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%.
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.
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