Brokerages Expect Cullen/Frost Bankers, Inc. (CFR) to Announce $1.76 Earnings Per Share

Analysts expect Cullen/Frost Bankers, Inc. (NYSE:CFR) to post $1.76 earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have issued estimates for Cullen/Frost Bankers’ earnings, with the lowest EPS estimate coming in at $1.74 and the highest estimate coming in at $1.81. Cullen/Frost Bankers reported earnings of $1.47 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.7%. The firm is expected to report its next quarterly earnings results on Thursday, January 24th.

According to Zacks, analysts expect that Cullen/Frost Bankers will report full-year earnings of $6.84 per share for the current year, with EPS estimates ranging from $6.80 to $6.89. For the next financial year, analysts expect that the company will report earnings of $7.20 per share, with EPS estimates ranging from $7.11 to $7.25. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Cullen/Frost Bankers.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 25th. The bank reported $1.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.06. Cullen/Frost Bankers had a return on equity of 13.74% and a net margin of 32.11%. The business had revenue of $353.34 million for the quarter, compared to analyst estimates of $337.41 million. During the same quarter in the previous year, the firm earned $1.41 earnings per share.

A number of equities research analysts have recently weighed in on CFR shares. Stephens set a $101.00 price target on Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Monday, October 29th. Morgan Stanley restated a “hold” rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a research note on Tuesday, September 18th. ValuEngine lowered Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Finally, SunTrust Banks dropped their price target on Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $115.56.

In related news, insider Bobby Berman sold 1,391 shares of Cullen/Frost Bankers stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $101.12, for a total transaction of $140,657.92. Following the completion of the sale, the insider now owns 28,112 shares of the company’s stock, valued at $2,842,685.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Samuel G. Dawson bought 3,441 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were purchased at an average cost of $101.63 per share, with a total value of $349,708.83. Following the acquisition, the director now directly owns 4,300 shares of the company’s stock, valued at $437,009. The disclosure for this purchase can be found here. Insiders own 5.15% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in Cullen/Frost Bankers by 70.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,241 shares of the bank’s stock valued at $134,000 after acquiring an additional 511 shares during the period. Cadence Capital Management LLC lifted its holdings in Cullen/Frost Bankers by 7.8% in the third quarter. Cadence Capital Management LLC now owns 7,765 shares of the bank’s stock valued at $811,000 after acquiring an additional 565 shares during the period. Maltese Capital Management LLC lifted its holdings in Cullen/Frost Bankers by 0.4% in the second quarter. Maltese Capital Management LLC now owns 158,400 shares of the bank’s stock valued at $17,145,000 after acquiring an additional 600 shares during the period. Virginia Retirement Systems ET AL lifted its holdings in Cullen/Frost Bankers by 3.7% in the third quarter. Virginia Retirement Systems ET AL now owns 16,700 shares of the bank’s stock valued at $1,744,000 after acquiring an additional 600 shares during the period. Finally, Securian Asset Management Inc lifted its holdings in Cullen/Frost Bankers by 8.5% in the third quarter. Securian Asset Management Inc now owns 7,826 shares of the bank’s stock valued at $817,000 after acquiring an additional 610 shares during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

Shares of CFR stock traded down $0.53 during trading hours on Friday, reaching $94.73. 413,812 shares of the company’s stock were exchanged, compared to its average volume of 405,107. Cullen/Frost Bankers has a 1 year low of $90.02 and a 1 year high of $121.66. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.47 and a beta of 1.32. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.63 and a current ratio of 0.63.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Thursday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 49.17%.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.

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

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