Brokers Offer Predictions for Cullen/Frost Bankers, Inc.’s Q3 2024 Earnings (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Stock analysts at DA Davidson boosted their Q3 2024 earnings per share (EPS) estimates for Cullen/Frost Bankers in a research note issued to investors on Thursday, October 3rd. DA Davidson analyst P. Winter now anticipates that the bank will post earnings per share of $2.21 for the quarter, up from their prior estimate of $2.19. DA Davidson has a “Buy” rating and a $134.00 price target on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.64 per share. DA Davidson also issued estimates for Cullen/Frost Bankers’ FY2024 earnings at $8.73 EPS and FY2025 earnings at $8.83 EPS.

A number of other research firms have also recently commented on CFR. Wedbush lowered their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Jefferies Financial Group lowered their target price on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial cut their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Maxim Group boosted their price objective on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target of $121.14.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $108.95 on Friday. Cullen/Frost Bankers has a 52 week low of $82.25 and a 52 week high of $123.17. The firm’s 50-day simple moving average is $110.30 and its two-hundred day simple moving average is $107.06. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.32 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. The company had revenue of $528.81 million for the quarter, compared to analysts’ expectations of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same period in the previous year, the business posted $2.47 EPS.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.95 per share. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Friday, August 30th. Cullen/Frost Bankers’s payout ratio is 44.92%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the sale, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the transaction, the executive vice president now owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the sale, the executive vice president now directly owns 1,598 shares in the company, valued at $190,481.60. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of institutional investors have recently made changes to their positions in CFR. Sanctuary Advisors LLC bought a new position in Cullen/Frost Bankers in the second quarter valued at $2,199,000. Point72 Asset Management L.P. purchased a new position in shares of Cullen/Frost Bankers in the 2nd quarter worth about $13,574,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Cullen/Frost Bankers by 2.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank’s stock valued at $600,000 after purchasing an additional 156 shares during the last quarter. Creative Planning raised its holdings in shares of Cullen/Frost Bankers by 7.4% during the 2nd quarter. Creative Planning now owns 8,449 shares of the bank’s stock valued at $859,000 after buying an additional 585 shares in the last quarter. Finally, Algert Global LLC lifted its position in Cullen/Frost Bankers by 19.7% in the 2nd quarter. Algert Global LLC now owns 37,301 shares of the bank’s stock worth $3,791,000 after buying an additional 6,143 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

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.