Wedbush Reiterates Neutral Rating for Cullen/Frost Bankers (NYSE:CFR)

Cullen/Frost Bankers (NYSE:CFR)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They presently have a $115.00 price objective on the bank’s stock. Wedbush’s price target indicates a potential upside of 7.40% from the stock’s current price. Wedbush also issued estimates for Cullen/Frost Bankers’ Q2 2024 earnings at $2.03 EPS, Q3 2024 earnings at $2.10 EPS, Q4 2024 earnings at $2.22 EPS, FY2024 earnings at $8.50 EPS and Q1 2025 earnings at $2.02 EPS.

A number of other research analysts also recently commented on the company. UBS Group boosted their target price on Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Morgan Stanley boosted their target price on Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Evercore ISI boosted their target price on Cullen/Frost Bankers from $109.00 to $113.00 and gave the company an “underperform” rating in a research note on Thursday, March 28th. Compass Point downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Finally, Keefe, Bruyette & Woods lowered their target price on Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $117.92.

Cullen/Frost Bankers Stock Down 3.3 %

NYSE:CFR opened at $107.08 on Friday. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.33 and a beta of 1.03. Cullen/Frost Bankers has a 1-year low of $82.25 and a 1-year high of $120.31. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average price is $109.17 and its 200 day moving average price is $103.91.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.69% and a net margin of 26.26%. During the same quarter last year, the business earned $2.70 EPS. On average, sell-side analysts forecast that Cullen/Frost Bankers will post 8.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the transaction, the insider now owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the completion of the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The disclosure for this sale can be found here. 2.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Large investors have recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Cullen/Frost Bankers in the 3rd quarter valued at approximately $27,000. ICA Group Wealth Management LLC acquired a new position in shares of Cullen/Frost Bankers in the 4th quarter worth approximately $33,000. Arvest Investments Inc. acquired a new position in shares of Cullen/Frost Bankers in the 4th quarter worth approximately $35,000. CWM LLC raised its holdings in shares of Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after buying an additional 106 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Cullen/Frost Bankers in the 4th quarter worth approximately $43,000. Institutional investors and hedge funds 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.