Q3 2017 EPS Estimates for Cullen/Frost Bankers, Inc. Cut by Jefferies Group (CFR)
Cullen/Frost Bankers, Inc. (NYSE:CFR) – Analysts at Jefferies Group reduced their Q3 2017 EPS estimates for shares of Cullen/Frost Bankers in a research report issued to clients and investors on Monday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings of $1.34 per share for the quarter, down from their previous forecast of $1.36. Jefferies Group currently has a “Hold” rating and a $95.00 price target on the stock. Jefferies Group also issued estimates for Cullen/Frost Bankers’ Q4 2017 earnings at $1.32 EPS.
A number of other brokerages have also commented on CFR. Maxim Group reissued a “buy” rating and set a $105.00 price target on shares of Cullen/Frost Bankers in a report on Thursday, July 27th. Stephens set a $97.00 price target on Cullen/Frost Bankers and gave the company a “hold” rating in a report on Thursday, July 27th. BidaskClub raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Zacks Investment Research lowered Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Cullen/Frost Bankers in a report on Tuesday, July 4th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $95.13.
Cullen/Frost Bankers (CFR) opened at 96.75 on Wednesday. The stock’s 50 day moving average is $89.32 and its 200-day moving average is $91.36. The firm has a market capitalization of $6.21 billion, a PE ratio of 19.06 and a beta of 1.35. Cullen/Frost Bankers has a 1-year low of $69.86 and a 1-year high of $99.20.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.29. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. The business had revenue of $295.87 million for the quarter, compared to analysts’ expectations of $316.40 million. During the same period in the prior year, the company posted $1.11 EPS.
A number of large investors have recently added to or reduced their stakes in CFR. Parallax Volatility Advisers L.P. grew its holdings in Cullen/Frost Bankers by 124.1% during the second quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock worth $102,000 after acquiring an additional 602 shares during the period. Invictus RG acquired a new position in Cullen/Frost Bankers during the first quarter worth about $109,000. Tower Research Capital LLC TRC acquired a new position in Cullen/Frost Bankers during the second quarter worth about $114,000. Westwood Holdings Group Inc. acquired a new position in Cullen/Frost Bankers during the second quarter worth about $131,000. Finally, Fiduciary Trust Co. acquired a new position in Cullen/Frost Bankers during the second quarter worth about $136,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Tuesday, August 29th. Cullen/Frost Bankers’s payout ratio is currently 44.79%.
About Cullen/Frost Bankers
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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