Core Viewpoint - Cullen/Frost Bankers reported quarterly earnings of $2.36 per share, exceeding the Zacks Consensus Estimate of $2.17 per share, marking an earnings surprise of 8.76% [1][2] Financial Performance - The company achieved revenues of $556.44 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.28% and showing an increase from $523.66 million year-over-year [2] - Over the last four quarters, Cullen/Frost has consistently surpassed consensus EPS estimates and topped revenue estimates three times [2] Stock Performance - Cullen/Frost shares have increased approximately 3.4% since the beginning of the year, outperforming the S&P 500's gain of 2.7% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.03 on revenues of $538.29 million, and for the current fiscal year, it is $8.52 on revenues of $2.16 billion [7] - The estimate revisions trend for Cullen/Frost is favorable, which could influence future stock movements [6][5] Industry Context - The Banks - Southwest industry, to which Cullen/Frost belongs, is currently ranked in the top 4% of over 250 Zacks industries, suggesting a positive outlook for the sector [8]

Financial Performance - Net income available to common shareholders for Q4 2024 was $153.2 million, an increase of $52.3 million or 51.8% compared to $100.9 million in Q4 2023[2] - Fourth quarter diluted earnings per common share for 2024 was $2.36, up 52.3% from $1.55 in Q4 2023[2] - For the full year 2024, net income available to common shareholders was $575.9 million, a decrease of 2.6% from $591.3 million in 2023[4] - Net income available to common shareholders decreased to $575.9 million in 2024 from $591.3 million in 2023, a decline of 2.9%[23] - Earnings per common share (basic) for 2024 was $8.88, down from $9.11 in 2023, reflecting a decrease of 2.5%[23] Income and Expenses - Non-interest income for Q4 2024 was $122.8 million, an increase of $9.1 million or 8.0% from $113.8 million in Q4 2023[8] - Non-interest expense for Q4 2024 was $336.2 million, down $29.1 million or 8.0% compared to $365.2 million in Q4 2023[10] - Net interest income for Q4 2024 was $413,518,000, an increase from $404,331,000 in Q3 2024, reflecting a growth of 0.3%[19] - Net interest income for 2024 increased to $1,604.6 million, up from $1,558.7 million in 2023, representing a growth of 2.5%[23] - Total non-interest income rose to $459.1 million in 2024, compared to $428.5 million in 2023, marking an increase of 7.1%[23] Loans and Deposits - Average loans for Q4 2024 increased by $1.7 billion, or 9.3%, to $20.3 billion compared to $18.6 billion in Q4 2023[5] - Average deposits for Q4 2024 increased by $701.7 million, or 1.7%, to $41.9 billion compared to $41.2 billion in Q4 2023[5] - Total deposits reached $42,723,000,000 in Q4 2024, an increase from $41,721,000,000 in Q3 2024, reflecting a growth of 2.4%[21] - Total deposits as of December 31, 2024, were $42.7 billion, an increase from $41.9 billion in 2023, showing a growth of 1.9%[25] Credit Quality - The company reported a credit loss expense of $16.2 million for Q4 2024, compared to $19.4 million in Q3 2024[10] - The allowance for credit losses on loans increased to $270,151,000 in Q4 2024, up from $263,129,000 in Q3 2024, indicating a rise of 3.9%[21] - Non-accrual loans decreased to $78,866,000 in Q4 2024, down from $104,877,000 in Q3 2024, a reduction of 25%[21] - The allowance for credit losses on loans increased to $270.2 million, up from $246.0 million in 2023, indicating a rise of 9.3%[25] - Non-accrual loans increased to $78.9 million, compared to $60.9 million in 2023, representing a growth of 29.6%[25] Capital Ratios - The Tier 1 Risk-Based Capital Ratio was 14.07% in Q4 2024, compared to 14.02% in Q3 2024, indicating a slight improvement[21] - Common Equity Tier 1 Risk-Based Capital Ratio improved to 13.62% in 2024 from 13.25% in 2023, an increase of 2.8%[25] - The leverage ratio increased to 8.63% in 2024, up from 8.35% in 2023, indicating a strengthening of capital position[25] Shareholder Returns - The board declared a first-quarter cash dividend of $0.95 per common share, payable on March 14, 2025[11] - The company authorized a $150 million stock repurchase program, expiring on January 28, 2026[12] Book Value - The book value per common share at the end of Q4 2024 was $58.46, down from $62.41 in Q3 2024, a decrease of 6.3%[19] - Book value per common share at the end of the quarter rose to $58.46, compared to $55.64 in 2023, reflecting an increase of 3.3%[23]

Core Insights - Cullen/Frost Bankers, Inc. reported a net income of $153.2 million for Q4 2024, an increase of $52.3 million from $100.9 million in Q4 2023, with adjusted earnings per diluted share rising to $2.36 from $1.55 [1][2][15] - The company declared a first-quarter cash dividend of $0.95 per common share and authorized a $150 million stock repurchase program [6][7] Financial Performance - For Q4 2024, net interest income was $433.7 million, up 5.8% from $409.9 million in Q4 2023, with average loans increasing by $1.7 billion, or 9.3%, to $20.3 billion [3][5] - Annual net income available to common shareholders for 2024 was $575.9 million, a decrease of 2.6% from $591.3 million in 2023 [2][17] - The company’s return on average assets and average common equity for Q4 2024 were 1.19% and 15.58%, respectively, compared to 0.82% and 13.51% in Q4 2023 [1][15] Capital and Asset Quality - As of December 31, 2024, the Common Equity Tier 1, Tier 1, and Total Risk-Based Capital Ratios were 13.62%, 14.07%, and 15.53%, respectively, exceeding Basel III requirements [5][16] - The allowance for credit losses on loans was 1.30% of total loans at year-end 2024, with non-accrual loans totaling $78.9 million [6][19] Dividends and Share Repurchase - The board declared a cash dividend of $11.125 per share of Series B Preferred Stock, payable on March 17, 2025 [6][7] - The new share repurchase program allows for the purchase of up to $150 million of common stock over one year, expiring January 28, 2026 [7][8] Operational Highlights - Average total deposits for 2024 were $41.0 billion, down 1.1% from $41.4 billion in 2023, while average total loans increased by 10.7% [4][18] - Non-interest income for Q4 2024 was $122.8 million, an increase of 8.0% from $113.8 million in Q4 2023, driven by higher trust and investment management fees [5][13]

Group 1 - US regional banks exhibit significant variability in loan and deposit growth prospects as well as credit quality, influenced by their geographic locations [1] Group 2 - Elliott Gue is recognized as a leading energy strategist with extensive experience in the energy sector, having contributed to various publications and media outlets [2] - The Energy & Income Advisor, launched by Elliott Gue, focuses on identifying profitable opportunities in the energy sector, including growth stocks and high-yielding utilities [2]

Cullen/Frost Bankers (CFR) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on J ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

Cullen/Frost Bankers (CFR) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The power ...

SAN ANTONIO, Jan. 9, 2025 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on Thursday, January 30, 2025 to discuss fourth quarter 2024 earnings. Earnings Release: The earnings release for Cullen/Frost Bankers, Inc. will be available at approximately 8:00 a.m. Central Time (CT) on the internet at https://investor.frostbank.com/. 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 ...

Cullen/Frost Bankers, Inc. (CFR) reported third-quarter 2024 earnings per share (EPS) of $2.24, down 5.6% from the prior-year quarter. Nonetheless, the bottom line surpassed the Zacks Consensus Estimate by 3.7%.Find the latest earnings estimates and surprises on the Zacks Earnings Calendar.Results were primarily aided by a rise in non-interest income and net interest income (NII), alongside higher loan balances in the quarter. However, a rise in non-interest expenses and credit loss expenses were significan ...

Cullen/Frost Bankers, Inc. (CFR) Q3 2024 Earnings Conference Call October 31, 2024 2:00 PM ET Company Participants A.B. Mendez - SVP, Director of IR Phil Green - Chairman and CEO Jerry Salinas - Group EVP, CFO Dan Geddes - Incoming CFO Conference Call Participants Peter Winter - D.A. Davidson Dave Rochester - Compass Point Ebrahim Poonawala - Bank of America Catherine Mealor - KBW Ben Gerlinger - Citi Manan Gosalia - Morgan Stanley Jon Arfstrom - RBC Capital Markets Operator Greetings. Welcome to Cullen/Fro ...