NYSE$CFR
Cullen/Frost Bankers Inc. · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Cullen/Frost Bankers reported fourth quarter results for 2023, impacted by a one-time surcharge expense associated with FDIC insurance, but aided by continued success with their organic expansion strategy in key growth markets in Texas.
Cullen/Frost Bankers reported a decrease in net income available to common shareholders for the fourth quarter of 2023 compared to the fourth quarter of 2022, impacted by a one-time FDIC insurance surcharge. However, the company's earnings were aided by their organic expansion strategy in key growth markets in Texas.
- Net income available to common shareholders for Q4 2023 was $100.9 million, impacted by a $51.5 million one-time FDIC surcharge expense.
- Excluding the FDIC surcharge, net income available to common shareholders for Q4 2023 would have been approximately $141.6 million, a 25.3 percent decrease compared to Q4 2022.
- EPS for Q4 2023 was $1.55 per diluted common share, or $2.18 excluding the after-tax impact of the FDIC surcharge, representing a 25.1 percent decrease from Q4 2022.
- The board of directors approved a new share repurchase program with authorization to purchase up to $150 million of Cullen/Frost common stock over a one-year period.
Headline financials
Revenue & EPS history
Cullen/Frost Bankers · Revenue · Quarterly
$502M
Revenue by segment
Cullen/Frost Bankers · $78.2M total across 4 segments · Q4 2022
- Trust & Investment Mgmt$39.7M+3.3%50.8%
- Deposit Service Charges$22.3M+0.4%28.6%
- Insurance Commissions$11.7M-0.3%14.9%
- Interchange Fees$4.48M+5.7%5.7%
Forward guidance
Cullen/Frost Bankers, Inc. will host a conference call on Thursday, January 25, 2024, at 1:00 p.m. Central Time (CT) to discuss the results for the quarter and the year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.7%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+1.2%
Avg return
30 days after
62%
42 / 68 earnings
Positive
+10.7%
Q4 2015
Best reaction
-8.4%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.5% | -1.6% | -5.1% | |
| Q4 2025 | -0.3% | -0.1% | +8.6% | |
| Q3 2025 | +1.8% | +1.6% | +1.9% | |
| Q1 2025 | +3.3% | +5.1% | +9.0% | |
| Q4 2024 | +1.2% | -0.1% | -1.3% | |
| Q3 2024 | -3.4% | -2.2% | +7.8% | |
| Q2 2024 | +5.2% | +5.1% | -1.8% | |
| Q1 2024 | -8.4% | -10.7% | -12.4% | |
| Q4 2023 | -1.3% | +0.4% | -1.3% | |
| Q3 2023 | +7.2% | +8.8% | +18.3% | |
| Q2 2023 | -8.4% | -7.2% | -18.0% | |
| Q1 2023 | +6.6% | -1.5% | +1.7% | |
| Q4 2022 | -6.3% | -4.2% | -3.3% | |
| Q3 2022 | +9.4% | +10.3% | +4.2% | |
| Q2 2022 | +1.1% | +0.5% | +1.9% | |
| Q1 2022 | -1.0% | -0.4% | -6.1% | |
| Q4 2021 | +7.5% | +8.9% | +7.3% | |
| Q3 2021 | +1.4% | +6.7% | +2.0% | |
| Q2 2021 | +0.6% | +3.4% | +8.9% | |
| Q1 2021 | +1.8% | +5.1% | +2.4% | |
| Q4 2020 | -4.5% | -3.0% | +8.1% | |
| Q3 2020 | +5.5% | +12.5% | +30.8% | |
| Q2 2020 | -4.6% | -5.2% | -6.1% | |
| Q1 2020 | -7.6% | -10.0% | +2.9% | |
| Q4 2019 | -3.0% | +0.4% | -14.7% | |
| Q3 2019 | -2.3% | +2.1% | +0.4% | |
| Q2 2019 | -0.4% | -0.8% | -14.5% | |
| Q1 2019 | -2.6% | -1.0% | -6.0% | |
| Q4 2018 | -0.8% | +0.6% | +5.1% | |
| Q3 2018 | +1.5% | +5.9% | +7.0% | |
| Q2 2018 | -1.9% | -3.0% | -1.0% | |
| Q1 2018 | +6.0% | +5.8% | +6.5% | |
| Q4 2017 | +3.9% | +4.2% | +4.2% | |
| Q3 2017 | +1.9% | -1.0% | -4.6% | |
| Q2 2017 | -5.1% | -5.9% | -10.8% | |
| Q1 2017 | +3.0% | +2.3% | -0.2% | |
| Q4 2016 | +3.8% | -0.6% | +2.6% | |
| Q3 2016 | -0.1% | -0.1% | +9.1% | |
| Q2 2016 | -0.9% | -5.1% | +3.4% | |
| Q1 2016 | +1.4% | — | — | |
| Q4 2015 | +10.7% | — | — | |
| Q3 2015 | +7.5% | — | — | |
| Q2 2015 | +1.1% | — | — | |
| Q1 2015 | +3.2% | — | — | |
| Q4 2014 | -1.9% | — | — | |
| Q3 2014 | +1.5% | — | — | |
| Q2 2014 | +0.0% | — | — | |
| Q1 2014 | +0.3% | — | — | |
| Q4 2013 | +1.8% | — | — | |
| Q3 2013 | -0.8% | — | — | |
| Q2 2013 | -1.7% | — | — | |
| Q1 2013 | -2.6% | — | — | |
| Q4 2012 | +0.5% | — | — | |
| Q3 2012 | +1.9% | — | — | |
| Q2 2012 | -1.3% | — | — | |
| Q1 2012 | +0.8% | — | — | |
| Q4 2011 | +0.4% | — | — | |
| Q3 2011 | +5.2% | — | — | |
| Q2 2011 | -2.1% | — | — | |
| Q1 2010 | -2.1% | — | — | |
| Q1 2011 | +2.2% | — | — | |
| Q4 2009 | +0.5% | — | — | |
| Q4 2010 | +0.5% | — | — | |
| Q4 2008 | +0.5% | — | — | |
| Q3 2009 | +0.7% | — | — | |
| Q3 2010 | +0.7% | — | — | |
| Q2 2010 | +3.9% | — | — | |
| Q2 2009 | +3.9% | — | — |
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