Cullen/Frost Bankers, Inc. (CFR) Expected to Post Quarterly Sales of $342.03 Million

Equities analysts expect that Cullen/Frost Bankers, Inc. (NYSE:CFR) will report $342.03 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Cullen/Frost Bankers’ earnings, with the lowest sales estimate coming in at $307.03 million and the highest estimate coming in at $355.40 million. Cullen/Frost Bankers posted sales of $295.04 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.9%. The company is expected to announce its next quarterly earnings report on Wednesday, January 24th.

On average, analysts expect that Cullen/Frost Bankers will report full year sales of $342.03 million for the current fiscal year, with estimates ranging from $1.37 billion to $1.38 billion. For the next financial year, analysts expect that the company will report sales of $1.44 billion per share, with estimates ranging from $1.42 billion to $1.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Cullen/Frost Bankers.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 26th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.10. The company had revenue of $300.83 million for the quarter, compared to the consensus estimate of $329.62 million. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. During the same quarter in the prior year, the business posted $1.24 earnings per share.

A number of equities analysts have issued reports on CFR shares. Deutsche Bank increased their price target on Cullen/Frost Bankers from $96.00 to $102.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Barclays increased their price target on Cullen/Frost Bankers from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Monday, October 30th. ValuEngine downgraded Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. JPMorgan Chase & Co. increased their price target on Cullen/Frost Bankers from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Finally, Zacks Investment Research downgraded Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $102.04.

In related news, insider Candace K. Wolfshohl sold 7,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $94.99, for a total transaction of $664,930.00. Following the transaction, the insider now owns 9,145 shares in the company, valued at $868,683.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bobby Berman sold 41,760 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $100.53, for a total value of $4,198,132.80. Following the transaction, the insider now owns 38,596 shares in the company, valued at approximately $3,880,055.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,760 shares of company stock worth $6,058,863. Company insiders own 5.15% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Parallax Volatility Advisers L.P. lifted its position 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 buying an additional 602 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Cullen/Frost Bankers during the second quarter worth approximately $114,000. Westwood Holdings Group Inc. purchased a new position in Cullen/Frost Bankers during the second quarter worth approximately $131,000. Fiduciary Trust Co. purchased a new position in Cullen/Frost Bankers during the second quarter worth approximately $136,000. Finally, Meeder Asset Management Inc. lifted its position in Cullen/Frost Bankers by 50.6% during the third quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock worth $150,000 after buying an additional 531 shares in the last quarter. Hedge funds and other institutional investors own 80.97% of the company’s stock.

Shares of Cullen/Frost Bankers (CFR) traded down $0.37 during mid-day trading on Friday, reaching $94.76. The company’s stock had a trading volume of 429,800 shares, compared to its average volume of 345,267. The stock has a market capitalization of $6,008.84, a P/E ratio of 18.02, a P/E/G ratio of 1.74 and a beta of 1.33. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.08. Cullen/Frost Bankers has a 52 week low of $81.09 and a 52 week high of $103.37.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a $0.57 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $2.28 annualized dividend and a dividend yield of 2.41%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.35%.

Cullen/Frost Bankers declared that its board has authorized a stock repurchase plan on Thursday, October 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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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.

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