Wall Street brokerages predict that Cullen/Frost Bankers, Inc. (NYSE:CFR) will report $327.94 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Cullen/Frost Bankers’ earnings. The highest sales estimate is $338.60 million and the lowest is $312.30 million. Cullen/Frost Bankers posted sales of $292.21 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.2%. The firm is scheduled to issue its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Cullen/Frost Bankers will report full-year sales of $327.94 million for the current year, with estimates ranging from $1.29 billion to $1.40 billion. For the next year, analysts expect that the company will post sales of $1.44 billion per share, with estimates ranging from $1.37 billion to $1.48 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Cullen/Frost Bankers.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.08. Cullen/Frost Bankers had a return on equity of 11.78% and a net margin of 29.62%. The company had revenue of $358.69 million during the quarter, compared to analysts’ expectations of $351.34 million. During the same period in the prior year, the business earned $1.28 earnings per share. Cullen/Frost Bankers’s revenue for the quarter was up 6.0% compared to the same quarter last year.
In other Cullen/Frost Bankers news, insider Gary C. Mcknight sold 24,000 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $106.32, for a total transaction of $2,551,680.00. Following the completion of the transaction, the insider now directly owns 12,844 shares in the company, valued at $1,365,574.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Annette M. Alonzo sold 4,500 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $106.58, for a total value of $479,610.00. Following the transaction, the insider now owns 3,738 shares of the company’s stock, valued at $398,396.04. The disclosure for this sale can be found here. Insiders have sold 55,860 shares of company stock valued at $5,935,474 over the last quarter. Corporate insiders own 5.15% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Cullen/Frost Bankers by 0.5% during the fourth quarter. BlackRock Inc. now owns 5,110,763 shares of the bank’s stock worth $483,732,000 after acquiring an additional 27,545 shares in the last quarter. Aristotle Capital Management LLC raised its stake in Cullen/Frost Bankers by 5.6% during the fourth quarter. Aristotle Capital Management LLC now owns 2,009,052 shares of the bank’s stock worth $190,157,000 after acquiring an additional 107,173 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Cullen/Frost Bankers by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,000,321 shares of the bank’s stock worth $94,681,000 after acquiring an additional 9,721 shares in the last quarter. Champlain Investment Partners LLC raised its stake in Cullen/Frost Bankers by 1.5% during the fourth quarter. Champlain Investment Partners LLC now owns 895,935 shares of the bank’s stock worth $84,800,000 after acquiring an additional 13,555 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Cullen/Frost Bankers by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 800,111 shares of the bank’s stock worth $75,946,000 after acquiring an additional 10,300 shares in the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.
Cullen/Frost Bankers (CFR) opened at $109.83 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $7,047.70, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.85 and a beta of 1.33. Cullen/Frost Bankers has a 12 month low of $81.09 and a 12 month high of $111.10.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 2.08%. Cullen/Frost Bankers’s dividend payout ratio is currently 41.38%.
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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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