10:42 AM EST, 01/30/2025 (MT Newswires) -- (Updates with stock move in the headline, first paragraph, and details on a share repurchase program in the fifth paragraph.)

Cullen/Frost Bankers ( CFR ) shares rose about 3.4% in recent Thursday trading after the company reported Q4 earnings of $2.36 per diluted share, up from $1.55 a year earlier.

Analysts polled by FactSet expected $2.16.

Revenue for the quarter, expressed as the sum of net interest income and total noninterest income, was $536.3 million, up from $501.9 million a year earlier.

Analysts surveyed by FactSet expected $532 million.

The company said its board approved a new share repurchase program, allowing it to buy up to $150 million of Cullen/Frost common stock over the next year, until Jan. 28, 2026. Repurchases may be made in various ways, including open market purchases, private transactions, and block trades. Management will decide the timing and amount based on market conditions and other factors.

Price: 143.51, Change: +4.71, Percent Change: +3.39