Cullen/Frost Bankers, Inc. (NYSE:CFR) Announces Quarterly Dividend of $0.95

Cullen/Frost Bankers, Inc. (NYSE:CFR) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Investors of record on Friday, November 29th will be given a dividend of 0.95 per share by the bank on Friday, December 13th. This represents a $3.80 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, November 29th.

Cullen/Frost Bankers has increased its dividend by an average of 7.9% annually over the last three years and has raised its dividend annually for the last 31 consecutive years. Cullen/Frost Bankers has a dividend payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cullen/Frost Bankers to earn $8.22 per share next year, which means the company should continue to be able to cover its $3.80 annual dividend with an expected future payout ratio of 46.2%.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $127.30 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 12-month low of $88.86 and a 12-month high of $135.00. The stock has a 50-day moving average price of $114.96 and a 200 day moving average price of $108.74. The stock has a market capitalization of $8.15 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.60 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.08. The business had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.38 EPS. Equities research analysts forecast that Cullen/Frost Bankers will post 8.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CFR shares. Stephens raised their price target on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Evercore ISI cut their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Wedbush lowered their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Royal Bank of Canada raised their price objective on Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Morgan Stanley lowered their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $121.31.

Cullen/Frost Bankers Company Profile

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.