Equities analysts predict that Cullen/Frost Bankers, Inc. (NYSE:CFR) will announce earnings per share (EPS) of $1.38 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Cullen/Frost Bankers’ earnings, with the highest EPS estimate coming in at $1.42 and the lowest estimate coming in at $1.34. Cullen/Frost Bankers posted earnings of $1.28 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 7.8%. The company is expected to report its next earnings report on Wednesday, January 24th.
According to Zacks, analysts expect that Cullen/Frost Bankers will report full-year earnings of $5.35 per share for the current financial year, with EPS estimates ranging from $5.20 to $5.42. For the next fiscal year, analysts forecast that the firm will report earnings of $5.69 per share, with EPS estimates ranging from $5.51 to $5.90. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Cullen/Frost Bankers.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 26th. The bank reported $1.41 EPS for the quarter, topping the consensus estimate of $1.31 by $0.10. The business had revenue of $300.83 million during the quarter, compared to the consensus estimate of $329.62 million. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. During the same quarter last year, the company earned $1.24 EPS.
CFR has been the subject of a number of recent research reports. Maxim Group restated a “buy” rating and issued a $105.00 target price on shares of Cullen/Frost Bankers in a research report on Thursday, July 27th. ValuEngine upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. SunTrust Banks, Inc. restated a “buy” rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a research report on Sunday, October 29th. Barclays PLC boosted their target price on Cullen/Frost Bankers from $97.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research downgraded Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $100.58.
In other news, insider Bobby Berman sold 41,760 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $100.53, for a total transaction of $4,198,132.80. Following the transaction, the insider now directly owns 38,596 shares of the company’s stock, valued at $3,880,055.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.15% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC purchased a new stake in Cullen/Frost Bankers in the second quarter worth about $5,119,000. HPM Partners LLC purchased a new stake in Cullen/Frost Bankers in the second quarter worth about $4,070,000. Morgan Stanley increased its position in Cullen/Frost Bankers by 9.5% in the first quarter. Morgan Stanley now owns 187,957 shares of the bank’s stock worth $16,723,000 after buying an additional 16,275 shares in the last quarter. First National Bank of Omaha increased its position in Cullen/Frost Bankers by 4.3% in the second quarter. First National Bank of Omaha now owns 19,075 shares of the bank’s stock worth $1,791,000 after buying an additional 784 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Cullen/Frost Bankers by 4.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 224,812 shares of the bank’s stock worth $21,113,000 after buying an additional 10,325 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.
Shares of Cullen/Frost Bankers (NYSE:CFR) traded up $1.85 on Friday, hitting $95.20. The stock had a trading volume of 310,100 shares, compared to its average volume of 461,052. The company has a market cap of $5,896.40, a P/E ratio of 17.75, a PEG ratio of 1.84 and a beta of 1.35. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.08. Cullen/Frost Bankers has a 12-month low of $79.76 and a 12-month high of $103.37.
Cullen/Frost Bankers announced that its board has approved a stock buyback program on Thursday, October 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 43.35%.
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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