Cullen/Frost Bankers (NYSE:CFR) Announces Earnings Results, Beats Estimates By $0.19 EPS

Cullen/Frost Bankers (NYSE:CFR) issued its quarterly earnings data on Thursday. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.17 by $0.19, Zacks reports. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%.

Cullen/Frost Bankers Stock Down 0.8 %

NYSE CFR opened at $139.39 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 52 week low of $94.09 and a 52 week high of $147.64. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.71 and a beta of 1.00. The company has a fifty day moving average of $137.88 and a two-hundred day moving average of $124.76.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, February 28th. This represents a $3.80 annualized dividend and a yield of 2.73%. Cullen/Frost Bankers’s payout ratio is presently 47.15%.

Insider Transactions at Cullen/Frost Bankers

In other news, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the transaction, the chief executive officer now owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. This represents a 13.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.89% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CFR. Stephens raised their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Compass Point boosted their target price on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $144.00 target price on shares of Cullen/Frost Bankers in a research note on Friday. Maxim Group raised their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods increased their target price on Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $129.00.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.