Cullen/Frost Bankers (NYSE:CFR) Issues Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Cullen/Frost Bankers (NYSE:CFR) issued its earnings results on Thursday. The bank reported $2.36 earnings per share (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 Price Performance

Shares of NYSE CFR traded up $6.62 during mid-day trading on Thursday, hitting $145.42. 85,397 shares of the company’s stock traded hands, compared to its average volume of 425,040. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. Cullen/Frost Bankers has a 1 year low of $94.09 and a 1 year high of $147.64. The company’s 50-day moving average is $137.92 and its two-hundred day moving average is $124.43. The company has a market capitalization of $9.33 billion, a P/E ratio of 17.95, a PEG ratio of 1.73 and a beta of 1.00.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup upped their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods raised their price objective on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens upped their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Royal Bank of Canada increased their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, Maxim Group upped their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Four research 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, the company presently has a consensus rating of “Hold” and a consensus price target of $127.92.

Insider Buying and Selling

In other news, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 21,864 shares of company stock worth $2,977,033. Corporate insiders own 2.89% of the company’s stock.

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.