Cullen/Frost Bankers Inc. (CFR) to Post Q3 2016 Earnings of $1.17 Per Share, Wedbush Forecasts
Cullen/Frost Bankers Inc. (NYSE:CFR) – Equities researchers at Wedbush increased their Q3 2016 earnings estimates for Cullen/Frost Bankers in a research note issued to investors on Wednesday. Wedbush analyst now expects that the brokerage will earn $1.17 per share for the quarter, up from their previous estimate of $1.16. Wedbush currently has a “Neutral” rating and a $68.00 price target on the stock. Wedbush also issued estimates for Cullen/Frost Bankers’ FY2016 earnings at $4.55 EPS and FY2017 earnings at $4.72 EPS.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a net margin of 24.81% and a return on equity of 9.67%. During the same quarter in the prior year, the business earned $1.11 earnings per share.
Other equities analysts have also issued reports about the stock. Royal Bank Of Canada raised their price target on shares of Cullen/Frost Bankers from $63.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 28th. Barclays PLC raised their target price on shares of Cullen/Frost Bankers from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Thursday, July 28th. Maxim Group raised their target price on shares of Cullen/Frost Bankers from $70.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, July 28th. RBC Capital Markets reissued a “sector perform” rating and issued a $70.00 target price (up from $63.00) on shares of Cullen/Frost Bankers in a report on Thursday, July 28th. Finally, Zacks Investment Research lowered shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus price target of $67.83.
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Cullen/Frost Bankers (NYSE:CFR) traded down 3.22% during midday trading on Thursday, hitting $70.29. 125,490 shares of the company were exchanged. Cullen/Frost Bankers has a one year low of $42.41 and a one year high of $74.12. The stock has a market capitalization of $4.37 billion, a PE ratio of 16.61 and a beta of 1.11. The firm’s 50-day moving average price is $71.30 and its 200-day moving average price is $65.58.
Several hedge funds and other institutional investors have recently modified their holdings of CFR. Bessemer Group Inc. increased its position in shares of Cullen/Frost Bankers by 5.3% in the first quarter. Bessemer Group Inc. now owns 2,033 shares of the company’s stock worth $112,000 after buying an additional 103 shares during the period. Creative Planning increased its position in shares of Cullen/Frost Bankers by 112.3% in the second quarter. Creative Planning now owns 3,132 shares of the company’s stock worth $200,000 after buying an additional 1,657 shares during the period. Rench Wealth Management Inc. purchased a new position in shares of Cullen/Frost Bankers during the second quarter worth about $204,000. LS Investment Advisors LLC increased its position in shares of Cullen/Frost Bankers by 72.2% in the second quarter. LS Investment Advisors LLC now owns 3,267 shares of the company’s stock worth $208,000 after buying an additional 1,370 shares during the period. Finally, Fruth Investment Management purchased a new position in shares of Cullen/Frost Bankers during the second quarter worth about $216,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.
In other news, insider Richard Kardys sold 25,500 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $69.54, for a total value of $1,773,270.00. Following the transaction, the insider now owns 128,078 shares in the company, valued at approximately $8,906,544.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Phillip D. Green sold 13,500 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $69.42, for a total transaction of $937,170.00. Following the completion of the transaction, the chairman now owns 49,763 shares in the company, valued at approximately $3,454,547.46. The disclosure for this sale can be found here. 8.03% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a $0.54 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.97%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 50.82%.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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