Cullen/Frost Bankers, Inc. (NYSE:CFR) – Investment analysts at Jefferies Group lowered their FY2017 earnings per share estimates for Cullen/Frost Bankers in a note issued to investors on Monday. Jefferies Group analyst C. Haire now anticipates that the bank will post earnings per share of $5.23 for the year, down from their prior forecast of $5.25. Jefferies Group currently has a “Hold” rating and a $95.00 target price on the stock. Jefferies Group also issued estimates for Cullen/Frost Bankers’ FY2018 earnings at $5.60 EPS and FY2019 earnings at $6.05 EPS.
A number of other 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 $107.00 price target on the stock in a research report on Friday, July 7th. Morgan Stanley reissued an “equal weight” rating and issued a $93.00 price target (up from $90.00) on shares of Cullen/Frost Bankers in a research report on Thursday, July 6th. BidaskClub cut Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Barclays PLC set a $97.00 price target on Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Sunday, July 30th. Finally, J P Morgan Chase & Co cut Cullen/Frost Bankers from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $100.00 to $88.00 in a research report on Monday, July 31st. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Cullen/Frost Bankers has an average rating of “Hold” and an average price target of $95.13.
Shares of Cullen/Frost Bankers (NYSE:CFR) opened at 96.75 on Tuesday. The stock has a market capitalization of $6.21 billion, a P/E ratio of 19.06 and a beta of 1.35. Cullen/Frost Bankers has a 52 week low of $69.86 and a 52 week high of $99.20. The stock has a 50 day moving average price of $89.32 and a 200 day moving average price of $91.36.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 EPS for the quarter, hitting the consensus estimate of $1.29. The firm had revenue of $295.87 million during the quarter, compared to the consensus estimate of $316.40 million. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. During the same period in the prior year, the business posted $1.11 earnings per share.
A number of hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its position in Cullen/Frost Bankers by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,259 shares of the bank’s stock valued at $494,000 after acquiring an additional 14 shares in the last quarter. Somerset Trust Co lifted its position in Cullen/Frost Bankers by 0.4% in the 2nd quarter. Somerset Trust Co now owns 6,938 shares of the bank’s stock valued at $651,000 after acquiring an additional 29 shares in the last quarter. Mosaic Family Wealth LLC lifted its position in Cullen/Frost Bankers by 4.9% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,718 shares of the bank’s stock valued at $161,000 after acquiring an additional 80 shares in the last quarter. Synovus Financial Corp lifted its position in Cullen/Frost Bankers by 2.6% in the 2nd quarter. Synovus Financial Corp now owns 3,254 shares of the bank’s stock valued at $306,000 after acquiring an additional 84 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in Cullen/Frost Bankers by 6.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 1,791 shares of the bank’s stock valued at $168,000 after acquiring an additional 107 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a $0.57 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $2.28 annualized dividend and a yield of 2.36%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 44.79%.
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.
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