Cullen/Frost Bankers, Inc. (NYSE:CFR) – Stock analysts at Jefferies Group boosted their Q1 2018 earnings estimates for shares of Cullen/Frost Bankers in a report issued on Wednesday, April 4th. Jefferies Group analyst C. Haire now anticipates that the bank will post earnings per share of $1.45 for the quarter, up from their prior forecast of $1.44. Jefferies Group also issued estimates for Cullen/Frost Bankers’ FY2018 earnings at $6.50 EPS and FY2019 earnings at $7.15 EPS.
Several other equities analysts also recently weighed in on CFR. Morgan Stanley lifted their target price on Cullen/Frost Bankers from $96.00 to $107.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Barclays lifted their target price on Cullen/Frost Bankers from $106.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research downgraded Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Maxim Group reaffirmed a “buy” rating and issued a $120.00 target price (up from $110.00) on shares of Cullen/Frost Bankers in a research report on Friday, January 26th. Finally, Stephens set a $110.00 price objective on Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus target price of $104.19.
NYSE CFR opened at $104.67 on Thursday. The stock has a market capitalization of $6,771.96, a price-to-earnings ratio of 19.21, a PEG ratio of 1.77 and a beta of 1.30. The company has a debt-to-equity ratio of 0.07, 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 $111.10.
Cullen/Frost Bankers (NYSE:CFR) last released its 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. The company had revenue of $358.69 million during the quarter, compared to the consensus estimate of $351.34 million. Cullen/Frost Bankers had a return on equity of 11.78% and a net margin of 29.62%. Cullen/Frost Bankers’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.18%. The ex-dividend date was Tuesday, February 27th. Cullen/Frost Bankers’s payout ratio is 41.83%.
In other Cullen/Frost Bankers news, Director R Denny Alexander sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $109.54, for a total value of $219,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William L. Perotti sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $105.57, for a total value of $1,372,410.00. Following the completion of the sale, the executive vice president now owns 92,382 shares of the company’s stock, valued at approximately $9,752,767.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,860 shares of company stock valued at $5,935,474. 5.15% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CFR. Russell Investments Group Ltd. lifted its stake in Cullen/Frost Bankers by 5.3% in the third quarter. Russell Investments Group Ltd. now owns 23,920 shares of the bank’s stock valued at $2,270,000 after buying an additional 1,202 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Cullen/Frost Bankers by 1.2% in the third quarter. Ameriprise Financial Inc. now owns 173,570 shares of the bank’s stock valued at $16,473,000 after buying an additional 2,142 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Cullen/Frost Bankers by 3.9% in the third quarter. Great West Life Assurance Co. Can now owns 47,709 shares of the bank’s stock valued at $4,520,000 after buying an additional 1,811 shares during the last quarter. Legal & General Group Plc lifted its stake in Cullen/Frost Bankers by 12.8% in the third quarter. Legal & General Group Plc now owns 69,903 shares of the bank’s stock valued at $6,637,000 after buying an additional 7,910 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Cullen/Frost Bankers by 6.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 239,734 shares of the bank’s stock valued at $22,756,000 after buying an additional 14,922 shares during the last quarter. Institutional investors own 80.19% of the company’s stock.
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About Cullen/Frost Bankers
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.
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