Cullen/Frost Bankers (NYSE:CFR) was downgraded by Sterne Agee from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $61.50 price target on the stock. Sterne Agee’s price target points to a potential downside of 15.96% from the stock’s previous close. The analysts noted that the move was a valuation call.
Cullen/Frost Bankers (NYSE:CFR) traded down 1.33% on Tuesday, hitting $72.21. Cullen/Frost Bankers has a 52-week low of $53.37 and a 52-week high of $73.99. The stock’s 50-day moving average is currently $69.5. The company has a market cap of $4.361 billion and a price-to-earnings ratio of 19.35.
Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Wednesday, July 24th. The company reported $0.94 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.95 by $0.01. During the same quarter last year, the company posted $0.94 earnings per share. On average, analysts predict that Cullen/Frost Bankers will post $3.78 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Wunderlich raised their price target on shares of Cullen/Frost Bankers from $60.00 to $72.00 in a research note to investors on Friday, July 26th. They now have a “hold” rating on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Cullen/Frost Bankers from $68.00 to $76.00 in a research note to investors on Thursday, July 25th. They now have an “outperform” rating on the stock. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Cullen/Frost Bankers from $58.00 to $65.00 in a research note to investors on Thursday, July 25th. They now have an “underperform” rating on the stock.
Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $64.18.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Wednesday, August 28th.
Cullen/Frost Bankers, Inc (NYSE:CFR) is a financial holding company and a bank holding company.