Cullen/Frost Bankers, Inc. to Post FY2019 Earnings of $6.21 Per Share, SunTrust Banks Forecasts (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities researchers at SunTrust Banks lifted their FY2019 EPS estimates for shares of Cullen/Frost Bankers in a research note issued on Monday, according to Zacks Investment Research. SunTrust Banks analyst J. Demba now forecasts that the bank will earn $6.21 per share for the year, up from their prior forecast of $6.04. SunTrust Banks has a “Buy” rating and a $116.00 price target on the stock.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $1.41 EPS for the quarter, beating the consensus estimate of $1.31 by $0.10. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. The company had revenue of $300.83 million for the quarter, compared to the consensus estimate of $329.62 million. During the same quarter last year, the company posted $1.24 earnings per share.

CFR has been the topic of several other research reports. Deutsche Bank increased their price target on Cullen/Frost Bankers from $96.00 to $102.00 and gave the company a “hold” rating in a report on Wednesday, November 8th. Barclays increased their price target on Cullen/Frost Bankers from $97.00 to $106.00 and gave the company an “equal weight” rating in a report on Monday, October 30th. JPMorgan Chase & Co. increased their price target on Cullen/Frost Bankers from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $95.00 price target on shares of Cullen/Frost Bankers in a report on Friday, September 29th. Finally, Jefferies Group restated a “hold” rating and issued a $103.00 price objective on shares of Cullen/Frost Bankers in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus target price of $102.19.

Shares of Cullen/Frost Bankers (NYSE:CFR) traded up $0.66 during mid-day trading on Tuesday, reaching $101.26. The company’s stock had a trading volume of 476,169 shares, compared to its average volume of 375,864. Cullen/Frost Bankers has a one year low of $81.09 and a one year high of $103.37. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $6,400.00, a P/E ratio of 19.40, a PEG ratio of 1.74 and a beta of 1.33.

Cullen/Frost Bankers declared that its Board of Directors has initiated a share buyback plan on Thursday, October 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In related news, insider Bobby Berman sold 41,760 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $100.53, for a total value of $4,198,132.80. Following the completion of the transaction, the insider now directly owns 38,596 shares of the company’s stock, valued at $3,880,055.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Candace K. Wolfshohl sold 7,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $94.99, for a total value of $664,930.00. Following the completion of the transaction, the insider now directly owns 9,145 shares of the company’s stock, valued at $868,683.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,760 shares of company stock worth $6,058,863. 5.15% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of CFR. Parallax Volatility Advisers L.P. lifted its position in Cullen/Frost Bankers by 124.1% in the second quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock worth $102,000 after purchasing an additional 602 shares during the period. Tower Research Capital LLC TRC bought a new position in Cullen/Frost Bankers in the second quarter worth $114,000. Westwood Holdings Group Inc. bought a new position in Cullen/Frost Bankers in the second quarter worth $131,000. Fiduciary Trust Co. bought a new position in Cullen/Frost Bankers in the second quarter worth $136,000. Finally, Meeder Asset Management Inc. lifted its position in Cullen/Frost Bankers by 50.6% in the third quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock worth $150,000 after purchasing an additional 531 shares during the period. 80.90% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This piece was published by BBNS and is the sole property of of BBNS. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://baseballnewssource.com/markets/research-analysts-issue-forecasts-for-cullenfrost-bankers-inc-s-fy2019-earnings-cfr/1823992.html.

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.

Get a free copy of the Zacks research report on Cullen/Frost Bankers (CFR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Cullen/Frost Bankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Rumor: Milwaukee Brewers Offer Yu Darvish Contract
Rumor: Milwaukee Brewers Offer Yu Darvish Contract
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires


Leave a Reply

 
© 2006-2018 BBNS.