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

Cullen/Frost Bankers (NYSE:CFR)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a report released on Friday,Benzinga reports. They currently have a $144.00 price objective on the bank’s stock. Royal Bank of Canada’s price target indicates a potential upside of 2.14% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Stephens upped their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods raised their price objective on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Maxim Group boosted their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Compass Point increased their target price on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Citigroup lifted their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus target price of $129.00.

Cullen/Frost Bankers Stock Up 0.3 %

Shares of NYSE CFR traded up $0.46 during trading on Friday, hitting $140.99. The stock had a trading volume of 149,577 shares, compared to its average volume of 456,262. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a fifty day moving average of $137.94 and a two-hundred day moving average of $124.54. Cullen/Frost Bankers has a 12 month low of $94.09 and a 12 month high of $147.64. The company has a market capitalization of $9.04 billion, a PE ratio of 17.55, a PEG ratio of 1.71 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. As a group, equities research analysts forecast that Cullen/Frost Bankers will post 8.76 EPS for the current fiscal year.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, 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 value of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares in the company, valued at $399,525.92. This represents a 58.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the transaction, the chief executive officer now owns 94,423 shares of the company’s stock, valued at $13,026,597.08. This trade represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Champlain Investment Partners LLC raised its holdings in shares of Cullen/Frost Bankers by 7.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock valued at $381,897,000 after acquiring an additional 244,445 shares in the last quarter. Montrusco Bolton Investments Inc. raised its stake in Cullen/Frost Bankers by 10.2% in the third quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock valued at $135,252,000 after purchasing an additional 111,719 shares in the last quarter. Geode Capital Management LLC lifted its position in Cullen/Frost Bankers by 6.4% during the third quarter. Geode Capital Management LLC now owns 1,097,697 shares of the bank’s stock valued at $122,820,000 after purchasing an additional 66,223 shares during the last quarter. Boston Trust Walden Corp grew its stake in Cullen/Frost Bankers by 9.8% in the 4th quarter. Boston Trust Walden Corp now owns 1,052,290 shares of the bank’s stock worth $141,270,000 after buying an additional 94,252 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Cullen/Frost Bankers by 2.0% in the 4th quarter. Principal Financial Group Inc. now owns 822,432 shares of the bank’s stock worth $110,418,000 after buying an additional 16,223 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

About Cullen/Frost Bankers

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.