Zacks Research Issues Optimistic Estimate for CFR Earnings

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Zacks Research boosted their FY2024 earnings per share estimates for Cullen/Frost Bankers in a report issued on Tuesday, January 21st. Zacks Research analyst R. Department now expects that the bank will post earnings of $8.71 per share for the year, up from their prior forecast of $8.64. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.75 per share. Zacks Research also issued estimates for Cullen/Frost Bankers’ Q4 2024 earnings at $2.11 EPS, Q1 2025 earnings at $1.97 EPS, Q2 2025 earnings at $2.02 EPS, Q3 2025 earnings at $2.14 EPS, Q4 2025 earnings at $1.78 EPS and FY2025 earnings at $7.90 EPS.

A number of other analysts also recently issued reports on CFR. Citigroup lifted their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Stephens lifted their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Compass Point lifted their target price on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI lowered their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Maxim Group boosted their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $127.07.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $140.33 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s 50-day simple moving average is $137.78 and its 200 day simple moving average is $123.05. The company has a market cap of $9.00 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.77 and a beta of 1.00. Cullen/Frost Bankers has a 52-week low of $94.09 and a 52-week high of $147.64.

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

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Friday, November 29th. Cullen/Frost Bankers’s payout ratio is 47.15%.

Insider Activity

In other news, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the transaction, the executive vice president now owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,864 shares of company stock valued at $2,977,033. 2.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Cullen/Frost Bankers

Institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC boosted its stake in shares of Cullen/Frost Bankers by 30.3% in the third quarter. Tidal Investments LLC now owns 18,689 shares of the bank’s stock valued at $2,091,000 after buying an additional 4,348 shares during the period. Pathstone Holdings LLC boosted its stake in shares of Cullen/Frost Bankers by 45.0% in the third quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank’s stock valued at $2,156,000 after buying an additional 5,981 shares during the period. Barclays PLC boosted its stake in shares of Cullen/Frost Bankers by 234.5% in the third quarter. Barclays PLC now owns 436,393 shares of the bank’s stock valued at $48,814,000 after buying an additional 305,921 shares during the period. Raymond James & Associates boosted its stake in shares of Cullen/Frost Bankers by 10.0% in the third quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock valued at $13,361,000 after buying an additional 10,884 shares during the period. Finally, Hancock Whitney Corp bought a new stake in shares of Cullen/Frost Bankers in the third quarter valued at approximately $784,000. 86.90% of the stock is currently owned by 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.