Cullen/Frost Bankers (NYSE:CFR) Rating Increased to Strong-Buy at TD Cowen

Key Points

• Cullen/Frost Bankers received a "strong-buy" rating upgrade from TD Cowen, indicating increased investor confidence in the bank's future performance.
• Despite the upgrade, Barclays and Raymond James have lowered their price targets for the bank's stock, showcasing mixed analyst opinions.
• Cullen/Frost Bankers reported a quarterly EPS of $2.39, exceeding expectations, which reflects its strong earnings potential amidst fluctuating investor sentiments.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) was upgraded by equities researchers at TD Cowen to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

CFR has been the subject of a number of other reports. Barclays cut their price objective on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Raymond James Financial cut their price objective on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Finally, Cantor Fitzgerald started coverage on Cullen/Frost Bankers in a research report on Wednesday, September 10th. They set a "neutral" rating and a $138.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $135.69.

Cullen/Frost Bankers Stock Up 2.1%

Shares of NYSE:CFR opened at $128.20 on Thursday. The business has a 50-day moving average price of $128.66 and a 200 day moving average price of $125.63. 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 capitalization of $8.25 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 2.64 and a beta of 0.74. Cullen/Frost Bankers has a 12-month low of $100.31 and a 12-month high of $147.64.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new position in shares of Cullen/Frost Bankers in the fourth quarter valued at approximately $408,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Cullen/Frost Bankers by 205.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,844 shares of the bank's stock valued at $1,993,000 after purchasing an additional 9,977 shares during the period. GAMMA Investing LLC increased its holdings in shares of Cullen/Frost Bankers by 122,282.2% in the first quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank's stock valued at $125,949,000 after purchasing an additional 1,005,160 shares during the period. Parallel Advisors LLC increased its holdings in shares of Cullen/Frost Bankers by 33.8% in the first quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock valued at $65,000 after purchasing an additional 132 shares during the period. Finally, Fulton Bank N.A. increased its holdings in shares of Cullen/Frost Bankers by 2.6% in the first quarter. Fulton Bank N.A. now owns 5,012 shares of the bank's stock valued at $628,000 after purchasing an additional 126 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

About Cullen/Frost Bankers

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.

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