Cullen/Frost Bankers, Inc. (NYSE:CFR) – Investment analysts at Jefferies Group upped their Q1 2018 earnings per share (EPS) estimates for Cullen/Frost Bankers in a research note issued to investors on Thursday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings per share of $1.44 for the quarter, up from their prior estimate of $1.37. Jefferies Group currently has a “Hold” rating and a $103.00 price objective on the stock. Jefferies Group also issued estimates for Cullen/Frost Bankers’ Q2 2018 earnings at $1.51 EPS, Q3 2018 earnings at $1.65 EPS, Q4 2018 earnings at $1.70 EPS, FY2018 earnings at $6.30 EPS and FY2019 earnings at $6.80 EPS.
Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, January 25th. The bank reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08. Cullen/Frost Bankers had a return on equity of 11.90% and a net margin of 28.86%. The firm had revenue of $358.69 million for the quarter, compared to the consensus estimate of $351.34 million. During the same quarter in the prior year, the business earned $1.28 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis.
Cullen/Frost Bankers (CFR) opened at $106.25 on Monday. Cullen/Frost Bankers has a twelve month low of $81.09 and a twelve month high of $108.77. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $6,710.00, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 1.83 and a beta of 1.33.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a $0.57 dividend. 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 stock repurchase plan on Thursday, October 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, insider Candace K. Wolfshohl sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $94.99, for a total value of $664,930.00. Following the sale, the insider now owns 9,145 shares in the company, valued at approximately $868,683.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jerry Salinas sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $99.65, for a total value of $1,195,800.00. Following the completion of the sale, 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. Corporate insiders own 5.15% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Villere ST Denis J & Co. LLC lifted its position in Cullen/Frost Bankers by 48.7% in the 4th quarter. Villere ST Denis J & Co. LLC now owns 74,675 shares of the bank’s stock valued at $7,067,000 after acquiring an additional 24,450 shares in the last quarter. SG Americas Securities LLC lifted its position in Cullen/Frost Bankers by 69.8% in the 4th quarter. SG Americas Securities LLC now owns 10,123 shares of the bank’s stock valued at $958,000 after acquiring an additional 4,161 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Cullen/Frost Bankers in the 4th quarter valued at approximately $321,000. Fox Run Management L.L.C. bought a new position in Cullen/Frost Bankers in the 4th quarter valued at approximately $524,000. Finally, Schwab Charles Investment Management Inc. lifted its position in Cullen/Frost Bankers by 5.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 252,938 shares of the bank’s stock valued at $23,941,000 after acquiring an additional 13,204 shares in the last quarter. Institutional investors own 80.63% of the company’s stock.
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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