Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities research analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for Cullen/Frost Bankers in a research note issued to investors on Tuesday. Jefferies Group analyst C. Haire forecasts that the bank will earn $1.37 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $103.00 target price on the stock. Jefferies Group also issued estimates for Cullen/Frost Bankers’ Q2 2018 earnings at $1.43 EPS, Q3 2018 earnings at $1.56 EPS and Q4 2018 earnings at $1.60 EPS.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 26th. The bank reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.10. The firm had revenue of $300.83 million during the quarter, compared to analyst estimates of $329.62 million. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. During the same period in the previous year, the company posted $1.24 EPS.
Several other research analysts have also commented on CFR. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research report on Wednesday, January 3rd. Barclays boosted their price target on Cullen/Frost Bankers from $106.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $95.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, September 29th. SunTrust Banks reissued a “buy” rating and issued a $116.00 price target on shares of Cullen/Frost Bankers in a research report on Wednesday, November 29th. Finally, Morgan Stanley boosted their price target on Cullen/Frost Bankers from $96.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $102.19.
Cullen/Frost Bankers (NYSE CFR) opened at $100.90 on Friday. The company has a market capitalization of $6,387.83, a price-to-earnings ratio of 19.18, a PEG ratio of 1.74 and a beta of 1.33. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.65 and a quick ratio of 0.65. Cullen/Frost Bankers has a 1 year low of $81.09 and a 1 year high of $103.37.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 43.35%.
Cullen/Frost Bankers declared that its Board of Directors has authorized a share repurchase plan on Thursday, October 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, insider Bobby Berman sold 41,760 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $100.53, for a total transaction of $4,198,132.80. Following the transaction, the insider now directly owns 38,596 shares of the company’s stock, valued at approximately $3,880,055.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Candace K. Wolfshohl sold 7,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $94.99, for a total value of $664,930.00. Following the transaction, the insider now directly owns 9,145 shares in the company, valued at $868,683.55. The disclosure for this sale can be found here. Insiders have sold a total of 60,760 shares of company stock worth $6,058,863 over the last ninety days. 5.15% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in CFR. Parallax Volatility Advisers L.P. increased its position in Cullen/Frost Bankers by 124.1% during the 2nd quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock valued at $102,000 after buying an additional 602 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Cullen/Frost Bankers during the 2nd quarter valued at about $114,000. Westwood Holdings Group Inc. acquired a new position in Cullen/Frost Bankers during the 2nd quarter valued at about $131,000. Meeder Asset Management Inc. increased its position in Cullen/Frost Bankers by 50.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock valued at $150,000 after buying an additional 531 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new position in shares of Cullen/Frost Bankers in the third quarter valued at about $212,000. 80.97% of the stock is currently owned by institutional investors.
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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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