Compass Point Maintains a 'Neutral' on Cullen/Frost Bankers (CFR); Consistent Performer
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Price: $63.90 --0%
Rating Summary:
2 Buy, 5 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 19
Rating Summary:
2 Buy, 5 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 19
Trade CFR Now!
Compass Point maintains a 'Neutral' on Cullen/Frost Bankers (NYSE: CFR) price target raised from $46 to $54.
Analyst,r Mike Turner, said, "With 40%+ of their loan portfolio in C&I loans (and a historically low line usage rate), a footprint in the Texas market, and strong capital levels, CFR continues to be in a position of strength. Loan growth is set to accelerate in coming quarters and credit quality improvement should lead to near non-existent provision expense. However, lower loan origination and securities yields will offset some of these benefits. Trading at 2.0x TBV and 14.6x our FY13 EPS estimate, we continue to view shares as fairly valued. For the stock to significantly outperform, we believe they would need to deploy their excess capital into an accretive acquisition or line utilization will need to increase."
"We are increasing our FY12/13 EPS estimates from $3.56 and $3.68 to $3.91 and $3.98, respectively, due mostly to lower provision expense."
For an analyst ratings summary and ratings history on Cullen/Frost Bankers click here. For more ratings news on Cullen/Frost Bankers click here.
Shares of Cullen/Frost Bankers closed at $59.16 yesterday, with a 52 week range of $43.57-$61.11.
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Analyst,r Mike Turner, said, "With 40%+ of their loan portfolio in C&I loans (and a historically low line usage rate), a footprint in the Texas market, and strong capital levels, CFR continues to be in a position of strength. Loan growth is set to accelerate in coming quarters and credit quality improvement should lead to near non-existent provision expense. However, lower loan origination and securities yields will offset some of these benefits. Trading at 2.0x TBV and 14.6x our FY13 EPS estimate, we continue to view shares as fairly valued. For the stock to significantly outperform, we believe they would need to deploy their excess capital into an accretive acquisition or line utilization will need to increase."
"We are increasing our FY12/13 EPS estimates from $3.56 and $3.68 to $3.91 and $3.98, respectively, due mostly to lower provision expense."
For an analyst ratings summary and ratings history on Cullen/Frost Bankers click here. For more ratings news on Cullen/Frost Bankers click here.
Shares of Cullen/Frost Bankers closed at $59.16 yesterday, with a 52 week range of $43.57-$61.11.
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