Cullen/Frost Bankers (CFR) is Reiterated by Wedbush to Underperform, Raises Price Target to $ 80

Cullen/Frost Bankers (CFR) was Reiterated by Wedbush to “Underperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 80 from a previous price target of $78 . Wedbush advised their investors in a research report released on Nov 30, 2016.

Many Wall Street Analysts have commented on Cullen/Frost Bankers. Company shares were Downgraded by Wedbush on Nov 17, 2016 to ” Underperform”, Firm has raised the Price Target to $ 78 from a previous price target of $72 .Cullen/Frost Bankers was Upgraded by Macquarie to ” Neutral” on Oct 27, 2016. Company shares were Reiterated by RBC Capital Mkts on Oct 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 75 from a previous price target of $70 .

On the company’s financial health, Cullen/Frost Bankers reported $1.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $1.16. The company had revenue of $317.78 million for the quarter, compared to analysts expectations of $317.73 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS.

Cullen/Frost Bankers closed down -0.3 points or -0.37% at $80.54 with 3,93,209 shares getting traded on Tuesday. Post opening the session at $80.65, the shares hit an intraday low of $79.76 and an intraday high of $81.43 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Nov 22, 2016, Jack A Wood (director) sold 36,123 shares at $83.33 per share price. According to the SEC, on Nov 16, 2016, Bobby Berman (Group Executive Vice President) sold 3,937 shares at $83.76 per share price. On Nov 14, 2016, R Denny Alexander (director) sold 10,000 shares at $79.33 per share price, according to the Form-4 filing with the securities and exchange commission.

Cullen/Frost Bankers Inc. (Cullen/Frost) is a financial holding and a bank holding company. The Company through its subsidiaries offers commercial and consumer banking services trust and investment management mutual funds investment banking insurance brokerage leasing treasury management and item processing services. The Company serves industries including energy manufacturing services construction retail telecommunications healthcare military and transportation among others. The Company operates in two segments: Banking and Frost Wealth Advisors. The Banking segment includes commercial and consumer banking services Frost Securities Inc. and Frost Insurance Agency. Commercial banking services are provided to corporations and other business clients. Consumer banking services include direct lending and depository services. The Frost Wealth Advisors segment includes fee-based services within private trust retirement services and financial management services.

Cullen/Frost Bankers

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