Royal Bank of Canada Reiterates “Sector Perform” Rating for Cullen/Frost Bankers (NYSE:CFR)

Cullen/Frost Bankers (NYSE:CFR)‘s stock had its “sector perform” rating restated by stock analysts at Royal Bank of Canada in a research note issued on Friday,Benzinga reports. They presently have a $144.00 price objective on the bank’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 3.31% from the stock’s previous close.

CFR has been the topic of a number of other research reports. Compass Point increased their target price on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods increased their target price on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens increased their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Citigroup increased their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Finally, Maxim Group increased their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $129.00.

Cullen/Frost Bankers Stock Down 0.8 %

Shares of CFR opened at $139.39 on Friday. Cullen/Frost Bankers has a 52 week low of $94.09 and a 52 week high of $147.64. The firm has a market cap of $8.94 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The firm’s 50-day simple moving average is $137.88 and its 200 day simple moving average is $124.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. On average, analysts forecast that Cullen/Frost Bankers will post 8.76 earnings per share for the current year.

Insider Transactions at Cullen/Frost Bankers

In related news, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the transaction, the chief executive officer now owns 94,423 shares of the company’s stock, valued at $13,026,597.08. This represents a 13.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the transaction, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. The trade was a 58.07 % decrease in their position. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Large investors have recently modified their holdings of the business. Covestor Ltd increased its position in shares of Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after buying an additional 141 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cullen/Frost Bankers during the third quarter worth $29,000. Asset Dedication LLC increased its position in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after buying an additional 105 shares during the period. UMB Bank n.a. increased its position in shares of Cullen/Frost Bankers by 45.8% during the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock worth $33,000 after buying an additional 77 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Cullen/Frost Bankers during the third quarter worth $44,000. Institutional investors own 86.90% of the company’s stock.

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.