Insurance Technology Industry News

TMCNet:  Downgrade Alert for Cullen/Frost Bankers (CFR)

[January 11, 2013]

Downgrade Alert for Cullen/Frost Bankers (CFR)

Jan 11, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Cullen/Frost Bankers (NYSE:CFR) was downgraded from Neutral to Underweight at JP Morgan today. The stock closed yesterday at $57.10 on volume of 534,000 shares, above average daily volume of 428,000. Based on a current price of $57.10, Cullen/Frost Bankers is currently 3.3% above its average consensus analyst price target of $55.23. Cullen/Frost Bankers shares have support at the 200-day moving average (MA) of $56.41 and additional support at the 50-day MA of $55.18.

Cullen/Frost Bankers, Inc. is the holding company for The Frost National Bank. The Bank provides commercial banking, consumer services, investment banking, international banking, trust services, correspondent banking, discount brokerage, and insurance services through a network of offices in Texas.

Cullen/Frost Bankers share prices have moved between a 52-week high of $61.11 and a 52-week low of $53.37 and closed yesterday at 7% above that low price at $57.10 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend is monitoring the recent change of momentum in Cullen/Frost Bankers. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cullen/Frost Bankers in search of a potential trend change.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

[ Back To Insurance Technology Homepage's Homepage ]

FREE Insurance Technology enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!