Cullen/Frost Bankers (NYSE:CFR) Releases Earnings Results, Beats Expectations By $0.08 EPS

Cullen/Frost Bankers (NYSE:CFR) announced its quarterly earnings data on Thursday. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.08, Briefing.com reports. Cullen/Frost Bankers had a net margin of 23.98% and a return on equity of 16.34%. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same quarter in the prior year, the firm posted $2.38 earnings per share. Cullen/Frost Bankers’s quarterly revenue was up 5.4% on a year-over-year basis.

Cullen/Frost Bankers Stock Down 1.1 %

Cullen/Frost Bankers stock traded down $1.37 during mid-day trading on Friday, hitting $125.98. The company had a trading volume of 637,622 shares, compared to its average volume of 536,240. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.56 and a beta of 0.98. Cullen/Frost Bankers has a 1 year low of $90.94 and a 1 year high of $135.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average of $115.61 and a 200 day moving average of $109.00.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 3.02%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a report on Monday, September 30th. Truist Financial dropped their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a report on Friday, September 20th. Evercore ISI lowered their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, October 2nd. Maxim Group increased their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday. Finally, DA Davidson increased their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.31.

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.