Zacks: Brokerages Anticipate Cullen/Frost Bankers, Inc. (NYSE:CFR) to Post $1.60 EPS

Brokerages expect Cullen/Frost Bankers, Inc. (NYSE:CFR) to report earnings of $1.60 per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Cullen/Frost Bankers’ earnings, with the lowest EPS estimate coming in at $1.57 and the highest estimate coming in at $1.64. Cullen/Frost Bankers posted earnings per share of $1.82 during the same quarter last year, which would indicate a negative year over year growth rate of 12.1%. The company is scheduled to report its next earnings report on Thursday, January 30th.

On average, analysts expect that Cullen/Frost Bankers will report full-year earnings of $6.85 per share for the current financial year, with EPS estimates ranging from $6.81 to $6.93. For the next fiscal year, analysts expect that the company will report earnings of $6.18 per share, with EPS estimates ranging from $5.47 to $6.49. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that follow Cullen/Frost Bankers.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.04. Cullen/Frost Bankers had a net margin of 30.76% and a return on equity of 13.11%. The company had revenue of $365.84 million for the quarter, compared to analysts’ expectations of $364.56 million. During the same period last year, the firm posted $1.78 earnings per share.

Several research analysts have weighed in on the company. Wedbush lowered Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $87.00 to $82.00 in a report on Friday, November 1st. Maxim Group lowered their price target on Cullen/Frost Bankers from $105.00 to $100.00 and set a “buy” rating for the company in a report on Friday, November 1st. ValuEngine upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Morgan Stanley cut their price objective on Cullen/Frost Bankers from $92.00 to $89.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Finally, SunTrust Banks decreased their price objective on Cullen/Frost Bankers from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average target price of $93.67.

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,360 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $90.10, for a total transaction of $843,336.00. Following the completion of the transaction, the insider now owns 86,743 shares in the company, valued at approximately $7,815,544.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.84% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CFR. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Cullen/Frost Bankers by 5.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 76,879 shares of the bank’s stock valued at $7,463,000 after purchasing an additional 3,960 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Cullen/Frost Bankers in the 2nd quarter valued at about $205,000. First National Bank of Omaha grew its holdings in shares of Cullen/Frost Bankers by 2.1% in the 2nd quarter. First National Bank of Omaha now owns 25,846 shares of the bank’s stock valued at $2,421,000 after acquiring an additional 540 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Cullen/Frost Bankers by 14.1% in the 2nd quarter. Diversified Trust Co now owns 2,510 shares of the bank’s stock valued at $235,000 after acquiring an additional 310 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE acquired a new stake in shares of Cullen/Frost Bankers in the second quarter valued at about $5,971,000. Hedge funds and other institutional investors own 77.55% of the company’s stock.

Shares of CFR traded down $0.50 during trading hours on Friday, reaching $93.70. The stock had a trading volume of 14,238 shares, compared to its average volume of 430,913. The company has a market cap of $5.89 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.44 and a beta of 1.37. Cullen/Frost Bankers has a 52 week low of $79.86 and a 52 week high of $106.23. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $90.48 and a 200 day moving average of $91.21.

Cullen/Frost Bankers declared that its Board of Directors has authorized a share buyback program on Thursday, July 25th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 1.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

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Earnings History and Estimates for Cullen/Frost Bankers (NYSE:CFR)

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