Cullen/Frost Bankers, Inc. (CFR) Rating Reiterated by SunTrust Banks, Inc.

SunTrust Banks, Inc. reissued their buy rating on shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in a research report released on Sunday. The brokerage currently has a $115.00 price objective on the bank’s stock. SunTrust Banks also issued estimates for Cullen/Frost Bankers’ Q4 2017 earnings at $1.42 EPS, FY2017 earnings at $5.40 EPS, Q1 2018 earnings at $1.38 EPS, Q2 2018 earnings at $1.37 EPS, Q3 2018 earnings at $1.44 EPS, Q4 2018 earnings at $1.46 EPS, FY2018 earnings at $5.65 EPS and FY2019 earnings at $6.04 EPS.

Several other analysts have also issued reports on the company. Zacks Investment Research upgraded Cullen/Frost Bankers from a hold rating to a buy rating and set a $107.00 target price on the stock in a report on Friday, July 7th. Morgan Stanley reiterated an equal weight rating and set a $93.00 target price (up previously from $90.00) on shares of Cullen/Frost Bankers in a report on Thursday, July 6th. Maxim Group reiterated a buy rating and set a $110.00 target price on shares of Cullen/Frost Bankers in a report on Thursday, October 26th. BidaskClub upgraded Cullen/Frost Bankers from a sell rating to a hold rating in a report on Wednesday, July 5th. Finally, Barclays PLC set a $97.00 target price on Cullen/Frost Bankers and gave the stock a hold rating in a report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $100.46.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 26th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.10. Cullen/Frost Bankers had a return on equity of 11.64% and a net margin of 28.86%. The business had revenue of $300.83 million for the quarter, compared to analyst estimates of $329.62 million. During the same quarter in the prior year, the company posted $1.24 earnings per share.

COPYRIGHT VIOLATION WARNING: “Cullen/Frost Bankers, Inc. (CFR) Rating Reiterated by SunTrust Banks, Inc.” was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this article on another site, it was copied illegally and reposted in violation of U.S. & international copyright laws. The correct version of this article can be accessed at https://sportsperspectives.com/2017/11/02/cullenfrost-bankers-inc-cfr-rating-reiterated-by-suntrust-banks-inc.html.

Cullen/Frost Bankers declared that its board has approved a stock repurchase plan on Thursday, October 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.35%.

In other news, insider Bobby Berman sold 41,760 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $100.53, for a total value of $4,198,132.80. Following the transaction, the insider now owns 38,596 shares of the company’s stock, valued at $3,880,055.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.15% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Parallax Volatility Advisers L.P. grew its position in shares of Cullen/Frost Bankers by 124.1% in the second quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock valued at $102,000 after purchasing an additional 602 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Cullen/Frost Bankers in the second quarter valued at approximately $114,000. Westwood Holdings Group Inc. acquired a new position in shares of Cullen/Frost Bankers in the second quarter valued at approximately $131,000. Fiduciary Trust Co. acquired a new position in shares of Cullen/Frost Bankers in the second quarter valued at approximately $136,000. Finally, Meeder Asset Management Inc. grew its position in shares of Cullen/Frost Bankers by 50.6% in the third quarter. Meeder Asset Management Inc. now owns 1,580 shares of the bank’s stock valued at $150,000 after purchasing an additional 531 shares during the last quarter. 80.71% 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.

Analyst Recommendations for Cullen/Frost Bankers (NYSE:CFR)

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.

Latest News

Leave a Reply