Zacks: Brokerages Expect Cullen/Frost Bankers, Inc. (CFR) to Announce $1.35 Earnings Per Share

Wall Street analysts predict that Cullen/Frost Bankers, Inc. (NYSE:CFR) will announce earnings of $1.35 per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Cullen/Frost Bankers’ earnings, with the lowest EPS estimate coming in at $1.32 and the highest estimate coming in at $1.39. Cullen/Frost Bankers reported earnings of $1.24 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 8.9%. The business is expected to issue its next earnings report on Wednesday, October 25th.

According to Zacks, analysts expect that Cullen/Frost Bankers will report full year earnings of $5.28 per share for the current fiscal year, with EPS estimates ranging from $5.25 to $5.32. For the next fiscal year, analysts anticipate that the business will report earnings of $5.67 per share, with EPS estimates ranging from $5.50 to $5.95. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Cullen/Frost Bankers.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.29. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. The firm had revenue of $295.87 million for the quarter, compared to the consensus estimate of $316.40 million. During the same period in the previous year, the business earned $1.11 EPS.

CFR has been the topic of several research reports. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a report on Tuesday, May 2nd. Jefferies Group LLC reissued a “hold” rating and set a $95.00 price target on shares of Cullen/Frost Bankers in a report on Friday, July 14th. BidaskClub downgraded shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Piper Jaffray Companies restated a “hold” rating and issued a $100.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, July 28th. Finally, J P Morgan Chase & Co downgraded shares of Cullen/Frost Bankers from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $100.00 to $88.00 in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price of $95.33.

In related news, Director Graham M. Weston acquired 22,081 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average cost of $90.56 per share, for a total transaction of $1,999,655.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.15% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CFR. Invictus RG bought a new position in shares of Cullen/Frost Bankers during the first quarter valued at about $109,000. Mosaic Family Wealth LLC increased its position in shares of Cullen/Frost Bankers by 2.8% in the first quarter. Mosaic Family Wealth LLC now owns 1,638 shares of the bank’s stock valued at $146,000 after buying an additional 44 shares in the last quarter. Americafirst Capital Management LLC bought a new position in shares of Cullen/Frost Bankers during the first quarter valued at about $156,000. Public Employees Retirement Association of Colorado increased its position in shares of Cullen/Frost Bankers by 6.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 1,791 shares of the bank’s stock valued at $168,000 after buying an additional 107 shares in the last quarter. Finally, Denver Investment Advisors LLC bought a new position in shares of Cullen/Frost Bankers during the second quarter valued at about $200,000. Hedge funds and other institutional investors own 80.80% of the company’s stock.

Shares of Cullen/Frost Bankers (NYSE:CFR) traded down 0.37% during mid-day trading on Tuesday, reaching $91.42. The company’s stock had a trading volume of 195,634 shares. Cullen/Frost Bankers has a 52 week low of $67.86 and a 52 week high of $99.20. The company’s 50-day moving average is $94.31 and its 200-day moving average is $91.93. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 18.01 and a beta of 1.32.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $2.28 annualized dividend and a dividend yield of 2.49%. Cullen/Frost Bankers’s dividend payout ratio is currently 44.79%.

TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Expect Cullen/Frost Bankers, Inc. (CFR) to Announce $1.35 Earnings Per Share” was first published by BNB Daily and is the property of of BNB Daily. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. & international copyright law. The original version of this article can be viewed at https://www.baseball-news-blog.com/2017/08/19/zacks-brokerages-expect-cullenfrost-bankers-inc-cfr-to-announce-1-35-earnings-per-share-updated.html.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.

Get a free copy of the Zacks research report on Cullen/Frost Bankers (CFR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cullen/Frost Bankers (NYSE:CFR)

Receive News & Ratings for Cullen/Frost Bankers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply