Wedbush Brokers Lower Earnings Estimates for Cullen/Frost Bankers, Inc. (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Stock analysts at Wedbush cut their Q3 2024 earnings per share (EPS) estimates for shares of Cullen/Frost Bankers in a report released on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings per share of $2.15 for the quarter, down from their prior forecast of $2.18. Wedbush currently has a “Neutral” rating and a $115.00 target price on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.47 per share. Wedbush also issued estimates for Cullen/Frost Bankers’ Q4 2024 earnings at $2.25 EPS, Q2 2025 earnings at $2.04 EPS, Q3 2025 earnings at $2.13 EPS, Q4 2025 earnings at $2.22 EPS and FY2025 earnings at $8.45 EPS.

Several other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods cut 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 note on Friday, January 26th. Compass Point cut Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. UBS Group lifted their price objective on Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Citigroup assumed coverage on Cullen/Frost Bankers in a report on Friday, December 1st. They issued a “sell” rating and a $94.00 price objective on the stock. Finally, Evercore ISI lifted their price objective on Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an “underperform” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and a consensus price target of $113.92.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock opened at $112.63 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $120.31. The business has a 50-day moving average price of $107.21 and a 200 day moving average price of $101.09. The firm has a market cap of $7.23 billion, a PE ratio of 12.38, a P/E/G ratio of 1.33 and a beta of 1.03.

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

Hedge Funds Weigh In On Cullen/Frost Bankers

Institutional investors and hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. acquired a new position in shares of Cullen/Frost Bankers during the first quarter worth $25,000. Lazard Asset Management LLC acquired a new position in shares of Cullen/Frost Bankers during the fourth quarter worth $26,000. NBC Securities Inc. acquired a new position in shares of Cullen/Frost Bankers during the third quarter worth $27,000. ICA Group Wealth Management LLC acquired a new position in shares of Cullen/Frost Bankers during the fourth quarter worth $33,000. Finally, Arvest Investments Inc. acquired a new position in Cullen/Frost Bankers in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was 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 of the company’s stock, valued at $10,543,972. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was 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 of the company’s stock, valued at $2,934,204.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the sale, the insider now directly owns 96,380 shares in the company, valued at approximately $10,543,972. The disclosure for this sale can be found here. 2.89% of the stock is owned by corporate insiders.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Wednesday, February 28th. Cullen/Frost Bankers’s payout ratio is 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.