Cullen/Frost Bankers (NYSE:CFR) Upgraded by Raymond James Financial to "Outperform" Rating

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) was upgraded by investment analysts at Raymond James Financial from a "market perform" rating to an "outperform" rating in a report released on Tuesday, Marketbeat reports. The brokerage currently has a $150.00 price objective on the bank's stock. Raymond James Financial's price target would suggest a potential upside of 10.97% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley cut their target price on Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating for the company in a research note on Thursday, March 13th. Royal Bank Of Canada cut their target price on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Barclays raised their target price on Cullen/Frost Bankers from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Jefferies Financial Group began coverage on Cullen/Frost Bankers in a research note on Wednesday, May 21st. They set an "underperform" rating and a $105.00 target price for the company. Finally, Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price for the company in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $133.36.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $135.17 on Tuesday. Cullen/Frost Bankers has a one year low of $96.94 and a one year high of $147.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $8.69 billion, a PE ratio of 14.84, a P/E/G ratio of 5.19 and a beta of 0.68. The stock has a 50 day moving average price of $127.32 and a 200 day moving average price of $128.69.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The bank reported $2.30 EPS for the quarter, beating the consensus estimate of $2.17 by $0.13. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. The firm had revenue of $560.42 million during the quarter, compared to analysts' expectations of $540.57 million. During the same quarter last year, the firm earned $2.15 earnings per share. Equities research analysts expect that Cullen/Frost Bankers will post 8.85 EPS for the current fiscal year.

Insider Activity at Cullen/Frost Bankers

In other news, CAO Matthew Bradley Henson purchased 1,870 shares of the stock in a transaction dated Friday, May 2nd. The stock was acquired at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the transaction, the chief accounting officer directly owned 5,545 shares in the company, valued at approximately $93,876.85. This represents a 50.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CFR. US Bancorp DE boosted its holdings in Cullen/Frost Bankers by 15.1% in the fourth quarter. US Bancorp DE now owns 4,339 shares of the bank's stock valued at $583,000 after purchasing an additional 568 shares during the period. Proficio Capital Partners LLC acquired a new stake in Cullen/Frost Bankers in the fourth quarter valued at $5,101,000. Arizona State Retirement System raised its stake in Cullen/Frost Bankers by 0.4% in the fourth quarter. Arizona State Retirement System now owns 17,651 shares of the bank's stock valued at $2,370,000 after buying an additional 74 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Cullen/Frost Bankers in the fourth quarter valued at $21,181,000. Finally, Callan Family Office LLC acquired a new stake in Cullen/Frost Bankers in the fourth quarter valued at $239,000. 86.90% of the stock is currently owned by hedge funds and other 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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