Q2 2024 Earnings Forecast for Cullen/Frost Bankers, Inc. Issued By Wedbush (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Analysts at Wedbush cut their Q2 2024 earnings per share estimates for shares of Cullen/Frost Bankers in a note issued to investors on Thursday, April 25th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings of $2.03 per share for the quarter, down from their previous estimate of $2.07. Wedbush has a “Neutral” rating and a $115.00 price objective on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.46 per share. Wedbush also issued estimates for Cullen/Frost Bankers’ Q3 2024 earnings at $2.10 EPS, Q4 2024 earnings at $2.22 EPS, FY2024 earnings at $8.50 EPS and Q1 2025 earnings at $2.02 EPS.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share 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 period in the prior year, the firm posted $2.70 earnings per share.

A number of other analysts also recently commented on CFR. UBS Group upped 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. Morgan Stanley upped their price objective on Cullen/Frost Bankers from $109.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Royal Bank of Canada restated a “sector perform” rating and set a $118.00 price objective on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. DA Davidson restated a “buy” rating and set a $126.00 price objective on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Finally, Jefferies Financial Group upped their price objective on Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $117.46.

Cullen/Frost Bankers Trading Down 1.6 %

Shares of CFR opened at $105.38 on Monday. The company has a market capitalization of $6.77 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a fifty day moving average of $109.11 and a two-hundred day moving average of $104.08. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $120.31.

Cullen/Frost Bankers Dividend Announcement

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

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction dated 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 transaction, 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 filing with the SEC, which is accessible through this link. In other news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the transaction, the executive vice president now owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Bracher sold 9,820 shares of the 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 transaction, 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. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several large investors have recently modified their holdings of CFR. NBC Securities Inc. bought a new position in shares of Cullen/Frost Bankers during the third quarter worth about $27,000. ICA Group Wealth Management LLC acquired a new stake in Cullen/Frost Bankers during the fourth quarter worth about $33,000. Arvest Investments Inc. acquired a new stake in Cullen/Frost Bankers during the fourth quarter worth about $35,000. CWM LLC raised its stake in Cullen/Frost Bankers by 46.5% during the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after acquiring an additional 106 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in Cullen/Frost Bankers during the fourth quarter worth about $43,000. Institutional investors own 86.90% of the company’s stock.

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.