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

Cullen/Frost Bankers (NYSE:CFR) released its earnings results on Thursday. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.08, Briefing.com reports. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The business had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. During the same quarter in the previous year, the business earned $2.38 earnings per share. Cullen/Frost Bankers’s revenue for the quarter 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 midday trading on Friday, hitting $125.98. 637,622 shares of the stock were exchanged, compared to its average volume of 451,567. Cullen/Frost Bankers has a 52-week low of $90.94 and a 52-week 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’s 50-day moving average price is $115.33 and its 200-day moving average price is $108.87. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00.

Cullen/Frost Bankers Dividend Announcement

The company 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. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is currently 46.34%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CFR shares. Royal Bank of Canada boosted their price objective on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday. DA Davidson raised their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Citigroup decreased their price target on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a research note on Monday, September 30th. Evercore ISI cut their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Maxim Group upped their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price 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.