Cullen/Frost Bankers Inc. (NYSE:CFR) – Research analysts at Jefferies Group upped their FY2016 earnings per share estimates for shares of Cullen/Frost Bankers in a research note issued to investors on Thursday. Jefferies Group analyst C. Haire now forecasts that the brokerage will post earnings of $4.64 per share for the year, up from their prior estimate of $4.52. Jefferies Group currently has a “Hold” rating and a $67.00 target price on the stock. Jefferies Group also issued estimates for Cullen/Frost Bankers’ Q4 2016 earnings at $1.19 EPS, Q1 2017 earnings at $1.11 EPS, Q2 2017 earnings at $1.15 EPS, Q3 2017 earnings at $1.21 EPS and Q4 2017 earnings at $1.23 EPS.
CFR has been the topic of a number of other reports. Zacks Investment Research raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. Bank of America Corp. raised Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating in a report on Friday. RBC Capital Markets reissued a “sector perform” rating and set a $75.00 price target (up from $70.00) on shares of Cullen/Frost Bankers in a report on Thursday. Deutsche Bank AG raised their price target on Cullen/Frost Bankers from $66.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, October 11th. Finally, Barclays PLC raised their price objective on Cullen/Frost Bankers from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $68.18.
Cullen/Frost Bankers (NYSE:CFR) opened at 76.00 on Friday. The firm’s 50-day moving average price is $71.94 and its 200-day moving average price is $67.20. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 17.67 and a beta of 1.11. Cullen/Frost Bankers has a 52-week low of $42.41 and a 52-week high of $77.68.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. The business earned $317.78 million during the quarter, compared to analyst estimates of $301.04 million. Cullen/Frost Bankers had a return on equity of 9.61% and a net margin of 25.06%. Cullen/Frost Bankers’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 EPS.
Several hedge funds have recently bought and sold shares of CFR. BlackRock Group LTD increased its stake in Cullen/Frost Bankers by 5.9% in the first quarter. BlackRock Group LTD now owns 62,048 shares of the company’s stock valued at $3,420,000 after buying an additional 3,462 shares in the last quarter. State Street Corp increased its stake in Cullen/Frost Bankers by 23.6% in the first quarter. State Street Corp now owns 6,959,482 shares of the company’s stock valued at $383,537,000 after buying an additional 1,327,149 shares in the last quarter. Riverhead Capital Management LLC increased its stake in Cullen/Frost Bankers by 971.1% in the first quarter. Riverhead Capital Management LLC now owns 110,327 shares of the company’s stock valued at $6,080,000 after buying an additional 100,027 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Cullen/Frost Bankers by 24.7% in the first quarter. Goldman Sachs Group Inc. now owns 277,547 shares of the company’s stock valued at $15,295,000 after buying an additional 54,902 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Cullen/Frost Bankers by 6.3% in the first quarter. Geode Capital Management LLC now owns 337,276 shares of the company’s stock valued at $18,587,000 after buying an additional 20,062 shares in the last quarter. 84.71% of the stock is owned by hedge funds and other institutional investors.
In other Cullen/Frost Bankers news, insider Patrick B. Frost sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $67.73, for a total transaction of $711,165.00. Following the completion of the transaction, the insider now owns 160,147 shares in the company, valued at $10,846,756.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bobby Berman sold 7,101 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $70.46, for a total value of $500,336.46. Following the transaction, the insider now owns 31,347 shares of the company’s stock, valued at approximately $2,208,709.62. The disclosure for this sale can be found here. Company insiders own 8.03% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.54 per share. The ex-dividend date is Monday, November 28th. This represents a $2.16 annualized dividend and a dividend yield of 2.84%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 50.00%.
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