Brokerages Expect Cullen/Frost Bankers, Inc. (CFR) Will Announce Quarterly Sales of $327.94 Million

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.

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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.

Several analysts have commented on the company. ValuEngine upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Stephens set a $110.00 target price on Cullen/Frost Bankers and gave the company a “hold” rating in a research note on Friday, February 9th. Barclays increased their target price on Cullen/Frost Bankers from $110.00 to $113.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Finally, Maxim Group reiterated a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Cullen/Frost Bankers in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus target price of $104.19.

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%.

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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.

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

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