Q3 2024 EPS Estimates for Cullen/Frost Bankers, Inc. Raised by DA Davidson (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities research analysts at DA Davidson boosted their Q3 2024 earnings estimates for shares of Cullen/Frost Bankers in a research note issued on Thursday, October 3rd. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $2.21 for the quarter, up from their prior forecast of $2.19. DA Davidson has a “Buy” rating and a $134.00 price objective 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 equities research analysts have also weighed in on CFR. Stephens lifted their target price on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Truist Financial cut their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Morgan Stanley cut their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research note on Monday, September 30th. Maxim Group lifted their target price on shares of 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, Wedbush cut their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $121.14.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock opened at $113.32 on Friday. The firm has a market cap of $7.28 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.32 and a beta of 1.00. Cullen/Frost Bankers has a 12-month low of $82.25 and a 12-month high of $123.17. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $110.17 and its two-hundred day simple moving average is $107.12.

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

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.95 dividend. The ex-dividend date was Friday, August 30th. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 3.35%. Cullen/Frost Bankers’s payout ratio is 44.92%.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new position in shares of Cullen/Frost Bankers during the second quarter valued at approximately $2,199,000. Point72 Asset Management L.P. purchased a new stake in Cullen/Frost Bankers during the second quarter valued at approximately $13,574,000. Northwestern Mutual Wealth Management Co. increased its holdings in Cullen/Frost Bankers by 2.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank’s stock valued at $600,000 after buying an additional 156 shares during the last quarter. Creative Planning increased its holdings in Cullen/Frost Bankers by 7.4% during the second quarter. Creative Planning now owns 8,449 shares of the bank’s stock valued at $859,000 after buying an additional 585 shares during the last quarter. Finally, Algert Global LLC increased its holdings in Cullen/Frost Bankers by 19.7% during the second quarter. Algert Global LLC now owns 37,301 shares of the bank’s stock valued at $3,791,000 after buying an additional 6,143 shares during the last quarter. 86.90% of the stock is 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.