Analysts expect Cullen/Frost Bankers, Inc. (NYSE:CFR) to report sales of $348.32 million for the current quarter, Zacks reports. Six analysts have made estimates for Cullen/Frost Bankers’ earnings, with the highest sales estimate coming in at $360.80 million and the lowest estimate coming in at $335.30 million. Cullen/Frost Bankers posted sales of $313.99 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.9%. The business is scheduled to issue its next quarterly earnings results on Thursday, January 24th.
According to Zacks, analysts expect that Cullen/Frost Bankers will report full-year sales of $1.36 billion for the current fiscal year, with estimates ranging from $1.31 billion to $1.40 billion. For the next financial year, analysts anticipate that the business will post sales of $1.46 billion, with estimates ranging from $1.39 billion to $1.52 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Cullen/Frost Bankers.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, October 25th. The bank reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.06. Cullen/Frost Bankers had a return on equity of 13.74% and a net margin of 32.11%. The firm had revenue of $353.34 million during the quarter, compared to the consensus estimate of $337.41 million. During the same quarter in the previous year, the company posted $1.41 earnings per share.
A number of equities analysts recently commented on CFR shares. Morgan Stanley restated a “hold” rating and set a $115.00 target price on shares of Cullen/Frost Bankers in a report on Tuesday, September 18th. ValuEngine downgraded Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Stephens set a $101.00 target price on Cullen/Frost Bankers and gave the company a “hold” rating in a report on Monday, October 29th. Finally, SunTrust Banks decreased their target price 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 analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus target price of $115.56.
Shares of CFR stock opened at $94.73 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.07. 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 market capitalization of $6.06 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.46 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 $0.67 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $2.68 dividend on an annualized basis and a yield of 2.83%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 49.17%.
In other news, Director Samuel G. Dawson acquired 3,441 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was acquired at an average price of $101.63 per share, for a total transaction of $349,708.83. Following the completion of the acquisition, the director now owns 4,300 shares in the company, valued at $437,009. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bobby Berman sold 1,391 shares of the stock in a transaction on 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 transaction, the insider now owns 28,112 shares of the company’s stock, valued at approximately $2,842,685.44. The disclosure for this sale can be found here. 5.15% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CFR. BlackRock Inc. raised its holdings in Cullen/Frost Bankers by 6.4% in the third quarter. BlackRock Inc. now owns 5,546,455 shares of the bank’s stock worth $579,270,000 after purchasing an additional 334,343 shares in the last quarter. First Trust Advisors LP raised its holdings in Cullen/Frost Bankers by 964.9% in the third quarter. First Trust Advisors LP now owns 280,056 shares of the bank’s stock worth $29,249,000 after purchasing an additional 253,758 shares in the last quarter. Millennium Management LLC bought a new position in Cullen/Frost Bankers in the second quarter worth $21,089,000. Vanguard Group Inc. raised its holdings in Cullen/Frost Bankers by 3.0% in the third quarter. Vanguard Group Inc. now owns 5,964,830 shares of the bank’s stock worth $622,968,000 after purchasing an additional 171,180 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Cullen/Frost Bankers in the second quarter worth $18,411,000. Institutional investors and hedge funds own 78.56% of the company’s stock.
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.
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