Cullen/Frost Bankers (NYSE:CFR) Posts Quarterly Earnings Results

Cullen/Frost Bankers (NYSE:CFR) posted its quarterly earnings results 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 last year, the company earned $2.70 earnings per share.

Cullen/Frost Bankers Price Performance

NYSE CFR traded down $3.68 on Friday, reaching $107.05. 606,841 shares of the company’s stock traded hands, compared to its average volume of 422,555. 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. Cullen/Frost Bankers has a 12 month low of $82.25 and a 12 month high of $120.31. The stock has a 50-day simple moving average of $109.20 and a 200 day simple moving average of $103.71. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Friday, May 31st. Cullen/Frost Bankers’s dividend payout ratio is currently 40.44%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were 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 directly owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 transaction of $138,402.88. Following the transaction, the executive vice president now directly owns 27,815 shares in the company, valued at approximately $2,934,204.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction that occurred 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 owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The disclosure for this sale can be found here. Company insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CFR. Stephens raised their price objective on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of Cullen/Frost Bankers in a report on Friday. Keefe, Bruyette & Woods decreased their price target on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. JPMorgan Chase & Co. increased their price objective on Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, UBS Group boosted their target price on Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $117.92.

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.