Cullen/Frost Bankers, Inc. (NYSE:CFR) – Stock analysts at Wedbush raised their Q4 2017 EPS estimates for shares of Cullen/Frost Bankers in a report issued on Thursday. Wedbush analyst P. Winter now anticipates that the bank will post earnings per share of $1.41 for the quarter, up from their previous estimate of $1.40. Wedbush also issued estimates for Cullen/Frost Bankers’ FY2018 earnings at $6.19 EPS and FY2019 earnings at $6.73 EPS.

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

A number of other brokerages have also recently issued reports on CFR. Zacks Investment Research cut Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Tuesday. Citigroup raised Cullen/Frost Bankers to a “market perform” rating in a report on Friday, October 27th. Maxim Group reaffirmed a “buy” rating and issued a $110.00 target price on shares of Cullen/Frost Bankers in a report on Thursday, October 26th. Jefferies Group reissued a “hold” rating and issued a $103.00 price target on shares of Cullen/Frost Bankers in a research note on Wednesday, October 11th. Finally, Raymond James Financial raised Cullen/Frost Bankers from an “underperform” rating to a “market perform” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. Cullen/Frost Bankers currently has an average rating of “Hold” and an average price target of $102.04.

Cullen/Frost Bankers (NYSE:CFR) opened at $95.06 on Friday. Cullen/Frost Bankers has a fifty-two week low of $81.09 and a fifty-two week high of $103.37. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $6,008.84, a PE ratio of 18.07, a price-to-earnings-growth ratio of 1.74 and a beta of 1.33.

Several hedge funds have recently bought and sold shares of CFR. Belpointe Asset Management LLC bought a new stake in Cullen/Frost Bankers during the third quarter worth $911,000. Ameritas Investment Partners Inc. lifted its holdings in Cullen/Frost Bankers by 2.2% during the third quarter. Ameritas Investment Partners Inc. now owns 51,387 shares of the bank’s stock worth $4,695,000 after acquiring an additional 1,107 shares during the period. Griffin Asset Management Inc. bought a new stake in Cullen/Frost Bankers during the third quarter worth $1,776,000. Jane Street Group LLC bought a new stake in Cullen/Frost Bankers during the third quarter worth $280,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Cullen/Frost Bankers by 7.5% during the third quarter. Envestnet Asset Management Inc. now owns 22,112 shares of the bank’s stock worth $2,098,000 after acquiring an additional 1,552 shares during the period. Institutional investors own 80.97% of the company’s stock.

In other news, insider Bobby Berman sold 41,760 shares of the firm’s 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 $3,880,055.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jerry Salinas sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $99.65, for a total value of $1,195,800.00. Following the completion of the transaction, the chief financial officer now owns 24,184 shares in the company, valued at approximately $2,409,935.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,760 shares of company stock worth $6,058,863. Corporate insiders own 5.15% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a $0.57 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $2.28 annualized dividend and a yield of 2.40%. Cullen/Frost Bankers’s payout ratio is currently 43.35%.

Cullen/Frost Bankers announced that its Board of Directors has approved a share buyback program on Thursday, October 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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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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