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

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Research analysts at Zacks Research lowered their Q2 2024 earnings estimates for shares of Cullen/Frost Bankers in a report released on Tuesday, July 23rd. Zacks Research analyst R. Department now forecasts that the bank will post earnings per share of $2.04 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.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. The business had revenue of $522.74 million for the quarter, compared to the consensus estimate of $510.09 million. During the same quarter last year, the firm posted $2.70 EPS.

Other equities research analysts also recently issued research reports about the stock. Evercore ISI dropped their price target on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 25th. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, April 26th. StockNews.com raised shares of Cullen/Frost Bankers to a “sell” rating in a research report on Saturday, May 4th. Royal Bank of Canada boosted their target price on shares of Cullen/Frost Bankers from $118.00 to $119.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 9th. Finally, DA Davidson reissued a “buy” rating and issued a $126.00 target price on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $113.77.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $117.71 on Wednesday. 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 price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.44 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The firm’s fifty day moving average price is $102.16 and its 200 day moving average price is $105.73.

Institutional Trading of Cullen/Frost Bankers

Several large investors have recently modified their holdings of CFR. ICA Group Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the 4th quarter valued at $33,000. Arvest Investments Inc. acquired a new position in shares of Cullen/Frost Bankers in the 4th quarter valued at $35,000. CWM LLC raised its stake in shares of Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after buying an additional 106 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Cullen/Frost Bankers in the 4th quarter valued at $43,000. Finally, Whittier Trust Co. raised its stake in shares of Cullen/Frost Bankers by 90.7% in the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after buying an additional 186 shares in the last quarter. 86.90% of the stock is owned by 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.