Q2 2017 EPS Estimates for Cullen/Frost Bankers, Inc. (NYSE:CFR) Raised by Jefferies Group

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Research analysts at Jefferies Group raised their Q2 2017 earnings estimates for shares of Cullen/Frost Bankers in a research report issued on Wednesday. Jefferies Group analyst C. Haire now anticipates that the bank will post earnings of $1.26 per share for the quarter, up from their previous forecast of $1.24.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a report on Tuesday, May 2nd. Raymond James Financial, Inc. initiated coverage on Cullen/Frost Bankers in a report on Thursday, April 6th. They set a “market perform” rating on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $99.00 target price (up previously from $93.00) on shares of Cullen/Frost Bankers in a report on Thursday, April 27th. Morgan Stanley boosted their target price on Cullen/Frost Bankers from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Finally, Wedbush raised Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating and set a $92.00 target price on the stock in a report on Friday, May 19th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $92.00.

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Cullen/Frost Bankers (NYSE CFR) opened at 95.45 on Friday. The company has a 50-day moving average price of $93.22 and a 200 day moving average price of $90.69. Cullen/Frost Bankers has a 1-year low of $59.00 and a 1-year high of $99.20. The stock has a market capitalization of $6.10 billion, a P/E ratio of 19.43 and a beta of 1.33.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Wednesday, April 26th. The bank reported $1.28 earnings per share for the quarter, beating the 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 firm had revenue of $292.21 million during the quarter, compared to the consensus estimate of $319.56 million. During the same period last year, the business posted $1.07 EPS.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were issued a $0.57 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $2.28 annualized dividend and a dividend yield of 2.39%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.54. Cullen/Frost Bankers’s dividend payout ratio is currently 46.44%.

In related news, Director Graham M. Weston purchased 22,081 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were bought at an average price of $90.56 per share, with a total value of $1,999,655.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.15% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Cullen/Frost Bankers by 3,918.0% in the first quarter. BlackRock Inc. now owns 4,695,956 shares of the bank’s stock valued at $417,800,000 after buying an additional 4,579,082 shares during the period. Vanguard Group Inc. increased 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 valued at $476,557,000 after buying an additional 758,710 shares during the period. Norges Bank purchased a new stake in shares of Cullen/Frost Bankers during the fourth quarter valued at about $40,886,000. Neuberger Berman Group LLC increased 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 valued at $220,242,000 after buying an additional 200,811 shares during the period. Finally, First Trust Advisors LP increased 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 valued at $38,605,000 after buying an additional 197,145 shares during the period. 81.24% of the stock is currently owned by institutional investors.

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.

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

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