Brokers Set Expectations for Cullen/Frost Bankers, Inc.’s Q2 2024 Earnings (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Cullen/Frost Bankers in a note issued to investors on Monday, April 29th. DA Davidson analyst P. Winter expects that the bank will earn $2.16 per share for the quarter. DA Davidson has a “Buy” rating and a $126.00 price objective on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.42 per share. DA Davidson also issued estimates for Cullen/Frost Bankers’ FY2025 earnings at $8.68 EPS.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. During the same period in the previous year, the business earned $2.70 earnings per share.

CFR has been the subject of a number of other research reports. Compass Point cut Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Stephens raised their price target on Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Evercore ISI lifted their price objective on Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an “underperform” rating in a research report on Thursday, March 28th. Morgan Stanley lifted their price objective on Cullen/Frost Bankers from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $117.46.

Cullen/Frost Bankers Trading Up 1.0 %

Shares of CFR stock opened at $105.35 on Tuesday. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $120.31. The stock has a market cap of $6.77 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.32 and a beta of 1.03. The business has a fifty day simple moving average of $108.99 and a 200-day simple moving average of $104.19. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06.

Institutional Trading of Cullen/Frost Bankers

A number of institutional investors have recently modified their holdings of CFR. Norges Bank purchased a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth about $72,627,000. Goldman Sachs Group Inc. grew its holdings in shares of Cullen/Frost Bankers by 44.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after purchasing an additional 244,197 shares during the period. Polaris Capital Management LLC grew its holdings in shares of Cullen/Frost Bankers by 87.9% during the 4th quarter. Polaris Capital Management LLC now owns 359,100 shares of the bank’s stock worth $38,959,000 after purchasing an additional 168,000 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in shares of Cullen/Frost Bankers by 2,414.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 153,051 shares of the bank’s stock worth $16,605,000 after purchasing an additional 146,963 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Cullen/Frost Bankers by 20.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 787,599 shares of the bank’s stock worth $85,451,000 after acquiring an additional 131,726 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the sale, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Friday, May 31st. Cullen/Frost Bankers’s payout ratio is 43.50%.

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.