Cullen/Frost Bankers, Inc. (NYSE:CFR) Plans Quarterly Dividend of $0.92

Cullen/Frost Bankers, Inc. (NYSE:CFR) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.92 per share by the bank on Friday, June 14th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, May 31st.

Cullen/Frost Bankers has increased its dividend by an average of 7.9% per year over the last three years and has increased its dividend annually for the last 30 consecutive years. Cullen/Frost Bankers has a payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cullen/Frost Bankers to earn $8.49 per share next year, which means the company should continue to be able to cover its $3.68 annual dividend with an expected future payout ratio of 43.3%.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $107.05 on Friday. The firm has a 50-day simple moving average of $109.20 and a 200-day simple moving average of $103.71. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 52 week low of $82.25 and a 52 week high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 26.26% and a return on equity of 18.69%. During the same period in the previous year, the business earned $2.70 earnings per share. On average, equities analysts predict that Cullen/Frost Bankers will post 8.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the sale, the executive vice president now owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the sale, the executive vice president now owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at $10,543,972. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CFR shares. Evercore ISI increased their target price on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the company an “underperform” rating in a research report on Thursday, March 28th. Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a report on Friday. Jefferies Financial Group upped their price objective on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a “hold” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods dropped their price objective on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Finally, DA Davidson reissued a “buy” rating and issued a $126.00 price objective on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $117.92.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.