Equities Analysts Issue Forecasts for CFR FY2024 Earnings

Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) - Analysts at Wedbush raised their FY2024 earnings per share estimates for shares of Cullen/Frost Bankers in a report issued on Friday, November 1st. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $8.80 per share for the year, up from their prior forecast of $8.55. Wedbush has a "Neutral" rating and a $123.00 price objective on the stock. The consensus estimate for Cullen/Frost Bankers' current full-year earnings is $8.57 per share. Wedbush also issued estimates for Cullen/Frost Bankers' Q4 2024 earnings at $2.19 EPS, Q4 2025 earnings at $2.13 EPS, FY2025 earnings at $8.20 EPS, Q1 2026 earnings at $1.92 EPS, Q2 2026 earnings at $2.04 EPS and Q3 2026 earnings at $2.15 EPS.

Several other equities analysts also recently weighed in on the company. Stephens boosted their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an "equal weight" rating in a research report on Friday. Maxim Group boosted their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a "buy" rating in a research report on Friday. Royal Bank of Canada boosted their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a "sector perform" rating in a research report on Friday. Truist Financial dropped their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating for the company in a report on Friday, September 20th. Finally, DA Davidson boosted their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a "buy" rating in a report on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of "Hold" and a consensus price target of $124.00.

Cullen/Frost Bankers Price Performance

NYSE:CFR traded down $1.07 during trading hours on Monday, reaching $124.91. The stock had a trading volume of 553,682 shares, compared to its average volume of 452,046. The stock has a market capitalization of $8.00 billion, a PE ratio of 15.52, a PEG ratio of 1.56 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The company has a 50 day moving average price of $115.61 and a two-hundred day moving average price of $109.02. Cullen/Frost Bankers has a 52 week low of $91.24 and a 52 week high of $135.00.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 16.34% and a net margin of 23.98%. The business had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. During the same quarter in the previous year, the company posted $2.38 EPS. The company's revenue was up 5.4% compared to the same quarter last year.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of hedge funds have recently made changes to their positions in CFR. Tidal Investments LLC raised its stake in Cullen/Frost Bankers by 125.2% in the first quarter. Tidal Investments LLC now owns 11,888 shares of the bank's stock valued at $1,338,000 after buying an additional 6,610 shares during the last quarter. Natixis purchased a new stake in Cullen/Frost Bankers in the first quarter valued at about $957,000. American Century Companies Inc. raised its stake in Cullen/Frost Bankers by 11.9% in the second quarter. American Century Companies Inc. now owns 68,296 shares of the bank's stock valued at $6,941,000 after buying an additional 7,236 shares during the last quarter. Raymond James & Associates raised its stake in Cullen/Frost Bankers by 10.0% in the third quarter. Raymond James & Associates now owns 119,447 shares of the bank's stock valued at $13,361,000 after buying an additional 10,884 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Cullen/Frost Bankers by 15.9% in the first quarter. Sei Investments Co. now owns 377,920 shares of the bank's stock worth $42,543,000 after purchasing an additional 51,808 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Bobby Berman sold 3,506 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the sale, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.89% of the stock is currently owned by company insiders.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 47.15%.

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.