Cullen/Frost Bankers (NYSE:CFR) Upgraded to "Overweight" at Stephens

Key Points

• Stephens upgraded Cullen/Frost Bankers from "equal weight" to "overweight" and set a $164 price target, implying roughly a 17.6% upside from the prior close.
• CFR beat expectations for the quarter with $2.65 EPS versus $2.49 expected and $1.04 billion in revenue, posting a 22.86% net margin and 15.58% ROE.
• Analyst coverage is mixed: the consensus rating is "Hold" with an average target of $144.58 while individual ratings range from sell to strong-buy; the stock trades around $139 with an $8.78 billion market cap.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) was upgraded by equities researchers at Stephens from an "equal weight" rating to an "overweight" rating in a note issued to investors on Tuesday. The brokerage currently has a $164.00 price objective on the bank's stock. Stephens' price objective suggests a potential upside of 17.60% from the stock's previous close.

CFR has been the topic of several other reports. Barclays upped their target price on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 7th. DA Davidson raised their target price on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a "neutral" rating in a report on Monday. TD Cowen upgraded shares of Cullen/Frost Bankers to a "strong-buy" rating in a report on Monday, April 13th. Cantor Fitzgerald raised their target price on shares of Cullen/Frost Bankers from $141.00 to $152.00 and gave the stock a "neutral" rating in a report on Tuesday, March 3rd. Finally, Loop Capital set a $160.00 target price on shares of Cullen/Frost Bankers in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $144.58.

Cullen/Frost Bankers Stock Down 0.6%

Shares of NYSE CFR opened at $139.45 on Tuesday. The firm's 50-day moving average price is $138.96 and its 200-day moving average price is $133.66. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 3.87 and a beta of 0.58. Cullen/Frost Bankers has a 12-month low of $119.00 and a 12-month high of $148.97.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $587.29 million. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. During the same period in the prior year, the company earned $2.30 EPS. On average, equities research analysts anticipate that Cullen/Frost Bankers will post 10.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFR. Root Financial Partners LLC bought a new stake in Cullen/Frost Bankers during the 3rd quarter valued at about $26,000. GoalVest Advisory LLC bought a new stake in Cullen/Frost Bankers during the 3rd quarter valued at about $28,000. Advisory Services Network LLC bought a new stake in Cullen/Frost Bankers during the 3rd quarter valued at about $28,000. Covestor Ltd lifted its holdings in Cullen/Frost Bankers by 67.6% during the 4th quarter. Covestor Ltd now owns 248 shares of the bank's stock valued at $31,000 after buying an additional 100 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Cullen/Frost Bankers by 252.1% during the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank's stock valued at $33,000 after buying an additional 184 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.

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