Equities research analysts expect that Cullen/Frost Bankers, Inc. (NYSE:CFR) will report sales of $337.41 million for the current quarter, Zacks reports. Six analysts have made estimates for Cullen/Frost Bankers’ earnings. The highest sales estimate is $352.90 million and the lowest is $328.05 million. Cullen/Frost Bankers posted sales of $300.83 million in the same quarter last year, which suggests a positive year over year growth rate of 12.2%. The firm is expected to report its next earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Cullen/Frost Bankers will report full year sales of $1.36 billion for the current fiscal year, with estimates ranging from $1.31 billion to $1.41 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.46 billion, with estimates ranging from $1.38 billion to $1.53 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cullen/Frost Bankers.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, July 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.05. The company had revenue of $322.34 million for the quarter, compared to analyst estimates of $342.89 million. Cullen/Frost Bankers had a net margin of 31.38% and a return on equity of 13.08%. During the same period in the prior year, the firm earned $1.29 earnings per share.
NYSE:CFR traded down $2.04 on Friday, reaching $99.36. 700,449 shares of the company’s stock were exchanged, compared to its average volume of 413,668. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $6.67 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.62 and a beta of 1.33. Cullen/Frost Bankers has a 52-week low of $92.03 and a 52-week high of $121.66.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, August 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 49.17%.
Several hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its holdings in shares of Cullen/Frost Bankers by 3.3% in the second quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the bank’s stock valued at $1,699,000 after acquiring an additional 500 shares during the period. Northwestern Mutual Wealth Management Co. boosted 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 valued at $134,000 after acquiring an additional 511 shares during the period. Creative Planning boosted its holdings in shares of Cullen/Frost Bankers by 15.5% in the second quarter. Creative Planning now owns 4,149 shares of the bank’s stock valued at $449,000 after acquiring an additional 556 shares during the period. Maltese Capital Management LLC boosted its holdings in shares of Cullen/Frost Bankers by 0.4% in the second quarter. Maltese Capital Management LLC now owns 158,400 shares of the bank’s stock valued at $17,145,000 after acquiring an additional 600 shares during the period. Finally, Beacon Financial Group boosted its holdings in shares of Cullen/Frost Bankers by 27.8% in the second quarter. Beacon Financial Group now owns 2,804 shares of the bank’s stock valued at $304,000 after acquiring an additional 610 shares during the period. 79.57% of the stock is owned by institutional investors and hedge funds.
Cullen/Frost Bankers Company Profile
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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