Cullen/Frost Bankers (NYSE:CFR) Issues Earnings Results, Beats Estimates By $0.14 EPS

Cullen/Frost Bankers (NYSE:CFR) announced its quarterly earnings data on Thursday. The bank reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14, Briefing.com reports. Cullen/Frost Bankers had a net margin of 24.88% and a return on equity of 17.72%. During the same quarter in the prior year, the firm earned $2.47 EPS.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock traded up $2.03 on Friday, reaching $119.74. The stock had a trading volume of 596,326 shares, compared to its average volume of 659,032. The business’s 50-day moving average price is $102.68 and its two-hundred day moving average price is $105.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $123.17. The stock has a market cap of $7.69 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.47 and a beta of 1.03.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.17%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date is Friday, August 30th. Cullen/Frost Bankers’s payout ratio is presently 43.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CFR shares. StockNews.com raised shares of Cullen/Frost Bankers to a “sell” rating in a research report on Saturday, May 4th. Maxim Group boosted their price objective on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Friday. DA Davidson boosted their price objective on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial decreased their target price on shares of 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. Finally, Stephens boosted their target price on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Friday. 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 company 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.