Cullen/Frost Bankers, Inc. (NYSE:CFR) – Stock analysts at SunTrust Banks increased their FY2017 earnings per share (EPS) estimates for Cullen/Frost Bankers in a note issued to investors on Monday, Zacks Investment Research reports. SunTrust Banks analyst J. Demba now forecasts that the bank will post earnings of $5.40 per share for the year, up from their prior forecast of $5.30. SunTrust Banks has a “Buy” rating and a $115.00 price target on the stock. SunTrust Banks also issued estimates for Cullen/Frost Bankers’ Q4 2017 earnings at $1.42 EPS.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 26th. The bank reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.10. The business had revenue of $300.83 million for the quarter, compared to the consensus estimate of $329.62 million. Cullen/Frost Bankers had a net margin of 28.86% and a return on equity of 11.64%. During the same period in the previous year, the company earned $1.24 earnings per share.
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A number of other research firms have also recently commented on CFR. Royal Bank Of Canada reaffirmed a “hold” rating and set a $100.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, October 27th. J P Morgan Chase & Co lifted their price objective 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. Barclays PLC lifted their price objective on shares of Cullen/Frost Bankers from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Monday, October 30th. Citigroup Inc. raised shares of Cullen/Frost Bankers to a “market perform” rating in a research report on Friday, October 27th. Finally, Raymond James Financial, Inc. raised shares of Cullen/Frost Bankers from an “underperform” rating to a “market perform” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $100.58.
Cullen/Frost Bankers (NYSE:CFR) opened at $93.35 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.08. Cullen/Frost Bankers has a 52-week low of $79.76 and a 52-week high of $103.37. The company has a market cap of $5,896.36, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.84 and a beta of 1.35.
Hedge funds have recently bought and sold shares of the stock. Parallax Volatility Advisers L.P. raised its stake in Cullen/Frost Bankers by 124.1% in the second quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock valued at $102,000 after purchasing an additional 602 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Cullen/Frost Bankers in the second quarter valued at about $114,000. Westwood Holdings Group Inc. acquired a new position in Cullen/Frost Bankers in the second quarter valued at about $131,000. Fiduciary Trust Co. acquired a new position in Cullen/Frost Bankers in the second quarter valued at about $136,000. Finally, Meeder Asset Management Inc. raised its stake in Cullen/Frost Bankers by 50.6% in the third quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock valued at $150,000 after purchasing an additional 531 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.
In related news, insider Bobby Berman sold 41,760 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 38,596 shares of the company’s stock, valued at $3,880,055.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.15% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Wednesday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.35%.
Cullen/Frost Bankers declared that its board has approved a share buyback plan on Thursday, October 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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