Q3 2024 EPS Estimates for Cullen/Frost Bankers, Inc. (NYSE:CFR) Boosted by DA Davidson

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities research analysts at DA Davidson lifted their Q3 2024 earnings estimates for shares of Cullen/Frost Bankers in a report released on Thursday, October 3rd. DA Davidson analyst P. Winter now anticipates that the bank will post earnings per share of $2.21 for the quarter, up from their prior estimate of $2.19. DA Davidson currently has a “Buy” rating and a $134.00 target price on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.64 per share. DA Davidson also issued estimates for Cullen/Frost Bankers’ FY2024 earnings at $8.73 EPS and FY2025 earnings at $8.83 EPS.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The company had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. During the same quarter last year, the business posted $2.47 EPS.

A number of other research firms have also weighed in on CFR. Morgan Stanley reduced their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. decreased their price objective on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Citigroup cut their target price on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a report on Monday. Jefferies Financial Group decreased their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Finally, Truist Financial cut their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $121.14.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $108.95 on Friday. The stock’s 50-day moving average is $110.30 and its 200-day moving average is $107.06. Cullen/Frost Bankers has a 1-year low of $82.25 and a 1-year high of $123.17. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The stock has a market cap of $6.97 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.32 and a beta of 1.00.

Hedge Funds Weigh In On Cullen/Frost Bankers

Large investors have recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares during the last quarter. Whittier Trust Co. raised its position in Cullen/Frost Bankers by 90.7% in the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after buying an additional 186 shares during the last quarter. Parallel Advisors LLC lifted its stake in Cullen/Frost Bankers by 89.7% during the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after acquiring an additional 218 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in Cullen/Frost Bankers during the 2nd quarter worth $54,000. Finally, GAMMA Investing LLC grew its stake in shares of Cullen/Frost Bankers by 40.7% in the 1st quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock worth $65,000 after acquiring an additional 166 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Insider Activity

In other news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now directly owns 1,598 shares in the company, valued at approximately $190,481.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares in the company, valued at $2,243,796.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now owns 1,598 shares of the company’s stock, valued at $190,481.60. The disclosure for this sale can be found here. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.95 dividend. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Friday, August 30th. Cullen/Frost Bankers’s payout ratio is 44.92%.

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.