Research Analysts Issue Forecasts for Cullen/Frost Bankers, Inc.'s FY2024 Earnings (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) - Analysts at DA Davidson lowered their FY2024 earnings estimates for Cullen/Frost Bankers in a research report issued to clients and investors on Monday, April 1st. DA Davidson analyst P. Winter now expects that the bank will earn $8.42 per share for the year, down from their previous forecast of $8.63. 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 $8.45 per share.

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

A number of other equities analysts have also weighed in on CFR. Morgan Stanley upped their target price on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 7th. Compass Point downgraded shares of Cullen/Frost Bankers from a "buy" rating to a "neutral" rating in a research note on Monday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday. Stephens raised their target price on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an "equal weight" rating in a research note on Friday, January 26th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $118.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Cullen/Frost Bankers currently has an average rating of "Hold" and an average price target of $116.15.

Cullen/Frost Bankers Trading Up 0.3 %

CFR traded up $0.29 during trading on Thursday, reaching $110.05. 286,077 shares of the company's stock were exchanged, compared to its average volume of 419,006. The company's fifty day moving average price is $107.51 and its 200-day moving average price is $101.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current 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 firm has a market capitalization of $7.07 billion, a PE ratio of 12.09, a P/E/G ratio of 1.37 and a beta of 1.03.

Institutional Trading of Cullen/Frost Bankers

A number of hedge funds have recently added to or reduced their stakes in CFR. Lazard Asset Management LLC acquired a new position in shares of Cullen/Frost Bankers during the fourth quarter worth $26,000. Macquarie Group Ltd. acquired a new position in shares of Cullen/Frost Bankers during the first quarter worth $25,000. ICA Group Wealth Management LLC acquired a new position in shares of Cullen/Frost Bankers during the fourth quarter worth $36,000. NBC Securities Inc. acquired a new position in shares of Cullen/Frost Bankers during the third quarter worth $27,000. Finally, Covestor Ltd lifted its holdings in shares of Cullen/Frost Bankers by 80.7% during the first quarter. Covestor Ltd now owns 309 shares of the bank's stock worth $43,000 after purchasing an additional 138 shares during the period. 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 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the sale, the insider now owns 96,380 shares in the company, valued at $10,543,972. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bobby Berman sold 1,312 shares of the firm's 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 owns 27,815 shares in the company, valued at approximately $2,934,204.35. The disclosure for this sale can be found here. Insiders own 2.89% of the company's stock.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.68 annualized dividend and a dividend yield of 3.34%. 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.