Cullen/Frost Bankers, Inc. to Post Q2 2024 Earnings of $2.16 Per Share, DA Davidson Forecasts (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Analysts at DA Davidson issued their Q2 2024 earnings estimates for Cullen/Frost Bankers in a research note issued on Monday, April 29th. DA Davidson analyst P. Winter anticipates that the bank will post earnings per share of $2.16 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 $8.46 per share. DA Davidson also issued estimates for Cullen/Frost Bankers’ FY2025 earnings at $8.68 EPS.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same period last year, the company posted $2.70 EPS.

Several other research analysts also recently commented on CFR. UBS Group boosted their target price on Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Stephens boosted their target price on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $118.00 price target on shares of Cullen/Frost Bankers in a research note on Tuesday, April 9th. Evercore ISI boosted 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. Finally, JPMorgan Chase & Co. increased their target price on Cullen/Frost Bankers from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $117.46.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $105.38 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 1-year low of $82.25 and a 1-year high of $120.31. The stock has a market cap of $6.77 billion, a P/E ratio of 12.46, a PEG ratio of 1.33 and a beta of 1.04. The stock has a 50 day simple moving average of $109.11 and a 200 day simple moving average of $104.08.

Institutional Trading of Cullen/Frost Bankers

Several hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in Cullen/Frost Bankers during the 4th quarter worth approximately $72,627,000. Goldman Sachs Group Inc. lifted its stake in Cullen/Frost Bankers by 44.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after acquiring an additional 244,197 shares in the last quarter. Polaris Capital Management LLC boosted its holdings in 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 acquiring an additional 168,000 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in 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 acquiring an additional 146,963 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Cullen/Frost Bankers by 20.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 787,599 shares of the bank’s stock valued at $85,451,000 after purchasing an additional 131,726 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Transactions at Cullen/Frost Bankers

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

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 issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, May 31st. Cullen/Frost Bankers’s payout ratio is 43.50%.

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.