Jefferies Group Analysts Decrease Earnings Estimates for Cullen/Frost Bankers Inc. (CFR)
Cullen/Frost Bankers Inc. (NYSE:CFR) – Research analysts at Jefferies Group reduced their Q4 2016 earnings per share (EPS) estimates for shares of Cullen/Frost Bankers in a report released on Tuesday. Jefferies Group analyst E. Harmon now expects that the firm will post earnings of $1.17 per share for the quarter, down from their previous estimate of $1.20. Jefferies Group has a “Hold” rating and a $67.00 price objective 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.
Other equities analysts also recently issued research reports about the company. Vetr downgraded 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. Maxim Group increased their price target on Cullen/Frost Bankers from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research report on Monday, October 3rd. Deutsche Bank AG increased their price target on Cullen/Frost Bankers from $66.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods increased their price target on Cullen/Frost Bankers from $57.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, July 28th. Four research 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 stock presently has a consensus rating of “Hold” and a consensus price target 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 firm has a 50-day moving average price of $71.28 and a 200 day moving average price of $65.62. The company has a market cap of $4.41 billion, a P/E ratio of 16.79 and a beta of 1.11.
Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a return on equity of 9.67% and a net margin of 24.81%. During the same quarter in the prior year, the company posted $1.11 EPS.
Several large investors have recently modified their holdings of CFR. Bessemer Group Inc. raised its position in Cullen/Frost Bankers by 5.3% in the first quarter. Bessemer Group Inc. now owns 2,033 shares of the company’s stock worth $112,000 after buying an additional 103 shares during the period. Creative Planning raised its position in Cullen/Frost Bankers by 112.3% in the second quarter. Creative Planning now owns 3,132 shares of the company’s stock worth $200,000 after buying an additional 1,657 shares during the period. Rench Wealth Management Inc. bought a new position in Cullen/Frost Bankers during the second quarter worth about $204,000. LS Investment Advisors LLC raised its position in Cullen/Frost Bankers by 72.2% in the second quarter. LS Investment Advisors LLC now owns 3,267 shares of the company’s stock worth $208,000 after buying an additional 1,370 shares during the period. Finally, Fruth Investment Management bought a new position in Cullen/Frost Bankers during the second quarter worth about $216,000. 84.76% of the stock is owned by institutional investors and hedge funds.
In other news, insider Richard Kardys sold 25,500 shares of Cullen/Frost Bankers stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $69.54, for a total value of $1,773,270.00. Following the completion of the sale, the insider now directly owns 128,078 shares of the company’s stock, valued at $8,906,544.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack A. Wood sold 2,000 shares of Cullen/Frost Bankers stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $73.14, for a total value of $146,280.00. The disclosure for this sale can be found here. 8.03% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.54 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.04%. Cullen/Frost Bankers’s payout ratio is presently 50.82%.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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