Cullen/Frost Bankers, Inc. (NYSE:CFR) – Stock analysts at Jefferies Group dropped their Q3 2017 earnings estimates for shares of Cullen/Frost Bankers in a note issued to investors on Monday. Jefferies Group analyst C. Haire now anticipates that the bank will post earnings of $1.34 per share for the quarter, down from their prior forecast of $1.36. Jefferies Group currently has a “Hold” rating and a $103.00 price target on the stock. Jefferies Group also issued estimates for Cullen/Frost Bankers’ Q4 2017 earnings at $1.32 EPS.
CFR has been the subject of several other research reports. ValuEngine downgraded Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Piper Jaffray Companies reissued a “hold” rating and set a $96.50 target price on shares of Cullen/Frost Bankers in a research note on Friday, September 1st. Zacks Investment Research downgraded Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Wednesday, September 13th. BidaskClub downgraded Cullen/Frost Bankers from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Finally, J P Morgan Chase & Co downgraded Cullen/Frost Bankers from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $100.00 to $88.00 in a research note on Monday, July 31st. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $97.50.
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Shares of Cullen/Frost Bankers (NYSE CFR) opened at 96.09 on Wednesday. The company’s 50 day moving average is $89.62 and its 200-day moving average is $91.40. Cullen/Frost Bankers has a 12 month low of $69.86 and a 12 month high of $99.20. The firm has a market cap of $6.17 billion, a PE ratio of 18.93 and a beta of 1.35.
Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.29. The business had revenue of $295.87 million during the quarter, compared to analysts’ expectations of $316.40 million. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. During the same quarter last year, the company posted $1.11 EPS.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Tuesday, August 29th. Cullen/Frost Bankers’s payout ratio is 44.79%.
Several institutional investors have recently bought and sold shares of CFR. UBS Asset Management Americas Inc. boosted its holdings in shares of Cullen/Frost Bankers by 15.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 34,111 shares of the bank’s stock worth $3,035,000 after buying an additional 4,463 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in shares of Cullen/Frost Bankers during the 1st quarter worth approximately $869,000. OppenheimerFunds Inc. boosted its holdings in shares of Cullen/Frost Bankers by 21.4% during the 1st quarter. OppenheimerFunds Inc. now owns 3,044 shares of the bank’s stock worth $271,000 after buying an additional 536 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Cullen/Frost Bankers by 2.2% during the 1st quarter. Wellington Management Group LLP now owns 669,704 shares of the bank’s stock worth $59,583,000 after buying an additional 14,281 shares in the last quarter. Finally, Advantus Capital Management Inc boosted its holdings in shares of Cullen/Frost Bankers by 4.3% during the 1st quarter. Advantus Capital Management Inc now owns 7,265 shares of the bank’s stock worth $646,000 after buying an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 80.72% 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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