TD Cowen Has Lowered Expectations for Cullen/Frost Bankers (NYSE:CFR) Stock Price

Key Points

• TD Cowen cut its price target for Cullen/Frost Bankers from $185 to $178 while maintaining a “buy” rating, implying 15.42% upside from the prior close.
• Analyst sentiment is mixed: five analysts rate the stock a Buy, seven a Hold, and one a Sell, resulting in a consensus “Hold” rating and an average price target of $168.82.
• CFR shares fell 0.5% to $154.22, despite the bank exceeding quarterly EPS expectations ($2.70 versus $2.55); revenue of $576.01 million was below the $589.72 million consensus estimate.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) had its price objective reduced by analysts at TD Cowen from $185.00 to $178.00 in a research report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the bank's stock. TD Cowen's price objective indicates a potential upside of 15.42% from the stock's previous close.

CFR has been the topic of several other research reports. Morgan Stanley upped their price objective 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. Barclays increased their target price on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. Cantor Fitzgerald boosted their price target on shares of Cullen/Frost Bankers from $158.00 to $175.00 and gave the company a "neutral" rating in a report on Wednesday, August 19th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $168.82.

Cullen/Frost Bankers Stock Down 0.5%

NYSE:CFR traded down $0.82 on Monday, hitting $154.22. 36,294 shares of the company's stock traded hands, compared to its average volume of 557,343. 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 has a 1 year low of $119.00 and a 1 year high of $170.80. The firm has a 50-day moving average price of $162.49 and a 200-day moving average price of $150.70. The company has a market cap of $9.58 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 2.37 and a beta of 0.56.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.15. The company had revenue of $576.01 million for the quarter, compared to the consensus estimate of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.During the same quarter in the prior year, the company earned $2.39 EPS. Equities analysts anticipate that Cullen/Frost Bankers will post 10.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CFR. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Cullen/Frost Bankers during the 2nd quarter worth $37,000. Global Retirement Partners LLC bought a new position in shares of Cullen/Frost Bankers in the second quarter worth about $38,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Cullen/Frost Bankers during the 1st quarter worth about $41,000. GHP Investment Advisors Inc. acquired a new position in shares of Cullen/Frost Bankers during the 1st quarter worth about $53,000. Finally, Root Financial Partners LLC boosted its stake in Cullen/Frost Bankers by 90.0% during the 1st quarter. Root Financial Partners LLC now owns 435 shares of the bank's stock valued at $60,000 after purchasing an additional 206 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

About Cullen/Frost Bankers

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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