Royal Bank Of Canada Issues Pessimistic Forecast for Cullen/Frost Bankers (NYSE:CFR) Stock Price

Key Points

• Royal Bank of Canada lowered Cullen/Frost Bankers’ price target to $175 from $176 while maintaining a “sector perform” rating, implying roughly 16% upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $170.09; five analysts rate the stock a Buy, seven a Hold, and one a Sell.
• CFR shares fell 1% to $150.90, despite the bank reporting quarterly EPS of $2.70, beating the $2.55 consensus estimate. Institutional investors own approximately 86.9% of the company.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) had its target price lowered by analysts at Royal Bank Of Canada from $176.00 to $175.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "sector perform" rating on the bank's stock. Royal Bank Of Canada's target price would indicate a potential upside of 15.97% from the stock's previous close.

CFR has been the topic of a number of other reports. Stephens upped their price objective on Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Raymond James Financial reissued a "market perform" rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods raised their price target on Cullen/Frost Bankers from $165.00 to $175.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Jefferies Financial Group raised shares of Cullen/Frost Bankers from an "underperform" rating to a "hold" rating and increased their target price for the company from $135.00 to $160.00 in a research note on Monday, July 6th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 15th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $170.09.

Cullen/Frost Bankers Stock Down 1.0%

NYSE CFR traded down $1.46 during trading hours on Friday, hitting $150.90. The company's stock had a trading volume of 122,435 shares, compared to its average volume of 555,609. The company has a market capitalization of $9.38 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.30 and a beta of 0.56. Cullen/Frost Bankers has a 52 week low of $119.00 and a 52 week high of $170.80. The company's 50-day simple moving average is $161.43 and its two-hundred day simple moving average is $151.31. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, topping 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 business 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 company posted $2.39 earnings per share. Research analysts anticipate that Cullen/Frost Bankers will post 10.94 EPS for the current fiscal year.

Institutional Trading of Cullen/Frost Bankers

Several institutional investors and hedge funds have recently made changes to their positions in CFR. Symphony Financial Ltd. Co. raised its holdings in 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 during the last quarter. Evolve Private Wealth LLC lifted its position in Cullen/Frost Bankers by 6.0% in the first quarter. Evolve Private Wealth LLC now owns 1,726 shares of the bank's stock valued at $237,000 after buying an additional 98 shares during 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 buying an additional 100 shares during the period. State of Michigan Retirement System increased its position in shares of Cullen/Frost Bankers by 0.7% during the first quarter. State of Michigan Retirement System now owns 15,164 shares of the bank's stock valued at $2,079,000 after acquiring an additional 100 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Cullen/Frost Bankers by 17.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 704 shares of the bank's stock valued at $97,000 after acquiring an additional 107 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

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.

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