Cullen/Frost Bankers (NYSE:CFR) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada has raised its price target for Cullen/Frost Bankers from $140 to $144, suggesting a potential upside of 11.21%.
• Analysts have mixed sentiments about the stock, with one issuing a Strong Buy rating, two Buy, nine Hold, and three Sell ratings.
• Cullen/Frost Bankers recently reported quarterly earnings of $2.39 per share, exceeding analyst expectations and showing a 12-month stock price range of $100.31 to $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) had its price target raised by stock analysts at Royal Bank Of Canada from $140.00 to $144.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "sector perform" rating on the bank's stock. Royal Bank Of Canada's price objective points to a potential upside of 11.21% from the company's previous close.

Several other analysts have also weighed in on the stock. Evercore ISI lifted their price objective on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. Morgan Stanley lifted their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an "underweight" rating in a research report on Monday, September 29th. Barclays reduced their price target on shares of 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 reduced their price target on shares of 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 shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They set a "neutral" rating and a $138.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $137.62.

Cullen/Frost Bankers Trading Up 1.3%

Cullen/Frost Bankers stock traded up $1.61 during mid-day trading on Friday, hitting $129.48. 41,008 shares of the stock were exchanged, compared to its average volume of 429,845. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers has a 12 month low of $100.31 and a 12 month high of $147.64. The firm's fifty day simple moving average is $127.03 and its two-hundred day simple moving average is $125.91. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 2.66 and a beta of 0.71.

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, topping the consensus estimate of $2.28 by $0.11. The firm had revenue of $567.83 million during the quarter, compared to analyst estimates 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 quarter last year, the business earned $2.21 EPS. Analysts forecast that Cullen/Frost Bankers will post 8.85 EPS for the current year.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CFR. Norges Bank bought a new stake in Cullen/Frost Bankers in the 2nd quarter valued at about $90,484,000. Impax Asset Management Group plc increased its position in shares of Cullen/Frost Bankers by 350.8% during the first quarter. Impax Asset Management Group plc now owns 518,387 shares of the bank's stock valued at $64,359,000 after buying an additional 403,387 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Cullen/Frost Bankers by 61.6% during the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank's stock valued at $75,833,000 after buying an additional 230,993 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of Cullen/Frost Bankers by 19.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 711,527 shares of the bank's stock valued at $89,083,000 after buying an additional 114,910 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Cullen/Frost Bankers during the first quarter valued at about $12,885,000. 86.90% of the stock is currently owned by institutional investors.

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.

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