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.
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.
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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.
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