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

Cullen/Frost Bankers (NYSE:CFR) released its quarterly earnings data on Thursday. The bank reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.14, Briefing.com reports. Cullen/Frost Bankers had a return on equity of 17.72% and a net margin of 24.88%. During the same quarter last year, the company earned $2.47 earnings per share.

Cullen/Frost Bankers Price Performance

Shares of CFR opened at $119.74 on Friday. The stock has a market cap of $7.69 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 1 year low of $82.25 and a 1 year high of $123.17. The stock’s 50-day moving average price is $102.68 and its two-hundred day moving average price is $105.89.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a yield of 3.17%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 44.92%.

Analyst Ratings Changes

CFR has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Evercore ISI lowered their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a research note on Tuesday, June 25th. Jefferies Financial Group lowered their target price on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Wedbush raised their target price on Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Truist Financial lowered their price objective on Cullen/Frost Bankers from $115.00 to $102.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $117.79.

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.