$388.80 Million in Sales Expected for Cullen/Frost Bankers, Inc. (NYSE:CFR) This Quarter

Equities research analysts expect that Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) will post sales of $388.80 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Cullen/Frost Bankers’ earnings, with the highest sales estimate coming in at $405.40 million and the lowest estimate coming in at $359.40 million. Cullen/Frost Bankers posted sales of $371.24 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.7%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Cullen/Frost Bankers will report full-year sales of $1.58 billion for the current financial year, with estimates ranging from $1.44 billion to $1.70 billion. For the next financial year, analysts forecast that the business will post sales of $1.80 billion, with estimates ranging from $1.54 billion to $2.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Cullen/Frost Bankers.

Cullen/Frost Bankers (NYSE:CFR – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The bank reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.03. Cullen/Frost Bankers had a return on equity of 10.40% and a net margin of 30.15%. During the same period in the prior year, the company earned $1.77 earnings per share.

Several brokerages recently weighed in on CFR. Wolfe Research raised Cullen/Frost Bankers from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $157.00 to $171.00 in a report on Thursday, April 7th. Maxim Group reaffirmed a “buy” rating and set a $162.00 price target on shares of Cullen/Frost Bankers in a report on Friday, April 29th. Wedbush increased their price target on Cullen/Frost Bankers from $121.00 to $132.00 in a report on Friday, January 28th. Bank of America raised Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating and set a $144.00 price target for the company in a report on Friday, April 8th. Finally, Raymond James raised Cullen/Frost Bankers from a “market perform” rating to an “outperform” rating and set a $160.00 price target for the company in a report on Wednesday, April 6th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $142.70.

Shares of NYSE CFR opened at $126.93 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a fifty day moving average price of $138.48 and a 200 day moving average price of $135.68. Cullen/Frost Bankers has a 1-year low of $100.35 and a 1-year high of $147.39. The company has a market cap of $8.14 billion, a PE ratio of 19.53, a P/E/G ratio of 1.84 and a beta of 1.22.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Friday, May 27th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 46.15%.

In other news, Director Chris Avery purchased 5,000 shares of the company’s stock in a transaction dated Monday, May 2nd. The stock was acquired at an average price of $131.55 per share, for a total transaction of $657,750.00. Following the completion of the transaction, the director now directly owns 17,000 shares in the company, valued at approximately $2,236,350. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.76% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Cullen/Frost Bankers by 13.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,540 shares of the bank’s stock valued at $352,000 after buying an additional 293 shares in the last quarter. Toronto Dominion Bank purchased a new stake in Cullen/Frost Bankers during the 1st quarter worth about $2,256,000. Swiss National Bank increased its position in Cullen/Frost Bankers by 7.4% during the 1st quarter. Swiss National Bank now owns 143,100 shares of the bank’s stock worth $19,806,000 after purchasing an additional 9,900 shares in the last quarter. Teacher Retirement System of Texas increased its position in Cullen/Frost Bankers by 6.0% during the 1st quarter. Teacher Retirement System of Texas now owns 12,381 shares of the bank’s stock worth $1,714,000 after purchasing an additional 697 shares in the last quarter. Finally, Americana Partners LLC purchased a new stake in Cullen/Frost Bankers during the 1st quarter worth about $208,000. Institutional investors and hedge funds own 81.69% of the company’s stock.

About Cullen/Frost Bankers (Get Rating)

Cullen/Frost Bankers, Inc operates as the bank 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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