UPDATE: Deutsche Bank Reiterates on Cullen/Frost Bankers on Multiple Positive Factors

In a report published Wednesday, Deutsche Bank analyst Dave Rochester reiterated a Hold rating on Cullen/Frost Bankers CFR, and raised the price target from $70.00 to $74.00. In the report, Deutsche Bank noted, “CYN is more of a growth story, is more asset sensitive, and should grow EPS faster in FY15, justifying a higher P/E vs. CFR (CYN's FY15 P/E is 16.7x vs. CFR's 17.3x). CFR's recent strength due to a modest pick-up in loan growth and the continued appetite for extending duration in the securities book (munis 19% of assets, one of the highest levels in the industry).” Cullen/Frost Bankers closed on Tuesday at $76.24.