Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities research analysts at Jefferies Financial Group reduced their Q4 2018 EPS estimates for Cullen/Frost Bankers in a research note issued to investors on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will post earnings of $1.72 per share for the quarter, down from their prior estimate of $1.74. Jefferies Financial Group also issued estimates for Cullen/Frost Bankers’ Q1 2019 earnings at $1.70 EPS, Q2 2019 earnings at $1.74 EPS, Q3 2019 earnings at $1.80 EPS, Q4 2019 earnings at $1.81 EPS, FY2019 earnings at $7.05 EPS and FY2020 earnings at $7.40 EPS.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 25th. The bank reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.06. Cullen/Frost Bankers had a net margin of 32.11% and a return on equity of 13.74%. The firm had revenue of $353.34 million during the quarter, compared to the consensus estimate of $337.41 million. During the same quarter last year, the firm earned $1.41 EPS.
Shares of NYSE:CFR opened at $93.68 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers has a 12 month low of $81.87 and a 12 month high of $121.66. The stock has a market capitalization of $6.06 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.32.
Institutional investors have recently bought and sold shares of the stock. First Hawaiian Bank purchased a new stake in Cullen/Frost Bankers in the 3rd quarter worth about $158,000. Point72 Hong Kong Ltd purchased a new position in shares of Cullen/Frost Bankers during the third quarter worth approximately $161,000. Macquarie Group Ltd. purchased a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $184,000. Moody National Bank Trust Division purchased a new position in shares of Cullen/Frost Bankers during the third quarter worth approximately $187,000. Finally, Bridgewater Associates LP purchased a new position in shares of Cullen/Frost Bankers during the third quarter worth approximately $225,000. 78.50% of the stock is currently owned by institutional investors.
In other news, Director Carlos Alvarez acquired 54,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average cost of $93.71 per share, with a total value of $5,060,340.00. Following the transaction, the director now directly owns 386,500 shares of the company’s stock, valued at approximately $36,218,915. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bobby Berman sold 1,391 shares of the 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 directly owns 28,112 shares in the company, valued at $2,842,685.44. The disclosure for this sale can be found here. Insiders purchased a total of 58,441 shares of company stock worth $5,503,429 over the last three months. 4.64% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Friday, November 30th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Thursday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 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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