Jefferies Financial Group Analysts Lift Earnings Estimates for Cullen/Frost Bankers, Inc. (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFRGet Rating) – Investment analysts at Jefferies Financial Group boosted their Q1 2023 earnings estimates for shares of Cullen/Frost Bankers in a research report issued to clients and investors on Monday, January 9th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will post earnings of $2.24 per share for the quarter, up from their previous forecast of $2.23. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.69 per share. Jefferies Financial Group also issued estimates for Cullen/Frost Bankers’ Q3 2023 earnings at $2.73 EPS, Q4 2023 earnings at $2.68 EPS, FY2023 earnings at $10.05 EPS, Q1 2024 earnings at $2.71 EPS, Q2 2024 earnings at $2.64 EPS, Q3 2024 earnings at $2.62 EPS, Q4 2024 earnings at $2.53 EPS and FY2024 earnings at $10.50 EPS.

Several other research firms have also weighed in on CFR. Stephens upped their target price on shares of Cullen/Frost Bankers from $149.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, October 28th. StockNews.com lowered shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Tuesday. Wedbush reaffirmed a “neutral” rating and issued a $140.00 target price on shares of Cullen/Frost Bankers in a report on Wednesday, September 28th. Wolfe Research downgraded shares of Cullen/Frost Bankers from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, November 2nd. Finally, Royal Bank of Canada upped their price target on shares of Cullen/Frost Bankers from $148.00 to $160.00 and gave the stock a “sector perform” rating in a research report on Friday, October 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $152.38.

Cullen/Frost Bankers Stock Up 0.4 %

CFR opened at $132.20 on Tuesday. The firm’s 50-day simple moving average is $139.92 and its 200-day simple moving average is $135.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.63. Cullen/Frost Bankers has a twelve month low of $112.67 and a twelve month high of $160.60. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.30 and a beta of 1.11.

Cullen/Frost Bankers (NYSE:CFRGet Rating) last posted its earnings results on Thursday, October 27th. The bank reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.40. Cullen/Frost Bankers had a net margin of 30.07% and a return on equity of 14.18%. The business had revenue of $479.34 million for the quarter, compared to analyst estimates of $445.68 million.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were given a $0.87 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.63%. Cullen/Frost Bankers’s dividend payout ratio is 46.71%.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 1,941 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $151.62, for a total value of $294,294.42. Following the sale, the executive vice president now directly owns 24,589 shares in the company, valued at approximately $3,728,184.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Cullen/Frost Bankers

A number of large investors have recently bought and sold shares of the business. FourThought Financial LLC grew its stake in shares of Cullen/Frost Bankers by 51.1% in the third quarter. FourThought Financial LLC now owns 207 shares of the bank’s stock valued at $27,000 after buying an additional 70 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Cullen/Frost Bankers by 45.5% during the second quarter. Meeder Asset Management Inc. now owns 288 shares of the bank’s stock worth $34,000 after buying an additional 90 shares in the last quarter. 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 buying an additional 138 shares in the last quarter. CWM LLC lifted its holdings in shares of Cullen/Frost Bankers by 638.5% during the second quarter. CWM LLC now owns 384 shares of the bank’s stock worth $45,000 after buying an additional 332 shares in the last quarter. Finally, American National Bank acquired a new position in Cullen/Frost Bankers in the fourth quarter valued at about $57,000. 81.93% of the stock is owned by institutional investors.

About Cullen/Frost Bankers

(Get Rating)

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

Further Reading

Earnings History and Estimates for Cullen/Frost Bankers (NYSE:CFR)

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