Wall Street brokerages forecast that Cullen/Frost Bankers, Inc. (NYSE:CFR) will report earnings per share of $1.72 for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Cullen/Frost Bankers’ earnings. The lowest EPS estimate is $1.69 and the highest is $1.76. Cullen/Frost Bankers reported earnings of $1.41 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 22%. The business is expected to issue its next quarterly earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Cullen/Frost Bankers will report full year earnings of $6.77 per share for the current fiscal year, with EPS estimates ranging from $6.73 to $6.85. For the next financial year, analysts anticipate that the firm will report earnings of $7.38 per share, with EPS estimates ranging from $7.20 to $7.63. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cullen/Frost Bankers.
Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 26th. The bank reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.05. The business had revenue of $322.34 million during the quarter, compared to the consensus estimate of $342.89 million. Cullen/Frost Bankers had a net margin of 31.38% and a return on equity of 13.08%. During the same period in the prior year, the firm earned $1.29 earnings per share.
Several research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $118.00 price target on shares of Cullen/Frost Bankers in a report on Friday, July 27th. Finally, ValuEngine cut shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Monday, June 11th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus price target of $113.50.
Shares of CFR stock traded up $0.69 on Friday, hitting $112.12. The stock had a trading volume of 208,930 shares, compared to its average volume of 408,894. The company has a market capitalization of $7.09 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.73 and a beta of 1.30. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers has a 52-week low of $81.09 and a 52-week high of $121.66.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a $0.67 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $2.68 annualized dividend and a yield of 2.39%. Cullen/Frost Bankers’s dividend payout ratio is presently 49.17%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Cullen/Frost Bankers by 2.8% during the first quarter. BlackRock Inc. now owns 5,251,719 shares of the bank’s stock worth $557,051,000 after purchasing an additional 140,956 shares during the period. Aristotle Capital Management LLC raised its holdings in shares of Cullen/Frost Bankers by 4.7% during the first quarter. Aristotle Capital Management LLC now owns 2,102,577 shares of the bank’s stock worth $223,020,000 after purchasing an additional 93,525 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Cullen/Frost Bankers by 3.2% during the first quarter. JPMorgan Chase & Co. now owns 1,795,067 shares of the bank’s stock worth $190,404,000 after purchasing an additional 55,262 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Cullen/Frost Bankers by 2.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,029,384 shares of the bank’s stock worth $109,187,000 after purchasing an additional 29,063 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Cullen/Frost Bankers by 564.6% during the first quarter. Lord Abbett & CO. LLC now owns 957,194 shares of the bank’s stock worth $101,530,000 after purchasing an additional 813,179 shares during the period. 79.65% of the stock is currently owned by hedge funds and other institutional investors.
About Cullen/Frost Bankers
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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