DA Davidson Comments on Cullen/Frost Bankers, Inc.’s Q3 2024 Earnings (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Stock analysts at DA Davidson increased their Q3 2024 earnings per share (EPS) estimates for shares of Cullen/Frost Bankers in a note issued to investors on Thursday, October 3rd. DA Davidson analyst P. Winter now anticipates that the bank will post earnings of $2.21 per share for the quarter, up from their prior forecast of $2.19. DA Davidson currently has a “Buy” rating and a $134.00 target price on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.64 per share. DA Davidson also issued estimates for Cullen/Frost Bankers’ FY2024 earnings at $8.73 EPS and FY2025 earnings at $8.83 EPS.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The firm had revenue of $528.81 million for the quarter, compared to analysts’ expectations of $506.83 million. During the same period in the previous year, the firm earned $2.47 EPS.

A number of other research analysts have also recently commented on CFR. Jefferies Financial Group lowered their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Morgan Stanley lowered their price target on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their price target on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Stephens boosted their price target on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Evercore ISI lowered their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $121.14.

Cullen/Frost Bankers Stock Up 4.0 %

CFR stock opened at $113.29 on Friday. The business’s 50-day moving average price is $110.17 and its 200-day moving average price is $107.11. The company has a quick ratio of 0.64, a current ratio of 0.64 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 $123.17. The stock has a market cap of $7.25 billion, a P/E ratio of 13.39, a PEG ratio of 1.32 and a beta of 1.00.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in Cullen/Frost Bankers in the second quarter valued at about $2,199,000. Point72 Asset Management L.P. purchased a new stake in Cullen/Frost Bankers in the second quarter valued at about $13,574,000. Northwestern Mutual Wealth Management Co. raised its stake in Cullen/Frost Bankers by 2.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank’s stock valued at $600,000 after buying an additional 156 shares during the last quarter. Creative Planning raised its stake in Cullen/Frost Bankers by 7.4% in the second quarter. Creative Planning now owns 8,449 shares of the bank’s stock valued at $859,000 after buying an additional 585 shares during the last quarter. Finally, Algert Global LLC raised its stake in Cullen/Frost Bankers by 19.7% in the second quarter. Algert Global LLC now owns 37,301 shares of the bank’s stock valued at $3,791,000 after buying an additional 6,143 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares of the company’s stock, valued at $2,243,796.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the transaction, the executive vice president now directly owns 1,598 shares in the company, valued at $190,481.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.80 annualized dividend and a dividend yield of 3.35%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s payout ratio is currently 44.92%.

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.