Cantor Fitzgerald Begins Coverage on Cullen/Frost Bankers (NYSE:CFR)

Key Points

• Cantor Fitzgerald has initiated coverage on Cullen/Frost Bankers with a "neutral" rating and a price target of $138.00, indicating a potential upside of 7.38% from its previous close.
• The bank reported earnings of $2.39 per share for the last quarter, surpassing analyst expectations, with a revenue of $567.83 million.
• Market consensus suggests a rating of "Reduce" for the stock, with 2 analysts recommending a Buy, 10 recommending a Hold, and 3 recommending a Sell.

Equities researchers at Cantor Fitzgerald initiated coverage on shares of Cullen/Frost Bankers (NYSE:CFR - Get Free Report) in a research note issued on Wednesday,Benzinga reports. The firm set a "neutral" rating and a $138.00 price target on the bank's stock. Cantor Fitzgerald's target price suggests a potential upside of 7.38% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a report on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price target for the company. Barclays lowered their target price on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Finally, Raymond James Financial lowered their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Monday, August 4th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of "Reduce" and a consensus target price of $134.00.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $128.52 on Wednesday. The company's 50-day moving average price is $130.94 and its 200-day moving average price is $126.10. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The company has a market cap of $8.27 billion, a P/E ratio of 13.80, a P/E/G ratio of 2.72 and a beta of 0.74. Cullen/Frost Bankers has a twelve month low of $100.31 and a twelve month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.28 by $0.11. The business had revenue of $567.83 million for the quarter, compared to the consensus estimate of $552.04 million. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. During the same period in the previous year, the firm earned $2.21 EPS. On average, sell-side analysts forecast that Cullen/Frost Bankers will post 8.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cullen/Frost Bankers

Large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its stake in shares of Cullen/Frost Bankers by 128.4% during the 2nd quarter. Osaic Holdings Inc. now owns 5,928 shares of the bank's stock worth $756,000 after purchasing an additional 3,333 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth about $2,510,000. Geneos Wealth Management Inc. boosted its stake in shares of Cullen/Frost Bankers by 38.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 507 shares of the bank's stock worth $65,000 after purchasing an additional 141 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Cullen/Frost Bankers by 1.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 439,893 shares of the bank's stock worth $56,544,000 after purchasing an additional 6,946 shares during the last quarter. Finally, Rexford Capital Inc. purchased a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth about $228,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.