FY2024 Earnings Estimate for Cullen/Frost Bankers, Inc. (NYSE:CFR) Issued By DA Davidson

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities research analysts at DA Davidson lifted their FY2024 EPS estimates for shares of Cullen/Frost Bankers in a research note issued on Monday, April 29th. DA Davidson analyst P. Winter now anticipates that the bank will earn $8.58 per share for the year, up from their previous forecast of $8.42. DA Davidson has a “Buy” rating and a $126.00 price target on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.42 per share.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share 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 quarter in the prior year, the business posted $2.70 EPS.

Several other research firms have also recently commented on CFR. Royal Bank of Canada reiterated a “sector perform” rating and set a $118.00 price target on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. Truist Financial dropped their target price on Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating on the stock in a report on Monday. JPMorgan Chase & Co. raised their price target on Cullen/Frost Bankers from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. UBS Group upped their price objective on Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $117.46.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $105.35 on Wednesday. The business has a 50-day simple moving average of $108.99 and a 200-day simple moving average of $104.19. The company has a market cap of $6.77 billion, a PE ratio of 12.45, a P/E/G ratio of 1.32 and a beta of 1.03. Cullen/Frost Bankers has a one year low of $82.25 and a one year high of $120.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65.

Hedge Funds Weigh In On Cullen/Frost Bankers

Institutional investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after acquiring an additional 106 shares in the last quarter. First National Bank of Hutchinson boosted its holdings in Cullen/Frost Bankers by 1.7% in the 3rd quarter. First National Bank of Hutchinson now owns 7,432 shares of the bank’s stock valued at $678,000 after purchasing an additional 121 shares in the last quarter. Commerce Bank raised its stake in shares of Cullen/Frost Bankers by 1.0% during the 4th quarter. Commerce Bank now owns 13,047 shares of the bank’s stock worth $1,415,000 after buying an additional 128 shares in the last quarter. Treasurer of the State of North Carolina raised its position in Cullen/Frost Bankers by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 25,995 shares of the bank’s stock worth $2,371,000 after acquiring an additional 130 shares in the last quarter. Finally, Cardinal Capital Management increased its holdings in shares of Cullen/Frost Bankers by 1.3% in the 4th quarter. Cardinal Capital Management now owns 10,459 shares of the bank’s stock valued at $1,135,000 after purchasing an additional 130 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the sale, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 96,380 shares of the company’s stock, valued at $10,543,972. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Bobby Berman sold 1,312 shares of the stock in a transaction on 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 $2,934,204.35. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.92 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.49%. 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.