Analysts forecast that Cullen/Frost Bankers, Inc. (NYSE:CFR) will announce earnings of $1.76 per share for the current quarter, Zacks reports. Six analysts have issued estimates for Cullen/Frost Bankers’ earnings, with the lowest EPS estimate coming in at $1.74 and the highest estimate coming in at $1.81. Cullen/Frost Bankers reported earnings per share of $1.47 during the same quarter last year, which would suggest a positive year over year growth rate of 19.7%. The business is scheduled to report its next quarterly earnings results on Thursday, January 24th.
According to Zacks, analysts expect that Cullen/Frost Bankers will report full year earnings of $6.84 per share for the current fiscal year, with EPS estimates ranging from $6.80 to $6.89. For the next fiscal year, analysts forecast that the business will post earnings of $7.20 per share, with EPS estimates ranging from $7.11 to $7.25. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Cullen/Frost Bankers.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, October 25th. The bank reported $1.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.06. Cullen/Frost Bankers had a net margin of 32.11% and a return on equity of 13.74%. The firm had revenue of $353.34 million for the quarter, compared to the consensus estimate of $337.41 million. During the same quarter in the previous year, the company earned $1.41 earnings per share.
CFR has been the topic of several recent analyst reports. Stephens set a $101.00 target price on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a research note on Monday, October 29th. Morgan Stanley reiterated a “hold” rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a research report on Tuesday, September 18th. ValuEngine cut Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Finally, SunTrust Banks dropped their price objective on Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating for the company in a report on Monday, October 29th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $115.56.
In other news, insider Bobby Berman sold 1,391 shares of the company’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $101.12, for a total value of $140,657.92. Following the completion of the sale, the insider now directly owns 28,112 shares of the company’s stock, valued at approximately $2,842,685.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Samuel G. Dawson purchased 3,441 shares of the stock in a transaction dated Wednesday, November 7th. The stock was bought at an average cost of $101.63 per share, with a total value of $349,708.83. Following the completion of the purchase, the director now owns 4,300 shares in the company, valued at $437,009. The disclosure for this purchase can be found here. Insiders own 5.15% of the company’s stock.
Several hedge funds have recently made changes to their positions in CFR. Northwestern Mutual Wealth Management Co. increased its stake in Cullen/Frost Bankers by 70.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,241 shares of the bank’s stock worth $134,000 after purchasing an additional 511 shares in the last quarter. First Hawaiian Bank bought a new stake in Cullen/Frost Bankers during the 3rd quarter worth approximately $158,000. Point72 Hong Kong Ltd bought a new stake in Cullen/Frost Bankers during the 3rd quarter worth approximately $161,000. Macquarie Group Ltd. bought a new stake in Cullen/Frost Bankers during the 2nd quarter worth approximately $184,000. Finally, Moody National Bank Trust Division bought a new stake in Cullen/Frost Bankers during the 3rd quarter worth approximately $187,000. 78.56% of the stock is owned by institutional investors.
CFR traded down $0.53 during trading on Friday, reaching $94.73. 413,812 shares of the company’s stock were exchanged, compared to its average volume of 405,107. Cullen/Frost Bankers has a fifty-two week low of $90.02 and a fifty-two week high of $121.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $6.09 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.47 and a beta of 1.32.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $2.68 annualized dividend and a yield of 2.83%. Cullen/Frost Bankers’s dividend payout ratio is currently 49.17%.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
Read More: Earnings Reports
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cullen/Frost Bankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers and related companies with MarketBeat.com's FREE daily email newsletter.