Cullen/Frost Bankers, Inc. (NYSE:CFR) – Analysts at Wedbush reduced their Q4 2018 EPS estimates for shares of Cullen/Frost Bankers in a research report issued to clients and investors on Thursday, October 25th. Wedbush analyst P. Winter now forecasts that the bank will post earnings of $1.71 per share for the quarter, down from their previous forecast of $1.76. Wedbush also issued estimates for Cullen/Frost Bankers’ Q2 2019 earnings at $1.78 EPS, Q3 2019 earnings at $1.83 EPS, Q4 2019 earnings at $1.85 EPS, FY2019 earnings at $7.16 EPS and FY2020 earnings at $7.49 EPS.
CFR has been the topic of several other research reports. ValuEngine cut shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research cut shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Stephens set a $101.00 price target on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Monday. SunTrust Banks dropped their price target on shares of Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Morgan Stanley reiterated a “hold” rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a research note on Tuesday, September 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $114.30.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 25th. The bank reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.06. Cullen/Frost Bankers had a net margin of 32.11% and a return on equity of 13.74%. The company had revenue of $353.34 million for the quarter, compared to analysts’ expectations of $337.41 million. During the same quarter last year, the company posted $1.41 earnings per share.
Several institutional investors have recently modified their holdings of the company. Arizona State Retirement System boosted its stake in shares of Cullen/Frost Bankers by 12.6% during the 3rd quarter. Arizona State Retirement System now owns 45,378 shares of the bank’s stock worth $4,739,000 after acquiring an additional 5,072 shares during the last quarter. State Treasurer State of Michigan raised its position in shares of Cullen/Frost Bankers by 10.3% during the 3rd quarter. State Treasurer State of Michigan now owns 23,600 shares of the bank’s stock valued at $2,465,000 after purchasing an additional 2,200 shares during the period. Russell Investments Group Ltd. raised its position in shares of Cullen/Frost Bankers by 42.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 27,726 shares of the bank’s stock valued at $2,897,000 after purchasing an additional 8,246 shares during the period. Securian Asset Management Inc raised its position in shares of Cullen/Frost Bankers by 8.5% during the 3rd quarter. Securian Asset Management Inc now owns 7,826 shares of the bank’s stock valued at $817,000 after purchasing an additional 610 shares during the period. Finally, Alps Advisors Inc. raised its position in shares of Cullen/Frost Bankers by 175.8% during the 3rd quarter. Alps Advisors Inc. now owns 11,532 shares of the bank’s stock valued at $1,204,000 after purchasing an additional 7,350 shares during the period. Institutional investors and hedge funds own 78.97% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Thursday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 49.17%.
Cullen/Frost Bankers Company Profile
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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