DA Davidson Has Optimistic Outlook of CFR FY2024 Earnings

Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) - DA Davidson raised their FY2024 earnings per share estimates for Cullen/Frost Bankers in a report issued on Monday, November 4th. DA Davidson analyst P. Winter now anticipates that the bank will earn $8.78 per share for the year, up from their previous forecast of $8.73. DA Davidson currently has a "Buy" rating and a $134.00 price objective on the stock. The consensus estimate for Cullen/Frost Bankers' current full-year earnings is $8.61 per share. DA Davidson also issued estimates for Cullen/Frost Bankers' Q4 2024 earnings at $2.16 EPS and FY2025 earnings at $9.02 EPS.

CFR has been the topic of a number of other research reports. Morgan Stanley lowered their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada lifted their price target on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a "sector perform" rating in a research report on Friday. Evercore ISI cut their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating for the company in a report on Wednesday, October 2nd. Maxim Group lifted their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a "buy" rating in a research report on Friday. Finally, Compass Point increased their price target on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a "neutral" rating in a report on Tuesday. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of "Hold" and a consensus target price of $123.86.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock traded up $2.73 during midday trading on Tuesday, reaching $127.64. 454,184 shares of the stock were exchanged, compared to its average volume of 452,056. Cullen/Frost Bankers has a 52 week low of $91.24 and a 52 week high of $135.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $8.17 billion, a PE ratio of 15.70, a PEG ratio of 1.54 and a beta of 0.98. The company's fifty day moving average is $115.88 and its 200-day moving average is $109.13.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same quarter in the previous year, the firm earned $2.38 EPS. The company's quarterly revenue was up 5.4% compared to the same quarter last year.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in Cullen/Frost Bankers by 40.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank's stock valued at $155,000 after acquiring an additional 395 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Cullen/Frost Bankers by 35.2% during the first quarter. Janney Montgomery Scott LLC now owns 16,573 shares of the bank's stock valued at $1,866,000 after buying an additional 4,317 shares during the period. Capstone Investment Advisors LLC raised its stake in Cullen/Frost Bankers by 68.8% in the first quarter. Capstone Investment Advisors LLC now owns 3,993 shares of the bank's stock worth $449,000 after buying an additional 1,628 shares in the last quarter. Whittier Trust Co. lifted its holdings in Cullen/Frost Bankers by 90.7% in the first quarter. Whittier Trust Co. now owns 391 shares of the bank's stock worth $44,000 after buying an additional 186 shares during the period. Finally, Avidian Wealth Solutions LLC bought a new stake in Cullen/Frost Bankers during the 1st quarter valued at approximately $254,000. 86.90% of the stock is currently owned by institutional investors.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the firm's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by company insiders.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers's payout ratio is 47.15%.

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.