Cullen/Frost Bankers Inc. (NYSE:CFR) – Investment analysts at Wedbush increased their Q3 2016 earnings per share (EPS) estimates for Cullen/Frost Bankers in a research report issued to clients and investors on Wednesday. Wedbush analyst now anticipates that the firm will earn $1.17 per share for the quarter, up from their prior estimate of $1.16. Wedbush has a “Neutral” rating and a $68.00 price objective on the stock. Wedbush also issued estimates for Cullen/Frost Bankers’ FY2016 earnings at $4.55 EPS and FY2017 earnings at $4.72 EPS.
Several other brokerages have also weighed in on CFR. Jefferies Group increased their price objective on shares of Cullen/Frost Bankers from $61.00 to $67.00 and gave the company a “hold” rating in a research report on Thursday, July 28th. 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. Zacks Investment Research lowered shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. 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. Finally, 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. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $67.83.
Cullen/Frost Bankers (NYSE:CFR) opened at 72.11 on Thursday. Cullen/Frost Bankers has a 52 week low of $42.41 and a 52 week high of $74.12. The firm has a 50 day moving average of $71.27 and a 200-day moving average of $65.73. The company has a market capitalization of $4.48 billion, a P/E ratio of 17.04 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 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 period in the prior year, the firm earned $1.11 earnings per share.
Several large investors have recently bought and sold shares of the stock. Bessemer Group Inc. increased its stake 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 last quarter. Creative Planning increased its stake 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 last quarter. Rench Wealth Management Inc. bought a new stake in Cullen/Frost Bankers during the second quarter worth $204,000. LS Investment Advisors LLC increased its stake 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 last quarter. Finally, Fruth Investment Management bought a new stake in Cullen/Frost Bankers during the second quarter worth $216,000. Institutional investors own 84.76% of the company’s stock.
In other news, Chairman Phillip D. Green sold 13,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $69.42, for a total value of $937,170.00. Following the sale, the chairman now directly owns 49,763 shares in the company, valued at approximately $3,454,547.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard Kardys sold 25,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $69.54, for a total transaction of $1,773,270.00. Following the completion of the sale, the insider now owns 128,078 shares in the company, valued at $8,906,544.12. The disclosure for this sale can be found here. 8.03% of the stock is currently owned by insiders.
The business also recently declared 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 3.00%. Cullen/Frost Bankers’s payout ratio is currently 50.82%.
Cullen/Frost Bankers Company Profile
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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