Wall Street brokerages expect Cullen/Frost Bankers, Inc. (NYSE:CFR) to announce $337.41 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Cullen/Frost Bankers’ earnings, with the lowest sales estimate coming in at $328.05 million and the highest estimate coming in at $352.90 million. Cullen/Frost Bankers reported sales of $300.83 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.2%. The business is expected to report its next earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Cullen/Frost Bankers will report full-year sales of $1.36 billion for the current fiscal year, with estimates ranging from $1.31 billion to $1.41 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.46 billion, with estimates ranging from $1.38 billion to $1.53 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Cullen/Frost Bankers.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.05. The business had revenue of $322.34 million for the quarter, compared to analyst estimates of $342.89 million. Cullen/Frost Bankers had a net margin of 31.38% and a return on equity of 13.08%. During the same quarter last year, the firm earned $1.29 EPS.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Morgan Stanley reaffirmed a “hold” rating and set a $115.00 target price on shares of Cullen/Frost Bankers in a research note on Tuesday, September 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $118.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $116.00.
Cullen/Frost Bankers stock traded down $2.04 during trading hours on Friday, reaching $99.36. The stock had a trading volume of 700,449 shares, compared to its average volume of 413,668. The firm has a market cap of $6.67 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.62 and a beta of 1.33. Cullen/Frost Bankers has a 52 week low of $92.03 and a 52 week high of $121.66. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.07.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Thursday, August 30th. Cullen/Frost Bankers’s payout ratio is 49.17%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC raised its holdings in Cullen/Frost Bankers by 564.6% in the first quarter. Lord Abbett & CO. LLC now owns 957,194 shares of the bank’s stock worth $101,530,000 after buying an additional 813,179 shares during the last quarter. Millennium Management LLC purchased a new position in Cullen/Frost Bankers in the second quarter worth about $21,089,000. Marshall Wace LLP purchased a new position in Cullen/Frost Bankers in the second quarter worth about $18,411,000. Natixis purchased a new position in Cullen/Frost Bankers in the second quarter worth about $10,847,000. Finally, Aristotle Capital Management LLC raised its holdings in Cullen/Frost Bankers by 4.7% in the first quarter. Aristotle Capital Management LLC now owns 2,102,577 shares of the bank’s stock worth $223,020,000 after buying an additional 93,525 shares during the last quarter. 79.57% of the stock is currently owned by hedge funds and other institutional investors.
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. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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