Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities researchers at Jefferies Group lowered their Q3 2017 earnings per share (EPS) estimates for shares of Cullen/Frost Bankers in a research report issued on Tuesday. Jefferies Group analyst C. Haire now anticipates that the bank will earn $1.34 per share for the quarter, down from their prior forecast of $1.35. Jefferies Group also issued estimates for Cullen/Frost Bankers’ Q4 2017 earnings at $1.37 EPS.
Several other research firms have also commented on CFR. BidaskClub raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $93.00 target price (up from $90.00) on shares of Cullen/Frost Bankers in a report on Thursday, July 6th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Cullen/Frost Bankers in a report on Tuesday, July 4th. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Tuesday, March 28th. Finally, Keefe, Bruyette & Woods set a $94.00 target price on Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Monday, April 3rd. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average price target of $92.00.
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Cullen/Frost Bankers (CFR) opened at 96.32 on Thursday. Cullen/Frost Bankers has a 52-week low of $63.11 and a 52-week high of $99.20. The stock has a market capitalization of $6.16 billion, a PE ratio of 19.61 and a beta of 1.33. The stock’s 50 day moving average price is $93.22 and its 200-day moving average price is $90.69.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Wednesday, April 26th. The bank reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.06. Cullen/Frost Bankers had a return on equity of 10.84% and a net margin of 27.98%. The business had revenue of $292.21 million during the quarter, compared to the consensus estimate of $319.56 million. During the same period in the previous year, the company posted $1.07 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were given a dividend of $0.57 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.54. The ex-dividend date was Friday, May 26th. This represents a $2.28 dividend on an annualized basis and a yield of 2.37%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 46.44%.
In related news, Director Graham M. Weston acquired 22,081 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average price of $90.56 per share, for a total transaction of $1,999,655.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.15% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Cullen/Frost Bankers by 3,918.0% in the first quarter. BlackRock Inc. now owns 4,695,956 shares of the bank’s stock worth $417,800,000 after buying an additional 4,579,082 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cullen/Frost Bankers by 16.5% in the first quarter. Vanguard Group Inc. now owns 5,356,366 shares of the bank’s stock worth $476,557,000 after buying an additional 758,710 shares during the last quarter. Norges Bank purchased a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth $40,886,000. Neuberger Berman Group LLC boosted its stake in shares of Cullen/Frost Bankers by 8.8% in the first quarter. Neuberger Berman Group LLC now owns 2,475,461 shares of the bank’s stock worth $220,242,000 after buying an additional 200,811 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Cullen/Frost Bankers by 83.3% in the first quarter. First Trust Advisors LP now owns 433,906 shares of the bank’s stock worth $38,605,000 after buying an additional 197,145 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.
Cullen/Frost Bankers Company Profile
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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