.jpg "Cullen/Frost Bankers (NYSE: CFR)")
Maxim Group analyst Michael Diana reiterated a Buy rating on Cullen/Frost Bankers (CFR) today and set a price target of $110. The company’s shares opened today at $97.80.
Diana wrote:
“1Q19 EPS of $1.79 beat consensus of $1.74, driven by a wider NIM (up 7bps linked-quarter). on hold and LIBOR down, further NIM expansion is unlikely, so we are tempering previous stronger growth expectations. We are lowering our price target to $110, from $115. This equates to 15.3x our newly-introduced 2020 EPS estimate of $7.20 (versus a 2019E P/E multiple of 16.0x for our previous PT), which is inline with best-in-class Smid-Cap banks. Relative to other banks, CFR has superior organic growth prospects and a superior credit culture, in our view.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.1% and a 61.1% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
Currently, the analyst consensus on Cullen/Frost Bankers is a Hold with an average price target of $102.90.
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The company has a one-year high of $121.66 and a one-year low of $81.87. Currently, Cullen/Frost Bankers has an average volume of 293.5K.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is neutral on the stock.
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Cullen/Frost Bankers, Inc. operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services, as well as trust and investment management, mutual funds, investment banking, insurance, brokerage, leasing, asset-based lending, treasury management and item processing services.
