Wedbush Brokers Increase Earnings Estimates for CFR

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Analysts at Wedbush boosted their FY2024 earnings estimates for shares of Cullen/Frost Bankers in a research report issued on Friday, November 1st. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings per share of $8.80 for the year, up from their prior estimate of $8.55. Wedbush has a “Neutral” rating and a $123.00 price target on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.61 per share. Wedbush also issued estimates for Cullen/Frost Bankers’ Q4 2024 earnings at $2.19 EPS, Q4 2025 earnings at $2.13 EPS, FY2025 earnings at $8.20 EPS, Q1 2026 earnings at $1.92 EPS, Q2 2026 earnings at $2.04 EPS and Q3 2026 earnings at $2.15 EPS.

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

A number of other analysts have also issued reports on CFR. Maxim Group lifted their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Citigroup lifted their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research note on Monday. Morgan Stanley reduced their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. DA Davidson boosted 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. Finally, Truist Financial dropped their price objective on shares of 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. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.86.

Cullen/Frost Bankers Trading Up 2.2 %

CFR stock opened at $127.64 on Monday. The business’s 50-day moving average is $116.22 and its 200 day moving average is $109.24. Cullen/Frost Bankers has a 12-month low of $91.24 and a 12-month high of $135.00. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.54 and a beta of 0.98. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers Announces Dividend

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

Insider Activity

In other news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the transaction, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in shares of Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after buying an additional 141 shares during the last quarter. Asset Dedication LLC lifted its position in Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after acquiring an additional 105 shares during the period. Whittier Trust Co. grew its stake in shares of Cullen/Frost Bankers by 90.7% in the 1st 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 last quarter. Allworth Financial LP increased its holdings in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Cullen/Frost Bankers during the third quarter worth approximately $52,000. Hedge funds and other 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.