Brokers Offer Predictions for Cullen/Frost Bankers, Inc.’s Q1 2018 Earnings (CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities researchers at SunTrust Banks boosted their Q1 2018 earnings per share estimates for Cullen/Frost Bankers in a research report issued on Thursday. SunTrust Banks analyst J. Demba now anticipates that the bank will earn $1.46 per share for the quarter, up from their previous forecast of $1.42. SunTrust Banks has a “Buy” rating and a $116.00 price objective on the stock. SunTrust Banks also issued estimates for Cullen/Frost Bankers’ Q2 2018 earnings at $1.51 EPS, Q3 2018 earnings at $1.58 EPS, Q4 2018 earnings at $1.66 EPS, FY2018 earnings at $6.22 EPS, Q1 2019 earnings at $1.65 EPS, Q2 2019 earnings at $1.69 EPS and Q3 2019 earnings at $1.81 EPS.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.08. The business had revenue of $358.69 million during the quarter, compared to the consensus estimate of $351.34 million. Cullen/Frost Bankers had a net margin of 28.86% and a return on equity of 11.90%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.28 earnings per share.

A number of other brokerages have also commented on CFR. Maxim Group reaffirmed a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Cullen/Frost Bankers in a research report on Friday. Barclays raised their target price on shares of Cullen/Frost Bankers from $110.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. raised their target price on shares of Cullen/Frost Bankers from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Royal Bank of Canada reaffirmed a “hold” rating and set a $100.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, October 27th. Finally, Zacks Investment Research raised shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price of $103.19.

Cullen/Frost Bankers (CFR) opened at $106.25 on Monday. The company has a market cap of $6,710.00, a P/E ratio of 20.35, a PEG ratio of 1.83 and a beta of 1.33. Cullen/Frost Bankers has a 1 year low of $81.09 and a 1 year high of $108.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.65 and a current ratio of 0.65.

Several large investors have recently bought and sold shares of CFR. Vanguard Group Inc. lifted its position in Cullen/Frost Bankers by 1.9% during the second quarter. Vanguard Group Inc. now owns 5,460,000 shares of the bank’s stock valued at $512,749,000 after purchasing an additional 103,634 shares during the period. The Manufacturers Life Insurance Company lifted its position in Cullen/Frost Bankers by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 983,998 shares of the bank’s stock valued at $92,407,000 after purchasing an additional 59,463 shares during the period. Victory Capital Management Inc. lifted its position in Cullen/Frost Bankers by 401.7% during the third quarter. Victory Capital Management Inc. now owns 72,745 shares of the bank’s stock valued at $6,905,000 after purchasing an additional 58,246 shares during the period. Janus Henderson Group PLC acquired a new position in Cullen/Frost Bankers during the second quarter valued at $5,119,000. Finally, Lord Abbett & CO. LLC acquired a new position in Cullen/Frost Bankers during the second quarter valued at $3,371,000. Institutional investors and hedge funds own 80.63% of the company’s stock.

In other news, insider Candace K. Wolfshohl sold 7,000 shares of Cullen/Frost Bankers stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $94.99, for a total transaction of $664,930.00. Following the completion of the sale, the insider now directly owns 9,145 shares in the company, valued at $868,683.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jerry Salinas sold 12,000 shares of Cullen/Frost Bankers stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $99.65, for a total transaction of $1,195,800.00. Following the sale, the chief financial officer now owns 24,184 shares of the company’s stock, valued at $2,409,935.60. The disclosure for this sale can be found here. Insiders own 5.15% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 annualized dividend and a dividend yield of 2.15%. Cullen/Frost Bankers’s payout ratio is currently 43.68%.

Cullen/Frost Bankers declared that its board has initiated a share repurchase plan on Thursday, October 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the bank to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically a sign 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.

Earnings History and Estimates for Cullen/Frost Bankers (NYSE:CFR)

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