TD Cowen Upgrades Cullen/Frost Bankers (NYSE:CFR) to "Strong-Buy"

Key Points

• TD Cowen upgraded Cullen/Frost Bankers (NYSE:CFR) to a "strong-buy" in a research note issued Monday.
• Analyst views remain mixed — MarketBeat shows an average rating of Hold with an average price target of $142.25, while individual targets and ratings range from an underweight/$133 target to outperform/$160 targets.
• Cullen/Frost recently beat quarterly expectations (EPS $2.56 vs. $2.47; revenue $1.05B vs. $578M expected) and reported solid profitability (ROE 15.49%, net margin 22.21%).

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) was upgraded by investment analysts at TD Cowen to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on CFR. Royal Bank Of Canada increased their price target on Cullen/Frost Bankers from $144.00 to $150.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. DA Davidson increased their price target on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a "neutral" rating in a research note on Friday, January 30th. Loop Capital set a $160.00 price target on Cullen/Frost Bankers in a research note on Monday, February 2nd. Morgan Stanley decreased their price target on Cullen/Frost Bankers from $143.00 to $133.00 and set an "underweight" rating for the company in a research note on Tuesday, March 31st. Finally, Keefe, Bruyette & Woods increased their price target on Cullen/Frost Bankers from $150.00 to $160.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Cullen/Frost Bankers presently has an average rating of "Hold" and an average price target of $142.25.

Cullen/Frost Bankers Price Performance

Shares of CFR opened at $142.27 on Monday. Cullen/Frost Bankers has a 12 month low of $109.43 and a 12 month high of $148.97. The company has a market cap of $8.96 billion, a P/E ratio of 14.34, a PEG ratio of 3.96 and a beta of 0.61. The stock has a fifty day moving average price of $139.35 and a 200 day moving average price of $132.26. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.67 and a quick ratio of 0.67.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.09. Cullen/Frost Bankers had a return on equity of 15.49% and a net margin of 22.21%.The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $578.05 million. During the same quarter in the prior year, the business posted $2.36 earnings per share. On average, research analysts forecast that Cullen/Frost Bankers will post 8.85 earnings per share for the current year.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,000 shares of the company's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $137.07, for a total transaction of $137,070.00. Following the completion of the sale, the executive vice president directly owned 28,406 shares of the company's stock, valued at $3,893,610.42. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new position in Cullen/Frost Bankers during the third quarter valued at $26,000. Advisory Services Network LLC acquired a new position in Cullen/Frost Bankers during the third quarter valued at $28,000. GoalVest Advisory LLC acquired a new position in Cullen/Frost Bankers during the third quarter valued at $28,000. Covestor Ltd raised its position in Cullen/Frost Bankers by 67.6% during the fourth quarter. Covestor Ltd now owns 248 shares of the bank's stock valued at $31,000 after buying an additional 100 shares during the period. Finally, Blue Trust Inc. raised its position in Cullen/Frost Bankers by 252.1% during the fourth quarter. Blue Trust Inc. now owns 257 shares of the bank's stock valued at $33,000 after buying an additional 184 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

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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