SunTrust Banks Lowers Cullen/Frost Bankers (CFR) Price Target to $105.00

Cullen/Frost Bankers (NYSE:CFR) had its price objective dropped by analysts at SunTrust Banks from $124.00 to $105.00 in a research note issued on Monday, The Fly reports. The brokerage currently has a “buy” rating on the bank’s stock. SunTrust Banks’ target price points to a potential upside of 8.06% from the stock’s current price.

Several other analysts have also recently weighed in on CFR. Zacks Investment Research cut shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Stephens set a $101.00 price objective on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Monday. ValuEngine cut shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $118.00 target price on shares of Cullen/Frost Bankers in a report on Friday, July 27th. Finally, Morgan Stanley restated a “hold” rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a report on Tuesday, September 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $116.89.

Shares of Cullen/Frost Bankers stock opened at $97.17 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers has a twelve month low of $90.02 and a twelve month high of $121.66. The firm has a market capitalization of $5.96 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.44 and a beta of 1.33.



Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, October 25th. The bank reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Cullen/Frost Bankers had a net margin of 32.11% and a return on equity of 13.74%. The company had revenue of $353.34 million for the quarter, compared to analysts’ expectations of $337.41 million. During the same quarter in the previous year, the firm posted $1.41 earnings per share. As a group, sell-side analysts predict that Cullen/Frost Bankers will post 6.8 earnings per share for the current fiscal year.

In other news, Director Carlos Alvarez bought 54,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average price of $93.71 per share, for a total transaction of $5,060,340.00. Following the completion of the acquisition, the director now directly owns 386,500 shares in the company, valued at $36,218,915. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.64% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in Cullen/Frost Bankers by 5.7% in the second quarter. Bank of America Corp DE now owns 662,987 shares of the bank’s stock valued at $71,762,000 after buying an additional 35,835 shares during the period. Twin Capital Management Inc. raised its holdings in shares of Cullen/Frost Bankers by 2.8% during the second quarter. Twin Capital Management Inc. now owns 33,750 shares of the bank’s stock valued at $3,653,000 after purchasing an additional 930 shares during the period. Millennium Management LLC acquired a new position in shares of Cullen/Frost Bankers during the second quarter valued at about $21,089,000. Envestnet Asset Management Inc. raised its holdings in shares of Cullen/Frost Bankers by 3.2% during the second quarter. Envestnet Asset Management Inc. now owns 25,518 shares of the bank’s stock valued at $2,762,000 after purchasing an additional 790 shares during the period. Finally, WealthPLAN Partners LLC raised its holdings in shares of Cullen/Frost Bankers by 25.0% during the second quarter. WealthPLAN Partners LLC now owns 24,817 shares of the bank’s stock valued at $2,687,000 after purchasing an additional 4,961 shares during the period. Institutional investors and hedge funds own 78.97% of the company’s stock.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.

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