Brokerages expect that Cullen/Frost Bankers, Inc. (NYSE:CFR) will post sales of $327.94 million for the current quarter, Zacks reports. Five analysts have provided estimates for Cullen/Frost Bankers’ earnings, with estimates ranging from $312.30 million to $338.60 million. Cullen/Frost Bankers posted sales of $292.21 million during the same quarter last year, which suggests a positive year over year growth rate of 12.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Cullen/Frost Bankers will report full year sales of $327.94 million for the current financial year, with estimates ranging from $1.29 billion to $1.40 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.44 billion per share, with estimates ranging from $1.37 billion to $1.48 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Cullen/Frost Bankers.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, January 25th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.39 by $0.08. Cullen/Frost Bankers had a return on equity of 11.78% and a net margin of 29.62%. The business had revenue of $358.69 million for the quarter, compared to the consensus estimate of $351.34 million. During the same period last year, the business posted $1.28 EPS. The company’s revenue was up 6.0% compared to the same quarter last year.
In other news, Director R Denny Alexander sold 2,000 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $109.54, for a total value of $219,080.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William L. Perotti sold 13,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $105.57, for a total value of $1,372,410.00. Following the completion of the transaction, the executive vice president now owns 92,382 shares in the company, valued at $9,752,767.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,860 shares of company stock worth $5,935,474. Company insiders own 5.15% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CFR. Nationwide Fund Advisors boosted its stake in shares of Cullen/Frost Bankers by 3.8% in the 3rd quarter. Nationwide Fund Advisors now owns 179,649 shares of the bank’s stock worth $17,052,000 after buying an additional 6,635 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Cullen/Frost Bankers in the 3rd quarter worth $770,000. Victory Capital Management Inc. raised its holdings in Cullen/Frost Bankers by 401.7% in the 3rd quarter. Victory Capital Management Inc. now owns 72,745 shares of the bank’s stock worth $6,905,000 after purchasing an additional 58,246 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Cullen/Frost Bankers by 3.1% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 68,758 shares of the bank’s stock worth $6,527,000 after purchasing an additional 2,040 shares during the period. Finally, FDx Advisors Inc. raised its holdings in Cullen/Frost Bankers by 23.8% in the 3rd quarter. FDx Advisors Inc. now owns 4,132 shares of the bank’s stock worth $392,000 after purchasing an additional 795 shares during the period. Hedge funds and other institutional investors own 80.20% of the company’s stock.
Shares of Cullen/Frost Bankers (CFR) traded up $0.41 on Wednesday, reaching $109.60. The company’s stock had a trading volume of 957,579 shares, compared to its average volume of 341,219. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers has a 1-year low of $81.09 and a 1-year high of $111.10. The stock has a market cap of $6,953.45, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.33.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were paid a $0.57 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.08%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 41.38%.
COPYRIGHT VIOLATION WARNING: This piece was first published by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://www.themarketsdaily.com/2018/03/18/brokerages-expect-cullen-frost-bankers-inc-cfr-will-announce-quarterly-sales-of-327-94-million.html.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cullen/Frost Bankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers and related companies with MarketBeat.com's FREE daily email newsletter.