$341.95 Million in Sales Expected for Cullen/Frost Bankers, Inc. (NYSE:CFR) This Quarter


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Analysts expect that Cullen/Frost Bankers, Inc. (NYSE:CFR) will announce sales of $341.95 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Cullen/Frost Bankers’ earnings, with the lowest sales estimate coming in at $309.50 million and the highest estimate coming in at $358.10 million. Cullen/Frost Bankers reported sales of $374.37 million during the same quarter last year, which indicates a negative year-over-year growth rate of 8.7%. The business is expected to report its next quarterly earnings report on Thursday, April 29th.

On average, analysts expect that Cullen/Frost Bankers will report full year sales of $1.35 billion for the current financial year, with estimates ranging from $1.21 billion to $1.41 billion. For the next year, analysts expect that the business will report sales of $1.34 billion, with estimates ranging from $1.24 billion to $1.40 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Cullen/Frost Bankers.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Wednesday, January 27th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. Cullen/Frost Bankers had a return on equity of 6.68% and a net margin of 22.81%. During the same quarter in the previous year, the business posted $1.60 earnings per share.

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut shares of Cullen/Frost Bankers from an “outperform” rating to a “market perform” rating and set a $80.00 price target for the company. in a research note on Wednesday, November 11th. Zacks Investment Research raised shares of Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating and set a $109.00 price target for the company in a research note on Monday, January 11th. Morgan Stanley raised their price target on shares of Cullen/Frost Bankers from $75.00 to $81.00 and gave the stock an “underweight” rating in a research note on Thursday, January 7th. Compass Point cut shares of Cullen/Frost Bankers from a “neutral” rating to a “sell” rating and raised their price target for the stock from $69.00 to $71.00 in a research note on Wednesday, November 11th. Finally, TheStreet raised shares of Cullen/Frost Bankers from a “c+” rating to a “b-” rating in a research note on Wednesday, November 18th. Five analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Cullen/Frost Bankers currently has an average rating of “Hold” and an average price target of $78.75.

In other Cullen/Frost Bankers news, Director Carlos Alvarez sold 40,000 shares of the stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $99.12, for a total transaction of $3,964,800.00. Following the transaction, the director now owns 414,000 shares in the company, valued at approximately $41,035,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bobby Berman sold 17,502 shares of the stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $103.55, for a total value of $1,812,332.10. Following the transaction, the executive vice president now owns 32,739 shares in the company, valued at approximately $3,390,123.45. The disclosure for this sale can be found here. Insiders have sold a total of 109,502 shares of company stock valued at $11,163,732 in the last ninety days. Insiders own 4.75% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. increased its position in shares of Cullen/Frost Bankers by 5.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 76,879 shares of the bank’s stock worth $7,463,000 after purchasing an additional 3,960 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Cullen/Frost Bankers by 3.3% in the third quarter. Envestnet Asset Management Inc. now owns 39,400 shares of the bank’s stock worth $2,520,000 after purchasing an additional 1,267 shares during the period. Pacer Advisors Inc. bought a new position in shares of Cullen/Frost Bankers in the third quarter worth $879,000. Cerebellum GP LLC bought a new position in shares of Cullen/Frost Bankers in the third quarter worth $54,000. Finally, Bradley Foster & Sargent Inc. CT bought a new position in shares of Cullen/Frost Bankers in the third quarter worth $328,000. Hedge funds and other institutional investors own 81.39% of the company’s stock.

Shares of CFR traded up $0.47 during mid-day trading on Thursday, hitting $105.87. 2,671 shares of the company’s stock were exchanged, compared to its average volume of 481,060. The company has a market cap of $6.69 billion, a PE ratio of 20.06, a P/E/G ratio of 2.13 and a beta of 1.56. Cullen/Frost Bankers has a 52 week low of $47.69 and a 52 week high of $106.18. The company has a 50-day simple moving average of $96.81 and a 200 day simple moving average of $80.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.72 and a quick ratio of 0.72.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 15th. Shareholders of record on Friday, February 26th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.72%. The ex-dividend date is Thursday, February 25th. Cullen/Frost Bankers’s dividend payout ratio is 42.11%.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

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Earnings History and Estimates for Cullen/Frost Bankers (NYSE:CFR)

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