Cullen/Frost Bankers (NYSE:CFR) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Cullen/Frost Bankers (NYSE:CFR) released its quarterly earnings data on Thursday. The bank reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02, Briefing.com reports. Cullen/Frost Bankers had a return on equity of 19.66% and a net margin of 22.60%. During the same period in the prior year, the company earned $2.70 EPS.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock traded down $3.68 during midday trading on Friday, hitting $107.05. The company had a trading volume of 606,841 shares, compared to its average volume of 422,555. Cullen/Frost Bankers has a 1-year low of $82.25 and a 1-year high of $120.31. The business’s 50 day simple moving average is $109.20 and its two-hundred day simple moving average is $103.71. The stock has a market cap of $6.87 billion, a PE ratio of 12.04, a P/E/G ratio of 1.45 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.63 and a quick ratio of 0.63.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Thursday, May 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.44%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 40.44%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. DA Davidson restated a “buy” rating and set a $126.00 price target on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. JPMorgan Chase & Co. increased their target price on shares of Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods reduced their price target on Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. UBS Group increased their price objective on Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $118.00 target price on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average price target of $117.92.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the completion of the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the completion of the transaction, the insider now owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the sale, the executive vice president now owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

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.