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

Cullen/Frost Bankers (NYSE:CFR) released its earnings results on Thursday. The bank reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.08, Briefing.com reports. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The firm had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same quarter in the previous year, the company posted $2.38 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year.

Cullen/Frost Bankers Price Performance

CFR stock traded down $1.37 during trading on Friday, hitting $125.98. The stock had a trading volume of 637,622 shares, compared to its average volume of 451,567. Cullen/Frost Bankers has a twelve month low of $90.94 and a twelve month high of $135.00. The company’s 50-day moving average price is $115.33 and its two-hundred day moving average price is $108.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $8.07 billion, a P/E ratio of 15.33, a PEG ratio of 1.60 and a beta of 1.00.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 3.02%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 46.34%.

Analyst Ratings Changes

CFR has been the subject of several research reports. Truist Financial decreased 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 research note on Friday, September 20th. Morgan Stanley lowered their price target on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. Wedbush cut their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Evercore ISI decreased their price objective 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. Finally, Stephens raised their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.