Cullen/Frost Bankers, Inc. (NYSE:CFR) Expected to Announce Earnings of $1.42 Per Share


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Analysts expect Cullen/Frost Bankers, Inc. (NYSE:CFR) to report earnings per share (EPS) of $1.42 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cullen/Frost Bankers’ earnings. The lowest EPS estimate is $1.19 and the highest is $1.56. Cullen/Frost Bankers reported earnings per share of ($0.59) in the same quarter last year, which would indicate a positive year-over-year growth rate of 340.7%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, April 29th.

According to Zacks, analysts expect that Cullen/Frost Bankers will report full-year earnings of $5.43 per share for the current year, with EPS estimates ranging from $4.85 to $6.18. For the next fiscal year, analysts forecast that the firm will post earnings of $5.20 per share, with EPS estimates ranging from $4.41 to $5.89. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Cullen/Frost Bankers.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Wednesday, January 27th. The bank reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.10. The company had revenue of $357.06 million for the quarter, compared to the consensus estimate of $351.61 million. Cullen/Frost Bankers had a return on equity of 6.68% and a net margin of 22.81%. During the same quarter in the prior year, the business earned $1.60 EPS.

CFR has been the topic of a number of research analyst reports. Truist boosted their target price on Cullen/Frost Bankers from $96.00 to $111.00 in a research report on Monday, March 8th. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating and set a $128.00 price target for the company in a research note on Tuesday, April 13th. Truist Securities boosted their price objective on shares of Cullen/Frost Bankers from $96.00 to $111.00 and gave the company a “hold” rating in a research report on Monday, March 15th. Finally, Morgan Stanley raised their target price on shares of Cullen/Frost Bankers from $85.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday, March 24th. Five research analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $88.00.

In other Cullen/Frost Bankers news, Director Carlos Alvarez sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $99.12, for a total value of $3,964,800.00. Following the completion of the transaction, the director now owns 414,000 shares of the company’s stock, valued at approximately $41,035,680. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jerry Salinas sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $98.75, for a total value of $1,185,000.00. Following the completion of the sale, the chief financial officer now owns 32,206 shares of the company’s stock, valued at approximately $3,180,342.50. The disclosure for this sale can be found here. Insiders sold a total of 121,752 shares of company stock worth $12,463,335 in the last quarter. Insiders own 4.75% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Aristotle Capital Management LLC lifted its holdings in shares of Cullen/Frost Bankers by 9.3% during the 4th quarter. Aristotle Capital Management LLC now owns 4,540,487 shares of the bank’s stock worth $396,067,000 after acquiring an additional 387,700 shares during the period. King Luther Capital Management Corp lifted its position in shares of Cullen/Frost Bankers by 0.4% during the 4th quarter. King Luther Capital Management Corp now owns 2,318,925 shares of the bank’s stock worth $202,280,000 after buying an additional 9,220 shares during the period. Sprucegrove Investment Management Ltd. boosted its stake in Cullen/Frost Bankers by 77.6% in the 4th quarter. Sprucegrove Investment Management Ltd. now owns 943,207 shares of the bank’s stock valued at $82,276,000 after buying an additional 412,207 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Cullen/Frost Bankers by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 671,983 shares of the bank’s stock worth $58,618,000 after acquiring an additional 18,725 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Cullen/Frost Bankers in the 4th quarter valued at $46,857,000. 81.39% of the stock is currently owned by hedge funds and other institutional investors.

CFR traded up $1.93 on Friday, reaching $114.63. The company’s stock had a trading volume of 313,190 shares, compared to its average volume of 445,333. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.13 and a beta of 1.56. Cullen/Frost Bankers has a fifty-two week low of $55.53 and a fifty-two week high of $119.77. The stock has a 50 day moving average of $111.13 and a two-hundred day moving average of $91.71. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.06.

The business also recently announced a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, February 26th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, February 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.51%. Cullen/Frost Bankers’s payout ratio is currently 42.11%.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services, as well as trust and investment management, mutual funds, investment banking, insurance, brokerage, leasing, asset-based lending, treasury management and item processing services.

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

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