Wedbush Boosts Earnings Estimates for Cullen/Frost Bankers

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for Cullen/Frost Bankers in a research report issued on Friday, November 1st. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings per share of $8.80 for the year, up from their prior estimate of $8.55. Wedbush currently has a “Neutral” rating and a $123.00 target price on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.57 per share. Wedbush also issued estimates for Cullen/Frost Bankers’ Q4 2024 earnings at $2.19 EPS, Q4 2025 earnings at $2.13 EPS, FY2025 earnings at $8.20 EPS, Q1 2026 earnings at $1.92 EPS, Q2 2026 earnings at $2.04 EPS and Q3 2026 earnings at $2.15 EPS.

CFR has been the topic of a number of other research reports. Evercore ISI lowered their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Citigroup increased their price target on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday. Maxim Group increased their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson increased their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Stephens increased their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $124.00.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $124.91 on Monday. The firm has a market cap of $8.00 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.56 and a beta of 0.98. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 1-year low of $91.24 and a 1-year high of $135.00. The business’s 50 day moving average is $115.61 and its 200-day moving average is $109.02.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a return on equity of 16.34% and a net margin of 23.98%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 earnings per share.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd lifted its holdings in Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after buying an additional 141 shares during the period. Asset Dedication LLC lifted its holdings in Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after buying an additional 105 shares during the period. Whittier Trust Co. lifted its holdings in Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after buying an additional 186 shares during the period. Allworth Financial LP lifted its holdings in Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after buying an additional 239 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Cullen/Frost Bankers during the 3rd quarter worth about $52,000. Institutional investors own 86.90% of the company’s stock.

Insider Activity

In related news, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares in the company, valued at $3,367,550.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 3.04%. Cullen/Frost Bankers’s payout ratio is 47.15%.

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.