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

Cullen/Frost Bankers (NYSE:CFR) posted its quarterly earnings results on Thursday. The bank reported $2.24 earnings per share for the quarter, topping 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 firm had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. During the same period last year, the firm posted $2.38 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis.

Cullen/Frost Bankers Trading Down 1.1 %

NYSE:CFR traded down $1.37 during trading hours on Friday, reaching $125.98. 637,622 shares of the stock were exchanged, compared to its average volume of 451,567. 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 company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.60 and a beta of 1.00. Cullen/Frost Bankers has a twelve month low of $90.94 and a twelve month high of $135.00. The business has a 50-day moving average of $115.33 and a two-hundred day moving average of $108.87.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is 46.34%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Evercore ISI decreased their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Morgan Stanley lowered their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research note on Monday, September 30th. Stephens upped their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup reduced their price target on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a report on Monday, September 30th. Finally, Wedbush dropped their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $123.31.

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.