What is Zacks Research’s Forecast for CFR FY2024 Earnings?

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for Cullen/Frost Bankers in a note issued to investors on Tuesday, January 21st. Zacks Research analyst R. Department now expects that the bank will earn $8.71 per share for the year, up from their previous estimate of $8.64. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.75 per share. Zacks Research also issued estimates for Cullen/Frost Bankers’ Q4 2024 earnings at $2.11 EPS, Q1 2025 earnings at $1.97 EPS, Q2 2025 earnings at $2.02 EPS, Q3 2025 earnings at $2.14 EPS, Q4 2025 earnings at $1.78 EPS and FY2025 earnings at $7.90 EPS.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. The firm 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 15.82% and a net margin of 18.81%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.38 earnings per share.

A number of other research analysts have also recently issued reports on CFR. Citigroup lifted their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a report on Monday, November 4th. Stephens boosted 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 report on Friday, November 1st. Compass Point raised their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. 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 report on Friday, November 1st. Finally, Morgan Stanley dropped their price target 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. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus price target of $127.07.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $140.30 on Thursday. Cullen/Frost Bankers has a twelve month low of $94.09 and a twelve month high of $147.64. 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 stock has a market cap of $9.00 billion, a P/E ratio of 17.41, a PEG ratio of 1.77 and a beta of 1.00. The company’s 50-day simple moving average is $137.78 and its 200 day simple moving average is $123.05.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.71%. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Insider Activity

In related news, CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the completion of the sale, the chief executive officer now owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the stock in a transaction dated Friday, November 1st. The shares were 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 in the company, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,864 shares of company stock valued at $2,977,033. 2.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

A number of large investors have recently made changes to their positions in CFR. Covestor Ltd boosted its holdings 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 purchasing an additional 141 shares during the period. UMB Bank n.a. raised its position in shares of Cullen/Frost Bankers by 45.8% in the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after buying an additional 77 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cullen/Frost Bankers in the third quarter valued at approximately $29,000. Asset Dedication LLC boosted its stake 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 buying an additional 105 shares during the period. Finally, Blue Trust Inc. grew its position in Cullen/Frost Bankers by 239.0% during the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock worth $46,000 after buying an additional 239 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

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.