Cullen/Frost Bankers, Inc. (NYSE:CFR) to Post FY2024 Earnings of $8.58 Per Share, DA Davidson Forecasts

Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) - Investment analysts at DA Davidson lifted their FY2024 earnings per share estimates for Cullen/Frost Bankers in a research report issued on Monday, April 29th. DA Davidson analyst P. Winter now expects that the bank will post earnings per share of $8.58 for the year, up from their prior estimate of $8.42. 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 $8.42 per share.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued 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 return on equity of 18.31% and a net margin of 20.57%. During the same quarter last year, the business earned $2.70 EPS.

A number of other research firms have also weighed in on CFR. Truist Financial decreased their price target on Cullen/Frost Bankers from $121.00 to $115.00 and set a "hold" rating for the company in a research report on Monday. Morgan Stanley increased their price target on Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods decreased their price target on Cullen/Frost Bankers from $125.00 to $118.00 and set a "market perform" rating for the company in a research report 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 report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. increased their price target 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 issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Cullen/Frost Bankers has a consensus rating of "Hold" and an average price target of $117.46.

Cullen/Frost Bankers Price Performance

CFR stock traded up $1.01 during trading hours on Wednesday, hitting $105.35. 461,630 shares of the stock traded hands, compared to its average volume of 424,844. The stock has a 50-day simple moving average of $108.99 and a 200 day simple moving average of $104.19. Cullen/Frost Bankers has a one year low of $82.25 and a one year high of $120.31. The company has a market cap of $6.77 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.32 and a beta of 1.03. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 3.49%. The ex-dividend date is Friday, May 31st. Cullen/Frost Bankers's dividend payout ratio is currently 43.50%.

Insider Buying and Selling

In other news, EVP Bobby Berman sold 1,312 shares of the firm's stock in a transaction dated Thursday, March 14th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paul Bracher sold 9,820 shares of the firm'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 completion of the sale, the insider now directly owns 96,380 shares of the company's stock, valued at approximately $10,543,972. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $138,402.88. Following the completion of the transaction, the executive vice president now directly owns 27,815 shares in the company, valued at $2,934,204.35. The disclosure for this sale can be found here. Company insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at approximately $27,000. ICA Group Wealth Management LLC acquired a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth approximately $33,000. Arvest Investments Inc. acquired a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth approximately $35,000. CWM LLC grew its holdings in shares of Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank's stock worth $38,000 after purchasing an additional 106 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth approximately $43,000. 86.90% of the stock is 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.