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.
TRADEMARK VIOLATION NOTICE: This story was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://sportsperspectives.com/2017/07/18/q2-2017-eps-estimates-for-cullenfrost-bankers-inc-nysecfr-raised-by-jefferies-group-updated.html.
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.
Receive News & Ratings for Cullen/Frost Bankers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.