JPMorgan said this regional bank is so appealing that it would have attracted the attention from the late Charlie Munger.
JPMorgan said this regional bank is so appealing that it would have attracted attention from the late Charlie Munger. "When we think of the late, great Charlie Munger and his mantra to 'buy wonderful businesses at fair prices,' the bank that fits this bill in our view is Cullen Frost," the firm's bank analyst Steven Alexopoulos said in a note. Berkshire Hathaway's vice chairman died in November about one month shy of his 100th birthday.
CFR YTD mountain Cullen/Frost Bankers Last month, Cullen/Frost Bankers , headquartered San Antonio, Texas, posted an earnings miss for the first quarter, triggering a big sell-off in the stock, according to FactSet. However, JPMorgan said the bank's "strong organic growth story" remained fully intact. Specifically, the analyst said Cullen/Frost's loan growth continued to grow at a 11% annualized pace last quarter, whereas most of its peers saw stagnation in the area.
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