The Jefferies Group Analysts Decrease Earnings Estimates for Cullen/Frost Bankers Inc. (CFR)

The Jefferies Group Analysts Decrease Earnings Estimates for Cullen/Frost Bankers Inc. (CFR)

Cullen/Frost Bankers Inc. (NYSE:CFR) – Equities researchers at Jefferies Group dropped their Q4 2016 earnings per share estimates for Cullen/Frost Bankers in a report released on Tuesday. Jefferies Group analyst E. Harmon now forecasts that the brokerage will post earnings per share of $1.17 for the quarter, down from their prior estimate of $1.20. Jefferies Group has a “Hold” rating and a $67.00 price target on the stock. Jefferies Group also issued estimates for Cullen/Frost Bankers’ Q1 2017 earnings at $1.07 EPS, Q2 2017 earnings at $1.14 EPS, Q3 2017 earnings at $1.23 EPS and Q4 2017 earnings at $1.25 EPS.

A number of other analysts have also recently issued reports on CFR. Zacks Investment Research cut shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Vetr lowered shares of Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price target on the stock. in a research report on Tuesday, June 28th. JPMorgan Chase & Co. raised their price target on shares of Cullen/Frost Bankers from $55.00 to $58.00 and gave the stock an “underweight” rating in a research report on Thursday, July 7th. Royal Bank Of Canada raised their price target on shares of Cullen/Frost Bankers from $63.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 28th. Finally, Maxim Group raised their price target on shares of Cullen/Frost Bankers from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $67.83.

Cullen/Frost Bankers (NYSE:CFR) opened at 71.04 on Thursday. Cullen/Frost Bankers has a 12 month low of $42.41 and a 12 month high of $74.12. The stock’s 50 day moving average is $71.28 and its 200-day moving average is $65.62. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 16.79 and a beta of 1.11.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a net margin of 24.81% and a return on equity of 9.67%. During the same quarter last year, the business earned $1.11 EPS.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Cullen/Frost Bankers by 12.7% in the first quarter. Wellington Management Group LLP now owns 599,782 shares of the company’s stock worth $33,053,000 after buying an additional 67,792 shares during the period. Geode Capital Management LLC increased its position in shares of Cullen/Frost Bankers by 6.3% in the first quarter. Geode Capital Management LLC now owns 337,276 shares of the company’s stock worth $18,587,000 after buying an additional 20,062 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Cullen/Frost Bankers by 24.7% in the first quarter. Goldman Sachs Group Inc. now owns 277,547 shares of the company’s stock worth $15,295,000 after buying an additional 54,902 shares during the period. Riverhead Capital Management LLC increased its position in shares of Cullen/Frost Bankers by 971.1% in the first quarter. Riverhead Capital Management LLC now owns 110,327 shares of the company’s stock worth $6,080,000 after buying an additional 100,027 shares during the period. Finally, Rafferty Asset Management LLC increased its position in shares of Cullen/Frost Bankers by 862.4% in the first quarter. Rafferty Asset Management LLC now owns 50,392 shares of the company’s stock worth $2,777,000 after buying an additional 45,156 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

In other news, insider Patrick B. Frost sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $67.73, for a total value of $711,165.00. Following the transaction, the insider now owns 160,147 shares in the company, valued at approximately $10,846,756.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Candace K. Wolfshohl sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $69.88, for a total transaction of $314,460.00. Following the completion of the transaction, the insider now owns 8,145 shares in the company, valued at approximately $569,172.60. The disclosure for this sale can be found here. Corporate insiders own 8.03% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.16 annualized dividend and a yield of 3.04%. Cullen/Frost Bankers’s dividend payout ratio is presently 50.82%.

Cullen/Frost Bankers Company Profile

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