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

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Research analysts at Wedbush decreased their Q3 2024 earnings per share (EPS) estimates for shares of Cullen/Frost Bankers in a research report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $2.15 per share for the quarter, down from their prior forecast of $2.18. Wedbush currently 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 equities analysts have also commented on CFR. Evercore ISI lowered shares of Cullen/Frost Bankers from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $98.00 to $111.00 in a report on Wednesday, January 3rd. Citigroup initiated coverage on Cullen/Frost Bankers in a research note on Friday, December 1st. They set a “sell” rating and a $94.00 target price for the company. Keefe, Bruyette & Woods reduced their price objective on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. UBS Group increased their price target on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $118.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $113.77.

Cullen/Frost Bankers Stock Up 4.1 %

Shares of Cullen/Frost Bankers stock opened at $111.27 on Thursday. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $120.31. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average price of $107.04 and a 200 day moving average price of $101.01.

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

Cullen/Frost Bankers Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Bobby Berman sold 1,312 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the sale, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction on 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 owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Bracher sold 9,820 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at approximately $10,543,972. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new position in shares of Cullen/Frost Bankers in the fourth quarter worth about $26,000. Macquarie Group Ltd. bought a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth approximately $25,000. ICA Group Wealth Management LLC bought a new position in shares of Cullen/Frost Bankers in the 4th quarter valued at about $36,000. NBC Securities Inc. acquired a new position in Cullen/Frost Bankers during the third quarter worth approximately $27,000. Finally, Covestor Ltd raised its stake in Cullen/Frost Bankers by 80.7% in the first quarter. Covestor Ltd now owns 309 shares of the bank’s stock valued at $43,000 after buying an additional 138 shares during the period. Institutional investors own 86.90% 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.