Cullen/Frost Bankers, Inc. Expected to Earn Q1 2024 Earnings of $2.13 Per Share (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFRFree Report) – Stock analysts at DA Davidson decreased their Q1 2024 EPS estimates for shares of 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 post earnings per share of $2.13 for the quarter, down from their previous forecast of $2.21. 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. DA Davidson also issued estimates for Cullen/Frost Bankers’ FY2025 earnings at $8.53 EPS.

Other analysts also recently issued reports about the stock. UBS Group lifted their price objective on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Morgan Stanley increased their price objective 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. Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, January 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $118.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, January 26th. Finally, Truist Financial boosted their price objective on shares of Cullen/Frost Bankers from $114.00 to $121.00 and gave the stock a “hold” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and an average price target of $115.77.

Read Our Latest Analysis on CFR

Cullen/Frost Bankers Trading Down 1.6 %

Shares of CFR opened at $110.21 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.63 and a quick ratio of 0.63. Cullen/Frost Bankers has a 1-year low of $82.25 and a 1-year high of $120.31. The company has a market capitalization of $7.08 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.40 and a beta of 1.03. The firm’s 50 day simple moving average is $107.47 and its 200 day simple moving average is $101.51.

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

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new position in shares of Cullen/Frost Bankers during the first quarter valued at approximately $25,000. Lazard Asset Management LLC bought a new position in Cullen/Frost Bankers during the 4th quarter valued at approximately $26,000. NBC Securities Inc. purchased a new position in Cullen/Frost Bankers during the third quarter valued at $27,000. ICA Group Wealth Management LLC bought a new stake in Cullen/Frost Bankers in the fourth quarter worth $33,000. Finally, Arvest Investments Inc. purchased a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth $35,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction of $1,074,308.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $10,543,972. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bobby Berman sold 1,312 shares of the 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 transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, 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.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Wednesday, February 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 40.44%.

Cullen/Frost Bankers Company Profile

(Get Free Report)

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.

Further Reading

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

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