Brokerages Expect Cullen/Frost Bankers, Inc. (NYSE:CFR) Will Announce Earnings of $1.70 Per Share

Analysts predict that Cullen/Frost Bankers, Inc. (NYSE:CFR) will post $1.70 earnings per share for the current quarter, according to Zacks. Six analysts have provided estimates for Cullen/Frost Bankers’ earnings, with the lowest EPS estimate coming in at $1.66 and the highest estimate coming in at $1.75. Cullen/Frost Bankers posted earnings per share of $1.78 during the same quarter last year, which indicates a negative year-over-year growth rate of 4.5%. The firm is expected to announce its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Cullen/Frost Bankers will report full year earnings of $6.82 per share for the current financial year, with EPS estimates ranging from $6.76 to $6.90. For the next fiscal year, analysts expect that the firm will report earnings of $6.50 per share, with EPS estimates ranging from $6.20 to $7.11. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Cullen/Frost Bankers.

Cullen/Frost Bankers (NYSE:CFR) last released 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 net margin of 31.57% and a return on equity of 13.85%. The firm had revenue of $360.39 million for the quarter, compared to the consensus estimate of $364.59 million. During the same period last year, the firm earned $1.68 earnings per share.



A number of equities analysts have recently issued reports on CFR shares. Piper Jaffray Companies set a $100.00 price objective on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a research note on Friday, July 26th. ValuEngine upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley dropped their price objective on shares of Cullen/Frost Bankers from $94.00 to $92.00 and set an “underweight” rating on the stock in a research note on Thursday, October 3rd. Maxim Group reiterated a “buy” rating and set a $105.00 price objective (down from $110.00) on shares of Cullen/Frost Bankers in a research note on Monday, July 29th. Finally, Bank of America downgraded shares of 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 research note on Thursday, July 11th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $98.56.

Shares of NYSE CFR traded up $1.41 during midday trading on Wednesday, reaching $83.65. 5,443 shares of the company’s stock traded hands, compared to its average volume of 313,526. 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 stock’s 50 day simple moving average is $85.61 and its 200-day simple moving average is $92.96. Cullen/Frost Bankers has a one year low of $79.86 and a one year high of $107.23. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.30 and a beta of 1.38.

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.71 dividend. The ex-dividend date was Thursday, August 29th. This represents a $2.84 annualized dividend and a yield of 3.40%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 41.16%.

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

In other Cullen/Frost Bankers news, insider Patrick B. Frost sold 9,360 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $94.26, for a total value of $882,273.60. Following the completion of the sale, the insider now directly owns 157,433 shares in the company, valued at $14,839,634.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carlos Alvarez bought 30,000 shares of the stock in a transaction on Friday, August 16th. The stock was purchased at an average price of $85.08 per share, with a total value of $2,552,400.00. Following the completion of the purchase, the director now owns 454,000 shares of the company’s stock, valued at $38,626,320. The disclosure for this purchase can be found here. 4.84% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Robinson Value Management Ltd. acquired a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $28,000. Quantamental Technologies LLC acquired a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $38,000. Machina Capital S.A.S. acquired a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $47,000. Coastal Investment Advisors Inc. acquired a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $49,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Cullen/Frost Bankers by 42.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 983 shares of the bank’s stock valued at $95,000 after acquiring an additional 295 shares in the last quarter. Institutional investors own 80.58% of the company’s stock.

About Cullen/Frost Bankers

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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