Brokers Offer Predictions for Cullen/Frost Bankers, Inc.'s Q2 2024 Earnings (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) - DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Cullen/Frost Bankers in a note issued to investors on Monday, April 29th. DA Davidson analyst P. Winter forecasts 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.

Several other equities analysts also recently commented on CFR. Stephens increased their price target 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. UBS Group increased their price objective on Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a "neutral" rating in a research report on Monday, January 29th. JPMorgan Chase & Co. increased their price objective 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. Jefferies Financial Group increased their price objective on Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a "hold" rating in a research report on Monday, April 8th. Finally, Truist Financial reduced their price objective on Cullen/Frost Bankers from $121.00 to $115.00 and set a "hold" rating for the company in a research report on Monday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $117.46.

Cullen/Frost Bankers Stock Performance

CFR stock traded down $0.97 during midday trading on Tuesday, hitting $104.32. 504,105 shares of the company traded hands, compared to its average volume of 424,401. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $120.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. The business has a 50 day simple moving average of $109.11 and a 200-day simple moving average of $104.08. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly 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 18.31% and a net margin of 20.57%. During the same quarter in the prior year, the firm earned $2.70 EPS.

Institutional Trading of Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norden Group LLC acquired a new stake in shares of Cullen/Frost Bankers in the first quarter valued at $1,062,000. Allspring Global Investments Holdings LLC increased its position in Cullen/Frost Bankers by 40.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank's stock worth $155,000 after purchasing an additional 395 shares during the period. Commonwealth Equity Services LLC increased its position in Cullen/Frost Bankers by 0.3% in the first quarter. Commonwealth Equity Services LLC now owns 49,766 shares of the bank's stock worth $5,602,000 after purchasing an additional 157 shares during the period. Principal Financial Group Inc. increased its position in Cullen/Frost Bankers by 1.6% in the first quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank's stock worth $92,432,000 after purchasing an additional 12,897 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in Cullen/Frost Bankers by 18.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,007 shares of the bank's stock worth $114,000 after purchasing an additional 155 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly 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 firm's 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 completion of the sale, the executive vice president now directly owns 27,815 shares in the company, valued at $2,934,204.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Bracher sold 9,820 shares of the firm's stock in a transaction 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 completion of the sale, the insider now owns 96,380 shares of the company's stock, valued at $10,543,972. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company's stock.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 annualized dividend and a yield of 3.53%. Cullen/Frost Bankers's dividend payout ratio is currently 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.