Cullen/Frost Bankers, Inc. (NYSE:CFR) Forecasted to Post Q3 2024 Earnings of $2.15 Per Share

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities researchers at Wedbush cut their Q3 2024 earnings estimates for Cullen/Frost Bankers in a report released on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the bank will earn $2.15 per share for the quarter, down from their previous forecast of $2.18. Wedbush has a “Neutral” rating and a $115.00 price objective on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.47 per share. Wedbush also issued estimates for Cullen/Frost Bankers’ Q4 2024 earnings at $2.25 EPS, Q2 2025 earnings at $2.04 EPS, Q3 2025 earnings at $2.13 EPS, Q4 2025 earnings at $2.22 EPS and FY2025 earnings at $8.45 EPS.

A number of other brokerages also recently weighed in on CFR. Morgan Stanley raised their target price on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods decreased their target price on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $118.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, January 26th. Citigroup started coverage on shares of Cullen/Frost Bankers in a research report on Friday, December 1st. They set a “sell” rating and a $94.00 price target for the company. Finally, Compass Point downgraded shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $113.77.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $111.27 on Thursday. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $120.31. The company has a 50 day simple moving average of $107.04 and a two-hundred day simple moving average of $101.01. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 0.63.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $2.18 EPS for the quarter, topping the consensus estimate of $2.01 by $0.17. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. The business had revenue of $523.66 million during the quarter, compared to analyst estimates of $498.09 million.

Institutional Trading of Cullen/Frost Bankers

Several institutional investors and hedge funds have recently bought and sold shares of CFR. Thrivent Financial for Lutherans boosted its stake in shares of Cullen/Frost Bankers by 0.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 14,966 shares of the bank’s stock worth $1,743,000 after purchasing an additional 76 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Cullen/Frost Bankers by 26.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 366 shares of the bank’s stock valued at $49,000 after acquiring an additional 77 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Cullen/Frost Bankers by 4.2% during the second quarter. O Shaughnessy Asset Management LLC now owns 2,837 shares of the bank’s stock valued at $305,000 after purchasing an additional 115 shares in the last quarter. First National Bank of Hutchinson raised its position in Cullen/Frost Bankers by 1.7% in the third quarter. First National Bank of Hutchinson now owns 7,432 shares of the bank’s stock worth $678,000 after acquiring an additional 121 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Cullen/Frost Bankers by 3.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,910 shares of the bank’s stock worth $523,000 after acquiring an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In related news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the sale, the executive vice president now directly owns 27,815 shares in the company, valued at $2,934,204.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the transaction, the insider now owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.31%. Cullen/Frost Bankers’s payout ratio is currently 40.44%.

About Cullen/Frost Bankers

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.