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Cullen/Frost Bankers, Inc. Message Board

  • bgh92109 bgh92109 Feb 15, 2000 6:53 PM Flag

    CFR Stock Purchase

    I'm new to this board and see that it's not very
    active. Hope it turns out to be a good one.

    When
    the Fed appears to have stopped raising rates and it
    might be a good time to get into financial stocks, I'm
    looking at CFR as a strong possibility. It appears to be
    a very well run bank and a likely takeover target.
    The biggest concern I have is that it is not real
    cheap, even at these prices. It's not directly
    comparable, of course, but WAMU is trading a less that half
    of CFR's P/E.

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    • (+) CFR is in a relatively diverse economic
      environment for a regional bank. (-) However, it is somewhat
      susceptable to oil prices and the Mexican economy. (+) It has
      historically stable management. (-) But it is run out of San
      Antonio in a somewhat laidback fashion, retarding its
      ability to respond to opportunities in the more
      cosmopolitan areas of Texas, like Houston and
      Dallas.

      As far as a takeover targer, it was involved in the
      first planned merger in US history which the Federal
      Reserve Bank refused to approve (1993).

 
CFR
73.41-0.37(-0.50%)May 29 4:01 PMEDT