Cullen/Frost Bankers (NYSE:CFR) Announces Earnings Results

Cullen/Frost Bankers (NYSE:CFR) issued its quarterly earnings results on Thursday. The bank reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09, FiscalAI reports. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $578.05 million. Cullen/Frost Bankers had a return on equity of 15.84% and a net margin of 21.99%.During the same period last year, the business posted $2.36 EPS.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock traded up $3.44 on Thursday, hitting $138.63. 200,129 shares of the stock were exchanged, compared to its average volume of 516,733. The firm’s 50 day moving average is $130.59 and its two-hundred day moving average is $128.42. Cullen/Frost Bankers has a one year low of $100.31 and a one year high of $146.44. The firm has a market capitalization of $8.86 billion, a PE ratio of 14.23, a P/E/G ratio of 2.68 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total transaction of $88,900.00. Following the sale, the executive vice president owned 3,795 shares of the company’s stock, valued at $481,965. The trade was a 15.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC boosted its holdings in Cullen/Frost Bankers by 2.9% in the 3rd quarter. Private Advisor Group LLC now owns 3,283 shares of the bank’s stock valued at $416,000 after purchasing an additional 94 shares during the period. Keel Point LLC purchased a new stake in shares of Cullen/Frost Bankers in the second quarter worth $248,000. MML Investors Services LLC boosted its stake in Cullen/Frost Bankers by 7.0% during the second quarter. MML Investors Services LLC now owns 4,350 shares of the bank’s stock valued at $559,000 after buying an additional 286 shares during the period. Curi Capital LLC grew its position in Cullen/Frost Bankers by 12.0% during the second quarter. Curi Capital LLC now owns 2,911 shares of the bank’s stock worth $374,000 after buying an additional 313 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its stake in Cullen/Frost Bankers by 3.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 4,471 shares of the bank’s stock worth $575,000 after acquiring an additional 165 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upgraded Cullen/Frost Bankers from a “market perform” rating to an “outperform” rating and set a $150.00 target price for the company in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cullen/Frost Bankers in a research note on Monday, December 29th. Citigroup increased their target price on Cullen/Frost Bankers from $112.00 to $114.00 and gave the stock a “sell” rating in a report on Friday, October 31st. Royal Bank Of Canada upped their target price on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. Finally, Barclays dropped their price objective on Cullen/Frost Bankers from $145.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $135.73.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.