CFR Stock - Cullen/Frost Bankers, Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $2.85B | $2.65B | $1.88B | $1.40B | $1.49B |
| Gross Profit | $2.00B | $1.94B | $1.69B | $1.37B | $1.20B |
| Gross Margin | 70.1% | 73.4% | 90.0% | 98.3% | 80.7% |
| Operating Income | $695.97M | $712.37M | $668.83M | $489.54M | $351.32M |
| Net Income | $582.54M | $597.97M | $579.15M | $443.08M | $331.15M |
| Net Margin | 20.4% | 22.6% | 30.8% | 31.8% | 22.3% |
| EPS | $8.88 | $9.11 | $8.84 | $6.79 | $5.11 |
Cullen/Frost Bankers, Inc. operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services. It also provides consumer banking services, such as checking accounts, savings programs, automated-teller machines (ATMs), overdraft facilities, installment and real estate loans, home equity loans and lines of credit, drive-in and night deposit services, safe deposit facilities, and brokerage services. In addition, the company offers international banking services comprising deposits, loans, letters of credit, foreign collections, funds, and foreign exchange services. Further, it acts as a correspondent for approximately 171 financial institutions; offers trust, investment, agency, and custodial services for individual and corporate clients; provides capital market services that include sales and trading, new issue underwriting, money market trading, advisory, and securities safekeeping and clearance; and supports international business activities. Additionally, the company offers insurance and securities brokerage services; and holds securities for investment purposes, as well as investment management services to Frost-managed mutual funds, institutions, and individuals. It operates approximately 157 financial centers and 1,650 ATMs. The company serves energy, manufacturing, services, construction, retail, telecommunications, healthcare, military, and transportation industries. Cullen/Frost Bankers, Inc. was founded in 1868 and is headquartered in San Antonio, Texas.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| January 5th 2026 | Keefe Bruyette | Upgrade | Outperform | $150 |
| September 10th 2025 | Cantor Fitzgerald | Initiation | Neutral | $138 |
| July 8th 2025 | Raymond James | Upgrade | Outperform | $150 |
| May 21st 2025 | Jefferies | Initiation | Underperform | $105 |
| May 2nd 2025 | Evercore ISI | Upgrade | In-line | $132 |
| April 1st 2025 | Barclays | Initiation | Equal Weight | $130 |
| February 3rd 2025 | DA Davidson | Downgrade | Neutral | $143← $138 |
| November 1st 2024 | Maxim Group | Reiterated | Buy | $149← $138 |
| August 5th 2024 | Morgan Stanley | Downgrade | Underweight | $121← $112 |
| July 26th 2024 | Maxim Group | Reiterated | Buy | $138← $132 |
| January 8th 2024 | Compass Point | Downgrade | Neutral | - |
| January 3rd 2024 | Evercore ISI | Downgrade | Underperform | $111← $98 |
| December 1st 2023 | Citigroup | Initiation | Sell | $94 |
| August 25th 2023 | UBS | Upgrade | Neutral | $100← $97 |
| May 16th 2023 | Morgan Stanley | Downgrade | Equal Weight | $121← $127 |
Earnings History & Surprises
CFREPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 29, 2026 | — | — | — | — |
Q1 2026 | Jan 29, 2026 | $2.47 | — | — | — |
Q4 2025 | Oct 30, 2025 | $2.38 | $2.67 | +12.2% | ✓ BEAT |
Q3 2025 | Jul 31, 2025 | $2.28 | $2.39 | +4.8% | ✓ BEAT |
Q2 2025 | May 1, 2025 | $2.16 | $2.30 | +6.5% | ✓ BEAT |
Q1 2025 | Jan 30, 2025 | $2.17 | $2.36 | +8.8% | ✓ BEAT |
Q4 2024 | Oct 31, 2024 | $2.17 | $2.24 | +3.2% | ✓ BEAT |
Q3 2024 | Jul 25, 2024 | $2.07 | $2.21 | +6.8% | ✓ BEAT |
Q2 2024 | Apr 25, 2024 | $2.12 | $2.06 | -2.8% | ✗ MISS |
Q1 2024 | Jan 25, 2024 | $2.02 | $1.55 | -23.3% | ✗ MISS |
Q4 2023 | Oct 26, 2023 | $2.15 | $2.38 | +10.7% | ✓ BEAT |
Q3 2023 | Jul 27, 2023 | $2.40 | $2.47 | +2.9% | ✓ BEAT |
Q2 2023 | Apr 27, 2023 | $2.55 | $2.70 | +5.9% | ✓ BEAT |
Q1 2023 | Jan 26, 2023 | $2.75 | $2.91 | +5.8% | ✓ BEAT |
Q4 2022 | Oct 27, 2022 | $2.23 | $2.59 | +16.1% | ✓ BEAT |
Q3 2022 | Jul 28, 2022 | $1.77 | $1.81 | +2.3% | ✓ BEAT |
Q2 2022 | Apr 28, 2022 | $1.47 | $1.50 | +2.0% | ✓ BEAT |
Q1 2022 | Jan 27, 2022 | $1.34 | $1.54 | +14.9% | ✓ BEAT |
Q4 2021 | Oct 28, 2021 | $1.52 | $1.65 | +8.6% | ✓ BEAT |
Q3 2021 | Jul 29, 2021 | $1.56 | $1.80 | +15.4% | ✓ BEAT |
Latest News
Keefe, Bruyette & Woods Upgrades Cullen/Frost Bankers to Outperform, Maintains Price Target to $150
📈 PositiveCullen/Frost Bankers Q3 EPS $2.67 Beats $2.39 Estimate, Sales $561.037M Miss $565.553M Estimate
📈 PositiveRBC Capital Maintains Sector Perform on Cullen/Frost Bankers, Raises Price Target to $144
📈 PositiveEvercore ISI Group Maintains In-Line on Cullen/Frost Bankers, Raises Price Target to $137
📈 PositiveMorgan Stanley Maintains Underweight on Cullen/Frost Bankers, Raises Price Target to $136
➖ NeutralCantor Fitzgerald Initiates Coverage On Cullen/Frost Bankers with Neutral Rating, Announces Price Target of $138
➖ NeutralFrequently Asked Questions about CFR
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