Cullen/Frost Bankers, Inc. (NYSE:CFR) to Post Q2 2024 Earnings of $2.03 Per Share, Wedbush Forecasts

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Research analysts at Wedbush cut their Q2 2024 earnings estimates for Cullen/Frost Bankers in a note issued to investors on Thursday, April 25th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings of $2.03 per share for the quarter, down from their prior estimate of $2.07. Wedbush currently has a “Neutral” rating and a $115.00 price objective on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.46 per share. Wedbush also issued estimates for Cullen/Frost Bankers’ Q3 2024 earnings at $2.10 EPS, Q4 2024 earnings at $2.22 EPS, FY2024 earnings at $8.50 EPS and Q1 2025 earnings at $2.02 EPS.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group raised their target price on Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Compass Point cut shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 target price on shares of Cullen/Frost Bankers in a research note on Tuesday, April 9th. DA Davidson reaffirmed a “buy” rating and set a $126.00 price target on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Finally, Stephens lifted their price objective on Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Three 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $117.92.

Cullen/Frost Bankers Trading Down 3.3 %

CFR opened at $107.08 on Monday. The firm has a 50 day simple moving average of $109.17 and a 200 day simple moving average of $103.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.63 and a quick ratio of 0.63. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $120.31. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, beating the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.69% and a net margin of 26.26%. During the same period in the previous year, the company posted $2.70 earnings per share.

Cullen/Frost Bankers Announces Dividend

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 given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 annualized dividend and a yield of 3.44%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.50%.

Insider Transactions at Cullen/Frost Bankers

In related news, insider Paul Bracher sold 9,820 shares of the company’s 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 sale, the insider now owns 96,380 shares in the company, valued at $10,543,972. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were 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 legal filing with the SEC, which can be accessed through the SEC website. Also, 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 directly owns 96,380 shares in the company, valued at approximately $10,543,972. The disclosure for this sale can be found here. Company insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. WCM Investment Management LLC grew its position in shares of Cullen/Frost Bankers by 6.9% in the first quarter. WCM Investment Management LLC now owns 2,581 shares of the bank’s stock valued at $291,000 after purchasing an additional 167 shares during the last quarter. Keene & Associates Inc. grew its stake in shares of Cullen/Frost Bankers by 5.6% in the first quarter. Keene & Associates Inc. now owns 6,156 shares of the bank’s stock valued at $693,000 after acquiring an additional 327 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Cullen/Frost Bankers by 2.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the bank’s stock worth $2,083,000 after purchasing an additional 500 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Cullen/Frost Bankers by 22.5% during the 1st quarter. Fifth Third Bancorp now owns 49,516 shares of the bank’s stock worth $5,574,000 after purchasing an additional 9,081 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Cullen/Frost Bankers by 172.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,413 shares of the bank’s stock worth $3,198,000 after purchasing an additional 17,993 shares during the period. 86.90% of the stock is currently owned by institutional investors.

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.