Cullen/Frost Bankers (NYSE:CFR) Announces Quarterly Earnings Results

Cullen/Frost Bankers (NYSE:CFR) issued its earnings results on Thursday. The bank reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.70, MarketWatch Earnings reports. The business had revenue of $347.32 million during the quarter, compared to analysts’ expectations of $357.31 million. Cullen/Frost Bankers had a net margin of 27.84% and a return on equity of 7.38%. During the same period in the previous year, the company earned $1.72 earnings per share.

Shares of CFR stock traded down $1.54 during mid-day trading on Friday, hitting $72.06. The company had a trading volume of 1,295,144 shares, compared to its average volume of 372,494. Cullen/Frost Bankers has a 52-week low of $47.69 and a 52-week high of $99.42. The stock’s 50 day moving average price is $72.55 and its 200-day moving average price is $74.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $4.51 billion, a P/E ratio of 12.98, a P/E/G ratio of 3.22 and a beta of 1.66.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, August 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 41.52%.

CFR has been the subject of several research reports. Cfra decreased their price objective on shares of Cullen/Frost Bankers from $91.00 to $60.00 and set a “sell” rating for the company in a report on Monday, May 18th. Compass Point initiated coverage on shares of Cullen/Frost Bankers in a report on Tuesday, April 14th. They set a “neutral” rating for the company. Morgan Stanley boosted their price objective on shares of Cullen/Frost Bankers from $63.00 to $65.00 and gave the company an “underweight” rating in a report on Monday, June 8th. Maxim Group reissued a “buy” rating and set a $80.00 price objective on shares of Cullen/Frost Bankers in a report on Saturday, May 2nd. Finally, Wolfe Research started coverage on shares of Cullen/Frost Bankers in a research report on Friday. They set an “underperform” rating for the company. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $77.70.

In other Cullen/Frost Bankers news, Director Samuel G. Dawson purchased 1,306 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $76.16 per share, with a total value of $99,464.96. Following the completion of the purchase, the director now directly owns 5,606 shares in the company, valued at $426,952.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William L. Perotti sold 9,360 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $78.81, for a total transaction of $737,661.60. Following the sale, the executive vice president now directly owns 100,994 shares in the company, valued at approximately $7,959,337.14. The disclosure for this sale can be found here. 4.75% of the stock is currently owned by insiders.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the 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.

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Earnings History for Cullen/Frost Bankers (NYSE:CFR)

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