Zacks Research Has Bullish Forecast for CFR Q3 Earnings

Cullen/Frost Bankers, Inc. (NYSE:CFR) – Research analysts at Zacks Research boosted their Q3 2024 earnings estimates for shares of Cullen/Frost Bankers in a note issued to investors on Monday, October 28th. Zacks Research analyst R. Department now anticipates that the bank will post earnings of $2.15 per share for the quarter, up from their previous estimate of $2.10. The consensus estimate for Cullen/Frost Bankers’ current full-year earnings is $8.59 per share. Zacks Research also issued estimates for Cullen/Frost Bankers’ Q4 2024 earnings at $1.95 EPS, Q1 2025 earnings at $1.94 EPS, Q3 2025 earnings at $2.11 EPS, Q2 2026 earnings at $2.18 EPS and Q3 2026 earnings at $2.18 EPS.

Other equities research analysts have also recently issued research reports about the company. DA Davidson boosted their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Maxim Group upped their target price on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 26th. Jefferies Financial Group cut their price target on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial decreased their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Finally, Royal Bank of Canada lifted their target price on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $121.31.

Cullen/Frost Bankers Stock Down 2.0 %

Shares of NYSE CFR opened at $129.76 on Wednesday. The business has a 50-day moving average of $114.08 and a two-hundred day moving average of $108.43. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.56 and a beta of 1.00. Cullen/Frost Bankers has a 1 year low of $88.86 and a 1 year high of $133.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64.

Hedge Funds Weigh In On Cullen/Frost Bankers

Institutional investors have recently bought and sold shares of the company. Asset Dedication LLC increased its stake in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after acquiring an additional 105 shares during the period. Whittier Trust Co. boosted its holdings in 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 purchasing an additional 186 shares in the last quarter. Allworth Financial LP increased its position 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 purchasing an additional 239 shares during the period. Abich Financial Wealth Management LLC purchased a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth approximately $54,000. Finally, North Star Investment Management Corp. acquired a new stake in shares of Cullen/Frost Bankers in the 1st quarter valued at approximately $69,000. 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.