Cullen/Frost Bankers Inc. (NYSE: CFR) shares rose on Wednesday Nov 30 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
Meanwhile, the Dow Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.
The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.
The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.
Cullen/Frost Bankers Inc. (NYSE: CFR) had its price target boosted by equities researchers at Wedbush from $78.00 to $80.00. With a rating of Underperform on the shares, Cullen/Frost Bankers Inc. has a 52-week high of $86.18. A number of other analysts have spoken on the company recently, and Cullen/Frost Bankers Inc. has secured a consensus one-year price target of $76.31, a decrease compared to the opening price of $82.13, a difference of 9.26 percent.
Shares of Cullen/Frost Bankers Inc. (NYSE: CFR) opened at $82.13 on Tuesday and has traded in a range between, $81.62 and $82.71, and last traded at $82.39, a spike of $1.85 or 2.30% compared to the previous closing price.
Cullen/Frost Bankers Inc. (NYSE: CFR) currently has a market cap of 5.19B.
Cullen/Frost Bankers Inc. (NYSE: CFR) Average Daily Trading Volume
The stock’s average daily volume is 509,666 shares out of a total float 54,945,000 and some 52,639 shares crossed the trading desk yesterday, lower than the average. Swing traders often use upticks in trading volume to pinpoint large volume accumulation or circulation by institutional investors, so look for trading volume to pick up in the coming days.
While an increase in trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a series of days or weeks expresses a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you’re 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.
Traders can make the best trades when they follow the trading habits of professional investors.
With that in mind, Cullen/Frost Bankers Inc. (NYSE: CFR) now has a 50-day MA of $77.40 and 200-day MA of $70.15. It has traded in a 52-week range between $42.41 – 86.18 and today’s last price is 4.40%% lower than the 52 week high of $86.18.
Earnings growth is a critical factor to consider when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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