Research Analysts Issue Forecasts for Cullen/Frost Bankers, Inc.’s Q4 2018 Earnings (CFR)
Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities researchers at Jefferies Financial Group issued their Q4 2018 earnings estimates for shares of Cullen/Frost Bankers in a research note issued to investors on Tuesday, October 9th. Jefferies Financial Group analyst C. Haire anticipates that the bank will post earnings per share of $1.80 for the quarter.
A number of other research firms also recently commented on CFR. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $118.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, July 27th. Morgan Stanley reiterated a “hold” rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a report on Tuesday, September 18th. Finally, Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, ten have given 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 target price of $116.00.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 26th. The bank reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.05. The business had revenue of $322.34 million during the quarter, compared to the consensus estimate of $342.89 million. Cullen/Frost Bankers had a return on equity of 13.08% and a net margin of 31.38%. During the same quarter in the prior year, the company posted $1.29 earnings per share.
Several institutional investors have recently made changes to their positions in CFR. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cullen/Frost Bankers by 70.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,241 shares of the bank’s stock worth $134,000 after acquiring an additional 511 shares in the last quarter. Gables Capital Management Inc. bought a new stake in shares of Cullen/Frost Bankers in the first quarter worth about $148,000. Macquarie Group Ltd. bought a new stake in shares of Cullen/Frost Bankers in the second quarter worth about $184,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Cullen/Frost Bankers in the second quarter worth about $197,000. Finally, Huntington National Bank increased its holdings in shares of Cullen/Frost Bankers by 322.6% in the second quarter. Huntington National Bank now owns 1,834 shares of the bank’s stock worth $199,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors own 79.57% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a $0.67 dividend. The ex-dividend date was Thursday, August 30th. This represents a $2.68 annualized dividend and a dividend yield of 2.70%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 49.17%.
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. 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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