Cullen/Frost Bankers, Inc. (NYSE:CFR) – Investment analysts at Jefferies Group lifted their FY2017 earnings estimates for Cullen/Frost Bankers in a report issued on Tuesday, according to Zacks Investment Research. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings of $5.43 per share for the year, up from their previous estimate of $5.42. Jefferies Group has a “Hold” rating and a $103.00 price target on the stock.
CFR has been the subject of a number of other reports. Zacks Investment Research raised shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research note on Wednesday, January 10th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, October 27th. SunTrust Banks reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Cullen/Frost Bankers in a research report on Wednesday, November 29th. ValuEngine lowered shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Barclays increased their price objective on shares of Cullen/Frost Bankers from $110.00 to $113.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $103.19.
Cullen/Frost Bankers (CFR) traded down $1.47 during mid-day trading on Thursday, reaching $105.43. 369,794 shares of the company’s stock were exchanged, compared to its average volume of 468,652. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $6,660.00, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.78 and a beta of 1.37. Cullen/Frost Bankers has a fifty-two week low of $81.09 and a fifty-two week high of $108.77.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results 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 net margin of 28.86% and a return on equity of 11.90%. The business had revenue of $358.69 million for the quarter, compared to the consensus estimate of $351.34 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis.
Cullen/Frost Bankers declared that its board has approved a stock repurchase program on Thursday, October 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a yield of 2.16%. Cullen/Frost Bankers’s payout ratio is currently 43.68%.
In other news, insider Annette M. Alonzo sold 4,500 shares of Cullen/Frost Bankers stock in a transaction on Monday, January 29th. The stock was sold at an average price of $106.58, for a total transaction of $479,610.00. Following the transaction, the insider now owns 3,738 shares in the company, valued at approximately $398,396.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jerry Salinas sold 12,000 shares of Cullen/Frost Bankers stock in a transaction 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 transaction, 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. Insiders sold a total of 47,500 shares of company stock worth $4,892,020 in the last 90 days. 5.15% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallax Volatility Advisers L.P. raised its holdings in shares of 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 worth $102,000 after acquiring an additional 602 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth $114,000. Westwood Holdings Group Inc. purchased a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth $131,000. Fiduciary Trust Co. purchased a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth $136,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Cullen/Frost Bankers by 50.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock worth $150,000 after acquiring an additional 531 shares during the period. Institutional investors and hedge funds own 80.65% of the company’s stock.
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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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