Zacks Research Has Bullish Forecast for CFR Q3 Earnings

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Research analysts at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for shares of Cullen/Frost Bankers in a research report issued on Monday, October 28th. Zacks Research analyst R. Department now forecasts that the bank will earn $2.15 per share for the quarter, up from their prior forecast of $2.10. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.59 per share. Zacks Research also issued estimates for Cullen/Frost Bankers’ Q4 2024 earnings at $1.95 EPS, Q1 2025 earnings at $1.94 EPS, Q3 2025 earnings at $2.11 EPS, Q2 2026 earnings at $2.18 EPS and Q3 2026 earnings at $2.18 EPS.

Other research analysts also recently issued research reports about the stock. Citigroup dropped their price objective on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a research note on Monday, September 30th. DA Davidson upped their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Evercore ISI decreased their price target on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Stephens upped their price objective on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Four 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $121.31.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $127.30 on Wednesday. The stock has a fifty day moving average price of $114.96 and a 200 day moving average price of $108.74. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 52 week low of $88.86 and a 52 week high of $135.00. The firm has a market capitalization of $8.18 billion, a P/E ratio of 14.84, a PEG ratio of 1.56 and a beta of 1.00.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several hedge funds have recently modified their holdings of the stock. Asset Dedication LLC raised its stake in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after purchasing an additional 105 shares during the period. Whittier Trust Co. boosted its stake in shares of Cullen/Frost Bankers by 90.7% in the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after purchasing an additional 186 shares during the period. Allworth Financial LP increased its stake in Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after buying an additional 239 shares during the period. Abich Financial Wealth Management LLC acquired a new position in Cullen/Frost Bankers in the 2nd quarter worth $54,000. Finally, North Star Investment Management Corp. acquired a new position in Cullen/Frost Bankers in the 1st quarter worth $69,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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.