Zacks Research Has Bullish Outlook for CFR FY2024 Earnings

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Investment analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Cullen/Frost Bankers in a research report issued to clients and investors on Tuesday, January 21st. Zacks Research analyst R. Department now expects that the bank will post earnings per share of $8.71 for the year, up from their previous estimate 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.

Several other equities analysts also recently commented on CFR. Citigroup increased 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. Royal Bank of Canada raised their price objective on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Compass Point boosted their target price on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Stephens raised their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus price target of $127.07.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $140.30 on Thursday. The stock has a market cap of $9.00 billion, a PE ratio of 17.41, a PEG ratio of 1.77 and a beta of 1.00. Cullen/Frost Bankers has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. 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 firm’s fifty day moving average price is $137.78 and its two-hundred day moving average price is $123.05.

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 firm had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.38 earnings per share.

Institutional Investors Weigh In On Cullen/Frost Bankers

Institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV boosted its holdings in Cullen/Frost Bankers by 17.2% during the 4th quarter. KBC Group NV now owns 4,987 shares of the bank’s stock worth $670,000 after acquiring an additional 731 shares during the last quarter. Blue Trust Inc. boosted its holdings in Cullen/Frost Bankers by 239.0% during the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock worth $46,000 after purchasing an additional 239 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in Cullen/Frost Bankers in the 4th quarter worth about $322,000. Tributary Capital Management LLC increased its stake in Cullen/Frost Bankers by 45.1% in the 4th quarter. Tributary Capital Management LLC now owns 8,515 shares of the bank’s stock valued at $1,143,000 after buying an additional 2,647 shares during the last quarter. Finally, Impact Partnership Wealth LLC bought a new position in shares of Cullen/Frost Bankers during the 4th quarter worth approximately $625,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the sale, the executive vice president now owns 2,888 shares in the company, valued at approximately $399,525.92. The trade was a 58.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at $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. Insiders have sold a total of 21,864 shares of company stock valued at $2,977,033 over the last ninety days. 2.89% of the stock is owned by corporate insiders.

Cullen/Frost Bankers Dividend Announcement

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

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.