FY2024 Earnings Estimate for Cullen/Frost Bankers, Inc. Issued By DA Davidson (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities researchers at DA Davidson boosted their FY2024 earnings per share (EPS) estimates for shares of Cullen/Frost Bankers in a 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 previous forecast of $8.42. 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 $8.42 per share.

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

A number of other equities research analysts also recently weighed in on CFR. Evercore ISI lifted their target price on Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an “underperform” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods dropped their target price on Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Truist Financial dropped their target price on Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating for the company in a report on Monday. JPMorgan Chase & Co. lifted their target price on Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, UBS Group boosted their price target on Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $117.46.

Cullen/Frost Bankers Stock Down 0.9 %

CFR opened at $104.32 on Wednesday. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $120.31. 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 company has a market capitalization of $6.70 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.32 and a beta of 1.03. The stock has a fifty day moving average of $109.03 and a 200-day moving average of $104.18.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. North Star Investment Management Corp. bought a new position in Cullen/Frost Bankers in the 1st quarter valued at $69,000. Norden Group LLC bought a new position in Cullen/Frost Bankers in the 1st quarter valued at $1,062,000. Allspring Global Investments Holdings LLC grew its stake in Cullen/Frost Bankers by 40.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank’s stock valued at $155,000 after purchasing an additional 395 shares during the period. Commonwealth Equity Services LLC grew its stake in Cullen/Frost Bankers by 0.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 49,766 shares of the bank’s stock valued at $5,602,000 after purchasing an additional 157 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Cullen/Frost Bankers by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock worth $92,432,000 after acquiring an additional 12,897 shares during the period. Institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

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 transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $10,543,972. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related 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 completion of the sale, the executive vice president now owns 27,815 shares in the company, valued at $2,934,204.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

Cullen/Frost Bankers Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Friday, May 31st. Cullen/Frost Bankers’s dividend payout ratio is currently 43.50%.

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.