When looking at the last two reports, this financial holding company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 4.70%, on average, in the last two quarters. Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high ...

There will also be a live webcast of the call. To access the webcast, go to https://investor.frostbank.com/. SAN ANTONIO, July 8, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on Thursday, July 25, 2024 to discuss second quarter 2024 earnings. Conference Call and Live Webcast: The conference call will begin at 1:00 p.m. CT (2:00 p.m. Eastern) and will be hosted by Phil Green, Chairman and CEO, Jerry Salinas, Group Executive Vice President and CFO and A.B. Mendez, Sen ...

SAN ANTONIO, July 1, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE: CFR) announced today that Jerry Salinas, group executive vice president & chief financial officer of Cullen/Frost and Frost Bank, has decided to retire at the end of 2024. Salinas has worked at Frost since 1986 in several positions, including being named bank and corporate controller in 1989 and treasurer in 1997. He became senior executive vice president and treasurer in 2001 and was named to his current position in 2015. "If you t ...

Cullen/Frost's remarkable growth in NII indicates that organic growth is a key strength. Over the previous five years (2018–2023), the metric registered a CAGR of 10.2%. High interest rates and steady credit growth provided support for this. Although NII declined in the first quarter of 2024, the current high interest rate environment, the expected decline in deposit costs, decent loan demand and exposure to non-interest-bearing deposits will likely boost NII in the upcoming period. In the first quarter of ...

Calvin Sienatra Banking ETF (KRE): VAL -9 10% Cullen/Frost Bankers Inc (CFR) Price % Change SPDR® S&P Regional Banking ETF (KRE) Price % Change -4.36% 6.00% 0.00% -9.10% -12.00% Apr '24 Jun '24 May 24 Seeking AlphaQ Jun 7, 2024, 4:28 PM EDT Powered by YC HARTS Data by YCharts Compared to an average price to book value of 0.94x for KRE's holdings, CFR trades at a much higher price to book value of 1.85x. Lastly, KRE's index dividend yield stands at 3.7%, compared to CFR's dividend yield of 3.65%, so they're ...

Shares of Cullen/Frost Bankers, Inc. (CFR) declined 5.2% despite better-than-expected first-quarter 2024 earnings. Adjusted earnings per share (excluding the impact of FDIC surcharge) were $2.15, down 20.4% from the prior-year quarter. Nonetheless, the bottom line surpassed the Zacks Consensus Estimate of $2.13.Results were primarily aided by a rise in non-interest income and higher loan balances during the quarter. However, a rise in non-interest expenses and credit loss expenses and reduced net interest i ...

Financial Data and Key Metrics Changes - The company reported earnings of $134 million or $2.06 per share for the first quarter, down from $176 million or $2.70 per share in the same quarter last year, impacted by a $7.7 million FDIC insurance surcharge [66] - Return on average assets and average common equity were 1.09% and 15.22%, respectively, compared to 1.39% and 22.59% for the same period last year [46] - Average deposits decreased by 4.8% to $40.7 billion from $42.8 billion year-over-year, while average loans grew by 10.4% to $19.1 billion [68] Business Line Data and Key Metrics Changes - Insurance commissions and fees increased by $5.6 million or 44%, with property and casualty and benefit company bonuses contributing significantly [61] - Average consumer loans grew by an annualized 13% on a linked-quarter basis, reaching $3 billion in average balances [70] - New loan commitments booked in the first quarter were 24% less than the level booked in the first quarter of 2023 [50] Market Data and Key Metrics Changes - The company experienced a shift in deposit mix, with average non-interest-bearing demand deposits decreasing by 4.9% while interest-bearing deposits increased by 1% [80] - Problem loans totaled $809 million at the end of the first quarter, up from $571 million at the end of the fourth quarter and $347 million a year ago, primarily due to company-specific C&I loans [53] Company Strategy and Development Direction - The company continues to focus on organic growth, achieving significant deposit and loan goals in new market expansions, with Houston locations at 104% of deposit goals and Dallas at 174% [48] - The company plans to maintain a conservative approach to loan growth, with expectations of high single-digit growth for the full year [108] Management's Comments on Operating Environment and Future Outlook - Management noted that while deposit pressure eased in the broader market, the company continues to face competitive pressures on deposit costs [12] - The outlook for net interest income remains stable, with expectations for slight upward trends in net interest margin for the remainder of the year [83] Other Important Information - The company expects non-interest expense growth in the range of 6% to 8% for the full year, unchanged from previous guidance [109] - The effective tax rate for the full year is expected to be comparable to the previous year at 16.1% [109] Q&A Session Summary Question: What is driving the incremental pressure on deposit costs? - Management indicated that competitive pressures and customer behavior are influencing deposit costs, particularly in the non-interest-bearing segment [12] Question: How are problem loans expected to trend in the current environment? - Management does not foresee significant trends related to interest rates impacting problem loans, with most issues being company-specific [15][32] Question: What is the outlook for net interest income given the current market conditions? - Management expects net interest income growth in the range of 2% to 4%, with pressures from higher funding costs being a factor [83][86]

| --- | --- | --- | --- | |-----------------------------------------|----------------------------------------------------------------------|-------|--------------------------------------------| | | | | | | | | | | | | Commission file number: | | 001-13221 | | (Exact | Cullen/Frost Bankers, Inc. name of registrant as specified | | in its charter) | | Texas | | | 74-1751768 | | (State or other jurisdiction of | incorporation or organization) | | (I.R.S. Employer Identification No.) | | 111 W. Houston Street, ...

Cullen/Frost Bankers (CFR) reported $522.74 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.6%. EPS of $2.15 for the same period compares to $2.70 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $524.89 million, representing a surprise of -0.41%. The company delivered an EPS surprise of +0.94%, with the consensus EPS estimate being $2.13.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Cullen/Frost Bankers (CFR) came out with quarterly earnings of $2.15 per share, beating the Zacks Consensus Estimate of $2.13 per share. This compares to earnings of $2.70 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.94%. A quarter ago, it was expected that this financial holding company would post earnings of $2.01 per share when it actually produced earnings of $2.18, delivering a surprise of 8.46%.Over the last four qu ...