Q3 2024 EPS Estimates for Cullen/Frost Bankers, Inc. (NYSE:CFR) Reduced by Zacks Research

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Stock analysts at Zacks Research decreased their Q3 2024 earnings estimates for shares of Cullen/Frost Bankers in a research report issued to clients and investors on Thursday, June 20th. Zacks Research analyst R. Department now anticipates that the bank will earn $2.07 per share for the quarter, down from their previous estimate of $2.09. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.43 per share. Zacks Research also issued estimates for Cullen/Frost Bankers’ Q1 2025 earnings at $2.02 EPS and FY2026 earnings at $8.95 EPS.

CFR has been the subject of a number of other research reports. StockNews.com upgraded shares of Cullen/Frost Bankers to a “sell” rating in a research report on Saturday, May 4th. Truist Financial cut their target price on Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. JPMorgan Chase & Co. lifted their target price on Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, April 26th. Finally, Jefferies Financial Group raised their price objective on Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a “hold” rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $117.46.

Cullen/Frost Bankers Trading Up 1.0 %

Shares of Cullen/Frost Bankers stock opened at $99.38 on Monday. Cullen/Frost Bankers has a 52-week low of $82.25 and a 52-week high of $120.31. The firm has a market capitalization of $6.39 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. The company’s fifty day moving average price is $103.79 and its two-hundred day moving average price is $106.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. The firm had revenue of $522.74 million during the quarter, compared to the consensus estimate of $510.09 million. During the same period in the prior year, the firm earned $2.70 EPS.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.92 dividend. The ex-dividend date was Thursday, May 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.70%. Cullen/Frost Bankers’s payout ratio is currently 43.50%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CFR. Norges Bank bought a new position in Cullen/Frost Bankers during the 4th quarter worth approximately $72,627,000. Champlain Investment Partners LLC grew its holdings in Cullen/Frost Bankers by 18.4% during the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after purchasing an additional 495,215 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after purchasing an additional 244,197 shares during the period. Polaris Capital Management LLC lifted its holdings in Cullen/Frost Bankers by 87.9% during the 4th quarter. Polaris Capital Management LLC now owns 359,100 shares of the bank’s stock worth $38,959,000 after purchasing an additional 168,000 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after purchasing an additional 161,580 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.