Cullen/Frost Bankers, Inc. (NYSE:CFR) – Jefferies Financial Group raised its first-quarter 2022 earnings per share estimate for shares of Cullen/Frost Bankers in a research report released Sunday, February 13. Jefferies Financial Group analyst C. Haire now expects the bank to earn $1.54 per share for the quarter, up from its previous estimate of $1.47. Jefferies Financial Group also released estimates for Cullen/Frost Bankers Q2 2022 earnings at $1.66 EPS and Q4 2023 earnings at $1.95 EPS. Cullen/Frost Bankers Inc (NYSE:CFR) last announced its results on Thursday, January 27. The bank reported earnings per share of $1.54 for the quarter, beating Thomson Reuters consensus estimate of $1.34 by $0.20. Cullen/Frost Bankers had a return on equity of 10.57% and a net margin of 31.19%. The company posted revenue of $349.76 million in the quarter, compared to $350.93 million expected by analysts. In the same quarter last year, the company posted earnings per share of $1.38. The company’s quarterly revenue increased 4.9% year over year.
Several other research analysts have also weighed in on the company recently. Maxim Group raised its price target on Cullen/Frost Bankers from $157.00 to $162.00 in a Friday, January 28 research note. Royal Bank of Canada raised its price target on Cullen/Frost Bankers from $126.00 to $135.00 and gave the company an “industry performance” rating in a Friday, October 29 research note. Morgan Stanley raised its price target on Cullen/Frost Bankers from $100.00 to $108.00 and gave the company an “underweight” rating in a research report Monday, Dec. 6. Stephens raised his price target on Cullen/Frost Bankers from $120.00 to $134.00 and gave the company an “equal weight” rating in a Friday, October 29 research report. Finally, Zacks Investment Research upgraded Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a price target of $151.00 for the company in a Wednesday, February 2 research report. Three research analysts have assigned the stock a sell rating, three have assigned a hold rating and two have assigned the stock a buy rating. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $136.00.
CFR shares opened at $142.56 on Tuesday. The stock has a 50-day simple moving average of $133.59 and a 200-day simple moving average of $125.54. Cullen/Frost Bankers has a fifty-two week low of $100.12 and a fifty-two week high of $147.39. The stock has a market capitalization of $9.13 billion, a P/E ratio of 21.09, a P/E/G ratio of 2.35 and a beta of 1.30. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt ratio of 0.06.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 15. Investors of record on Monday, February 28 will receive a dividend of $0.75. This represents an annualized dividend of $3.00 and a yield of 2.10%. The ex-dividend date is Friday, February 25. The Cullen/Frost Bankers dividend payout ratio is currently 44.38%.
Separately, insider Patrick B. Frost sold 6,601 shares in a trade dated Friday, February 4. The stock was sold at an average price of $139.33, for a total value of $919,717.33. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. 4.50% of the shares are currently held by insiders.
Institutional investors and hedge funds have recently been buying and selling shares of the company. UMB Bank NA MO purchased a new stake in shares of Cullen/Frost Bankers during Q4 for a value of approximately $25,000. Clearstead Advisors LLC bought a new stock position in Cullen/Frost Bankers in Q3, valued at around $27,000. Meeder Asset Management Inc. increased its stake in Cullen/Frost Bankers shares to 83.2% in Q3. Meeder Asset Management Inc. now owns 251 shares of the bank valued at $30,000 after acquiring 114 additional shares last quarter. Benjamin Edwards Inc. bought a new position in Cullen/Frost Bankers stock in Q3 valued at around $33,000. Finally, Steward Financial Group LLC bought a new position in Cullen/Frost Bankers stock in Q4 valued at around $37,000. 82.51% of the shares are held by institutional investors.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the banking holding company of Frost Bank, which provides commercial and consumer banking, as well as trust and investment management, mutual funds, investment banking , insurance, brokerage, leasing, asset-lending, cash management and item processing services.
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