Down 0.1%

CFR stock opened at $157.46 on Monday. The stock has a market capitalization of $9.79 billion, a P/E ratio of 14.65, a PEG ratio of 1.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. Cullen/Frost Bankers has a one year low of $119.14 and a one year high of $170.80. The company has a 50 day moving average price of $157.79 and a two-hundred day moving average price of $148.83.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its earnings results on Thursday, October 29th. The bank reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Cullen/Frost Bankers had a return on equity of 16.27% and a net margin of 23.37%. The firm had revenue of $603.83 million during the quarter, compared to analyst estimates of $610.19 million. During the same period in the prior year, the firm posted $2.67 earnings per share. As a group, sell-side analysts expect that Cullen/Frost Bankers will post 10.97 EPS for the current year.

Institutional Trading of Cullen/Frost Bankers

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Cullen/Frost Bankers during the 2nd quarter valued at $1,133,453,000. Jupiter Topco LLC acquired a new position in Cullen/Frost Bankers during the 2nd quarter worth $94,297,000. William Blair Investment Management LLC bought a new stake in shares of Cullen/Frost Bankers in the 2nd quarter worth about $89,425,000. The Manufacturers Life Insurance Company bought a new stake in shares of Cullen/Frost Bankers in the 2nd quarter worth about $80,127,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Cullen/Frost Bankers in the 2nd quarter worth about $79,846,000. 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. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers personal and commercial deposit accounts, loans, mortgages, treasury management, payments and other business banking services. The company also provides wealth management, trust and investment services, brokerage services and insurance solutions through its related businesses.

Frost traces its history to 1868, when Thomas Claiborne Frost founded the bank in San Antonio.

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