DA Davidson Analysts Cut Earnings Estimates for Cullen/Frost Bankers, Inc. (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) - Analysts at DA Davidson reduced their Q1 2024 earnings estimates for Cullen/Frost Bankers in a research note issued to investors on Monday, April 1st. DA Davidson analyst P. Winter now forecasts that the bank will post earnings of $2.13 per share for the quarter, down from their previous estimate of $2.21. DA Davidson currently has a "Buy" rating and a $126.00 target price on the stock. The consensus estimate for Cullen/Frost Bankers' current full-year earnings is $8.45 per share. DA Davidson also issued estimates for Cullen/Frost Bankers' FY2025 earnings at $8.53 EPS.

A number of other brokerages have also weighed in on CFR. Compass Point lowered shares of Cullen/Frost Bankers from a "buy" rating to a "neutral" rating in a report on Monday, January 8th. Wedbush reissued a "neutral" rating and set a $115.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, January 26th. UBS Group boosted their price objective on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a "neutral" rating in a report on Monday, January 29th. Evercore ISI boosted their price objective on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the company an "underperform" rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $118.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Cullen/Frost Bankers has an average rating of "Hold" and an average target price of $115.77.

Cullen/Frost Bankers Stock Down 0.4 %

NYSE CFR traded down $0.47 on Wednesday, hitting $109.74. The stock had a trading volume of 247,388 shares, compared to its average volume of 421,084. The business's fifty day moving average price is $107.49 and its 200 day moving average price is $101.57. 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 52-week low of $82.25 and a 52-week high of $120.31. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.40 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.17. The company had revenue of $523.66 million for the quarter, compared to analyst estimates of $498.09 million. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%.

Institutional Trading of Cullen/Frost Bankers

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Cullen/Frost Bankers by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank's stock worth $695,729,000 after acquiring an additional 19,755 shares during the last quarter. BlackRock Inc. grew its stake in shares of Cullen/Frost Bankers by 1.7% in the first quarter. BlackRock Inc. now owns 5,818,308 shares of the bank's stock worth $612,901,000 after acquiring an additional 97,073 shares in the last quarter. State Street Corp increased its position in shares of Cullen/Frost Bankers by 20.7% during the second quarter. State Street Corp now owns 5,409,625 shares of the bank's stock worth $581,697,000 after acquiring an additional 928,420 shares during the period. Capital Research Global Investors raised its stake in shares of Cullen/Frost Bankers by 39.1% in the first quarter. Capital Research Global Investors now owns 2,408,656 shares of the bank's stock valued at $333,382,000 after acquiring an additional 676,467 shares in the last quarter. Finally, FMR LLC boosted its holdings in Cullen/Frost Bankers by 6.3% in the third quarter. FMR LLC now owns 1,476,411 shares of the bank's stock valued at $134,663,000 after purchasing an additional 88,042 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Activity at Cullen/Frost Bankers

In related 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 transaction of $138,402.88. Following the completion of the sale, the executive vice president now 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 hyperlink. In related news, insider Paul Bracher sold 9,820 shares of the company's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the sale, the insider now owns 96,380 shares of the company's stock, valued at approximately $10,543,972. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bobby Berman sold 1,312 shares of the stock in a transaction that occurred 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 directly owns 27,815 shares of the company's stock, valued at approximately $2,934,204.35. 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 disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.68 annualized dividend and a yield of 3.35%. Cullen/Frost Bankers's dividend payout ratio is presently 40.44%.

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.