Zacks: Analysts Expect Cullen/Frost Bankers, Inc. (NYSE:CFR) Will Post Earnings of $1.35 Per Share
Wall Street analysts expect Cullen/Frost Bankers, Inc. (NYSE:CFR) to report earnings per share (EPS) of $1.35 for the current fiscal quarter, Zacks 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 posted earnings per share of $1.24 in the same quarter last year, which would indicate a positive year over year growth rate of 8.9%. The company is scheduled to report its next quarterly earnings results 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 year, with EPS estimates ranging from $5.25 to $5.32. For the next fiscal year, analysts anticipate that the firm 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 research analysts that follow Cullen/Frost Bankers.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 EPS for the quarter, hitting analysts’ consensus estimates of $1.29. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. The firm had revenue of $295.87 million for the quarter, compared to analyst estimates of $316.40 million. During the same quarter in the previous year, the business posted $1.11 EPS.
Several equities research analysts have recently issued reports on the company. Maxim Group reissued a “buy” rating and issued a $105.00 price objective on shares of Cullen/Frost Bankers in a report on Thursday, July 27th. Zacks Investment Research lowered Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Piper Jaffray Companies reissued a “hold” rating and issued a $100.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, July 28th. Stephens set a $97.00 price objective on Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, Barclays PLC set a $97.00 price objective on Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Sunday, July 30th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $95.33.
In related news, Director Graham M. Weston purchased 22,081 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were acquired at an average cost of $90.56 per share, with a total value of $1,999,655.36. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.15% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Invictus RG acquired a new position in Cullen/Frost Bankers during the first quarter worth approximately $109,000. Mosaic Family Wealth LLC boosted its position in Cullen/Frost Bankers by 2.8% in the first quarter. Mosaic Family Wealth LLC now owns 1,638 shares of the bank’s stock worth $146,000 after buying an additional 44 shares during the period. Americafirst Capital Management LLC purchased a new position in Cullen/Frost Bankers during the first quarter worth approximately $156,000. Public Employees Retirement Association of Colorado boosted its position in 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 worth $168,000 after buying an additional 107 shares during the period. Finally, Denver Investment Advisors LLC purchased a new position in Cullen/Frost Bankers during the second quarter worth approximately $200,000. 80.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cullen/Frost Bankers (NYSE:CFR) traded down 0.37% during midday trading on Tuesday, hitting $91.42. 195,634 shares of the company were exchanged. The stock has a market cap of $5.87 billion, a PE ratio of 18.01 and a beta of 1.32. The stock’s 50-day moving average is $94.31 and its 200-day moving average is $91.93. Cullen/Frost Bankers has a one year low of $67.86 and a one year high of $99.20.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, August 29th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.49%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 44.79%.
WARNING: “Zacks: Analysts Expect Cullen/Frost Bankers, Inc. (NYSE:CFR) Will Post Earnings of $1.35 Per Share” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/08/08/zacks-analysts-expect-cullenfrost-bankers-inc-nysecfr-will-post-earnings-of-1-35-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cullen/Frost Bankers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.