Cullen/Frost Bankers Inc. (NYSE: CFR) shares rose on Monday Dec 19 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile, the Dow Jones Industrial Average DJIA, +0.22% was trading up 37 points, or 0.2%, at 19,879, inching up to break the psychologically important 20,000 level.
The S&P 500 index SPX, +0.20% was up 6 points, or 0.3% at 2,264, with nine of the 11 main sectors trading higher.
The Nasdaq Composite Index COMP, +0.32% added 18 points, or 0.3% to 5,455.
Cullen/Frost Bankers Inc. (NYSE: CFR) had its price target increased by equities researchers at Maxim Group from $85.00 to $95.00. Maxim Group currently has a rating of Buy on the shares. The one-year price target of $81.88 is a decrease compared to the opening price of $84.75, causing a fair amount of other analysts to report on the company in recent days. Looking back over the last year, Cullen/Frost Bankers Inc. stock has a high of $88.98.
Cullen/Frost Bankers Inc. (NYSE: CFR) shares last traded at $84.64, a jump of $0.07 or 0.08% from the previous closing price. Opening at $84.75, they fluctuated from $84.62 and $85.77 throughout the day.
Cullen/Frost Bankers Inc. (NYSE: CFR) currently has a market cap of 5.33B.
Cullen/Frost Bankers Inc. (NYSE: CFR) Average Daily Trading Volume
The stock’s average daily volume is 525,289 shares out of a total float 54,947,000 and some 74,424 shares traded hands yesterday, lower than normal. Swing traders often use upticks in trading volume to identify large volume aggregation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
However, just a day of high volume buy side trading is not enough to determine a trend. So market traders will continue to watch for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.
Cullen/Frost Bankers Inc. (NYSE: CFR) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, Cullen/Frost Bankers Inc. (NYSE: CFR) now has a 50-day MA of $81.94 and 200-day MA of $72.14. It has traded in a 52-week range between $42.41 – 88.980 and today’s last price is 4.88%% lower than the 52 week high of $88.98.
Earnings growth is a critical factor to research when buying stocks and investors seek companies that have raised their earnings by at least 25% for 3 consecutive years.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.