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

Cullen/Frost Bankers (NYSE:CFR) released its quarterly earnings results on Thursday. The bank reported $2.21 EPS for the quarter, topping 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 last year, the business earned $2.47 EPS.

Cullen/Frost Bankers Trading Up 1.7 %

NYSE CFR opened at $119.74 on Friday. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.47 and a beta of 1.03. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $123.17. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $102.68 and its 200 day moving average is $105.89.

Cullen/Frost Bankers Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CFR. Jefferies Financial Group lowered their target price on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Stephens raised their price objective on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Friday. Truist Financial cut their target price on 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. Maxim Group increased their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Friday. Finally, Evercore ISI cut their price objective on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $117.79.

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.