Brokers Offer Predictions for Cullen/Frost Bankers, Inc.’s Q2 2024 Earnings (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Investment analysts at DA Davidson lowered their Q2 2024 EPS estimates for shares of Cullen/Frost Bankers in a research note issued on Thursday, June 27th. DA Davidson analyst P. Winter now expects that the bank will post earnings of $2.11 per share for the quarter, down from their prior forecast of $2.16. DA Davidson currently has a “Buy” rating and a $126.00 target price on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.40 per share.

Other research analysts also recently issued research reports about the stock. Evercore ISI dropped their target price on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group upped their target price on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a “hold” rating in a report on Monday, April 8th. JPMorgan Chase & Co. dropped their target price on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com raised shares of Cullen/Frost Bankers to a “sell” rating in a report on Saturday, May 4th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a report on Friday, April 26th. Three investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $115.69.

Cullen/Frost Bankers Trading Up 2.3 %

Shares of Cullen/Frost Bankers stock opened at $101.63 on Monday. The company has a market capitalization of $6.53 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The company has a fifty day moving average of $103.05 and a 200 day moving average of $105.99. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $120.31.

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

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Thursday, May 30th. Cullen/Frost Bankers’s dividend payout ratio is 43.50%.

Institutional Trading of Cullen/Frost Bankers

Hedge funds have recently made changes to their positions in the business. ICA Group Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the 4th quarter valued at about $33,000. Arvest Investments Inc. purchased a new stake in shares of Cullen/Frost Bankers during the 4th quarter valued at about $35,000. CWM LLC raised its position in Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares during the period. GAMMA Investing LLC purchased a new stake in Cullen/Frost Bankers in the 4th quarter worth about $43,000. Finally, 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 worth $44,000 after purchasing an additional 186 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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.