Cullen/Frost Bankers, Inc. (NYSE:CFR) Expected to Announce Earnings of $1.71 Per Share

Wall Street brokerages expect Cullen/Frost Bankers, Inc. (NYSE:CFR) to post $1.71 earnings per share for the current quarter, according to Zacks. Six analysts have issued estimates for Cullen/Frost Bankers’ earnings, with estimates ranging from $1.65 to $1.75. Cullen/Frost Bankers reported earnings per share of $1.78 in the same quarter last year, which suggests a negative year over year growth rate of 3.9%. The company is expected to announce its next earnings report on Thursday, October 24th.

On average, analysts expect that Cullen/Frost Bankers will report full year earnings of $6.85 per share for the current financial year, with EPS estimates ranging from $6.75 to $6.92. For the next financial year, analysts expect that the company will post earnings of $6.66 per share, with EPS estimates ranging from $6.43 to $7.11. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Cullen/Frost Bankers.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $1.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.72. Cullen/Frost Bankers had a return on equity of 13.85% and a net margin of 31.57%. The company had revenue of $360.39 million during the quarter, compared to analysts’ expectations of $364.59 million. During the same quarter in the previous year, the business earned $1.68 EPS.



A number of equities analysts recently issued reports on CFR shares. Bank of America cut Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $102.00 to $87.00 in a report on Thursday, July 11th. They noted that the move was a valuation call. Stephens set a $100.00 price objective on Cullen/Frost Bankers and gave the company a “hold” rating in a report on Friday, April 26th. Maxim Group restated a “buy” rating and set a $105.00 price objective (down previously from $110.00) on shares of Cullen/Frost Bankers in a report on Monday, July 29th. Wedbush upped their target price on Cullen/Frost Bankers from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Finally, Zacks Investment Research upgraded Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $99.33.

CFR traded down $2.71 during trading hours on Friday, reaching $81.91. 352,559 shares of the company’s stock traded hands, compared to its average volume of 385,095. The firm has a 50-day moving average price of $90.21 and a 200 day moving average price of $96.67. Cullen/Frost Bankers has a 52-week low of $81.64 and a 52-week high of $113.70. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.29 billion, a PE ratio of 11.87, a PEG ratio of 1.30 and a beta of 1.33.

Cullen/Frost Bankers announced that its Board of Directors has authorized a stock buyback program on Thursday, July 25th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to purchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Thursday, August 29th. Cullen/Frost Bankers’s dividend payout ratio is 41.16%.

In related news, insider Patrick B. Frost sold 9,360 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $94.26, for a total transaction of $882,273.60. Following the completion of the sale, the insider now directly owns 157,433 shares in the company, valued at approximately $14,839,634.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles W. Matthews acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average price of $94.32 per share, with a total value of $94,320.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at $282,960. The disclosure for this purchase can be found here. 4.84% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CFR. JPMorgan Chase & Co. lifted its stake in shares of Cullen/Frost Bankers by 27.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,757,310 shares of the bank’s stock worth $267,652,000 after purchasing an additional 600,509 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth $13,541,000. Invesco Ltd. lifted its stake in shares of Cullen/Frost Bankers by 4.9% during the 2nd quarter. Invesco Ltd. now owns 2,631,373 shares of the bank’s stock worth $246,454,000 after purchasing an additional 122,087 shares during the last quarter. Nuance Investments LLC purchased a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth $9,583,000. Finally, Ellis Investment Partners LLC purchased a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth $89,000. Hedge funds and other institutional investors own 80.78% of the company’s stock.

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. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

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Earnings History and Estimates for Cullen/Frost Bankers (NYSE:CFR)

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