DA Davidson Issues Optimistic Forecast for CFR Earnings

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Stock analysts at DA Davidson upped their FY2024 earnings per share estimates for shares of Cullen/Frost Bankers in a research note issued on Monday, November 4th. DA Davidson analyst P. Winter now forecasts that the bank will post earnings of $8.78 per share for the year, up from their previous estimate of $8.73. DA Davidson has a “Buy” rating and a $134.00 price objective on the stock. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.61 per share. DA Davidson also issued estimates for Cullen/Frost Bankers’ Q4 2024 earnings at $2.16 EPS and FY2025 earnings at $9.02 EPS.

Several other analysts have also recently commented on the stock. Stephens increased their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Evercore ISI decreased 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, October 2nd. Morgan Stanley dropped their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, September 30th. Finally, Truist Financial reduced their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target of $123.86.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $127.64 on Tuesday. The company’s 50-day moving average price is $116.22 and its two-hundred day moving average price is $109.24. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a market cap of $8.17 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98. Cullen/Frost Bankers has a 12 month low of $91.24 and a 12 month high of $135.00.

Cullen/Frost Bankers (NYSE:CFR) last released 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. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same quarter in the previous year, the business earned $2.38 EPS. The business’s revenue was up 5.4% on a year-over-year basis.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.98%. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Insider Buying and Selling

In related news, EVP Bobby Berman sold 3,506 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. Asset Dedication LLC raised its position in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after purchasing an additional 105 shares during the period. Whittier Trust Co. lifted its position in shares of Cullen/Frost Bankers by 90.7% during the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after acquiring an additional 186 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after acquiring an additional 239 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of Cullen/Frost Bankers in the third quarter valued at $52,000. 86.90% of the stock is owned by institutional investors and hedge funds.

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.