Q2 2024 EPS Estimates for Cullen/Frost Bankers, Inc. Cut by Zacks Research (NYSE:CFR)

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Equities researchers at Zacks Research lowered their Q2 2024 earnings per share estimates for Cullen/Frost Bankers in a research report issued on Tuesday, July 23rd. Zacks Research analyst R. Department now anticipates that the bank will post earnings of $2.04 per share for the quarter, down from their prior estimate of $2.06. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.42 per share. Zacks Research also issued estimates for Cullen/Frost Bankers’ Q3 2024 earnings at $2.04 EPS, FY2024 earnings at $8.28 EPS, Q1 2025 earnings at $2.01 EPS and FY2026 earnings at $9.04 EPS.

Several other research analysts have also recently weighed in on CFR. DA Davidson reissued a “buy” rating and issued a $126.00 price objective on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Jefferies Financial Group dropped their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com raised Cullen/Frost Bankers to a “sell” rating in a research report on Saturday, May 4th. Evercore ISI dropped their price target on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Truist Financial dropped their price target on Cullen/Frost Bankers from $115.00 to $102.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $113.77.

Cullen/Frost Bankers Trading Up 3.4 %

Shares of Cullen/Frost Bankers stock opened at $117.71 on Wednesday. The stock has a fifty day simple moving average of $102.16 and a 200 day simple moving average of $105.73. Cullen/Frost Bankers has a 12-month low of $82.25 and a 12-month high of $123.17. The company has a market capitalization of $7.56 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 1.44 and a beta of 1.03. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 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%. The firm had revenue of $522.74 million during the quarter, compared to the consensus estimate of $510.09 million. During the same quarter in the previous year, the company posted $2.70 earnings per share.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several large investors have recently made changes to their positions in the business. Raymond James Trust N.A. bought a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth about $222,000. Brookstone Capital Management bought a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth about $228,000. Raymond James Financial Services Advisors Inc. increased its stake in Cullen/Frost Bankers by 53.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,420 shares of the bank’s stock worth $1,131,000 after acquiring an additional 3,609 shares during the last quarter. Pacer Advisors Inc. increased its stake in Cullen/Frost Bankers by 79.5% during the fourth quarter. Pacer Advisors Inc. now owns 9,623 shares of the bank’s stock worth $1,044,000 after acquiring an additional 4,263 shares during the last quarter. Finally, Elk River Wealth Management LLC bought a new stake in Cullen/Frost Bankers during the fourth quarter worth approximately $217,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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.