Cullen/Frost Bankers, Inc. (NYSE:CFR) Plans $0.92 Quarterly Dividend

Cullen/Frost Bankers, Inc. (NYSE:CFR) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.92 per share by the bank on Friday, June 14th. This represents a $3.68 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, May 30th.

Cullen/Frost Bankers has raised its dividend payment by an average of 7.9% annually over the last three years and has increased its dividend every year for the last 30 years. Cullen/Frost Bankers has a dividend payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cullen/Frost Bankers to earn $8.49 per share next year, which means the company should continue to be able to cover its $3.68 annual dividend with an expected future payout ratio of 43.3%.

Cullen/Frost Bankers Trading Down 5.3 %

CFR opened at $110.68 on Friday. The firm has a market capitalization of $7.11 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.45 and a beta of 1.03. The firm’s 50 day moving average is $109.17 and its 200-day moving average is $103.66. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 52-week low of $82.25 and a 52-week high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.17. The firm had revenue of $523.66 million for the quarter, compared to analyst estimates of $498.09 million. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. Analysts expect that Cullen/Frost Bankers will post 8.49 EPS for the current fiscal year.

Insider Activity

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CFR. Stephens raised their price objective on Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. JPMorgan Chase & Co. upped their target price on shares of Cullen/Frost Bankers from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. UBS Group lifted 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. DA Davidson reaffirmed a “buy” rating and issued a $126.00 price objective on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Finally, Compass Point downgraded shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus target price 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.