Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities research analysts at Wedbush dropped their Q4 2018 EPS estimates for shares of Cullen/Frost Bankers in a report issued 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 prior 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.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 25th. The bank reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $353.34 million during the quarter, compared to analysts’ expectations of $337.41 million. Cullen/Frost Bankers had a net margin of 32.11% and a return on equity of 13.74%. During the same quarter in the previous year, the company posted $1.41 EPS.
CFR opened at $97.17 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.63 and a quick ratio of 0.63. Cullen/Frost Bankers has a 12 month low of $90.02 and a 12 month high of $121.66. The firm has a market capitalization of $5.96 billion, a P/E ratio of 17.83, a PEG ratio of 1.44 and a beta of 1.33.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CFR. Bank of America Corp DE boosted its stake in Cullen/Frost Bankers by 5.7% in the 2nd quarter. Bank of America Corp DE now owns 662,987 shares of the bank’s stock worth $71,762,000 after purchasing an additional 35,835 shares during the period. Twin Capital Management Inc. boosted its stake in Cullen/Frost Bankers by 2.8% in the 2nd quarter. Twin Capital Management Inc. now owns 33,750 shares of the bank’s stock worth $3,653,000 after purchasing an additional 930 shares during the period. Millennium Management LLC acquired a new position in Cullen/Frost Bankers in the 2nd quarter worth $21,089,000. Envestnet Asset Management Inc. boosted its stake in Cullen/Frost Bankers by 3.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 25,518 shares of the bank’s stock worth $2,762,000 after purchasing an additional 790 shares during the period. Finally, WealthPLAN Partners LLC boosted its stake in Cullen/Frost Bankers by 25.0% in the 2nd quarter. WealthPLAN Partners LLC now owns 24,817 shares of the bank’s stock worth $2,687,000 after purchasing an additional 4,961 shares during the period. Institutional investors and hedge funds own 78.97% of the company’s stock.
In other news, Director Carlos Alvarez acquired 54,000 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average price of $93.71 per share, for a total transaction of $5,060,340.00. Following the transaction, the director now directly owns 386,500 shares in the company, valued at $36,218,915. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.64% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 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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