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

Cullen/Frost Bankers (NYSE:CFR) announced its quarterly earnings data on Thursday. The bank reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.02, Briefing.com reports. Cullen/Frost Bankers had a net margin of 26.26% and a return on equity of 18.69%. During the same quarter in the prior year, the business earned $2.70 EPS.

Cullen/Frost Bankers Stock Down 3.3 %

NYSE CFR traded down $3.65 during trading hours on Friday, reaching $107.08. 606,841 shares of the company traded hands, compared to its average volume of 374,884. Cullen/Frost Bankers has a 12 month low of $82.25 and a 12 month high of $120.31. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $6.88 billion, a PE ratio of 12.65, a PEG ratio of 1.37 and a beta of 1.03. The company has a 50 day moving average of $109.17 and a two-hundred day moving average of $103.82.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a yield of 3.44%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 43.50%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. DA Davidson reissued a “buy” rating and set a $126.00 price objective on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Truist Financial upped their price target on shares of Cullen/Frost Bankers from $114.00 to $121.00 and gave the stock a “hold” rating in a research report on Monday, April 1st. Compass Point lowered shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Finally, UBS Group upped their price target on shares of 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 research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $117.92.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction dated 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 directly owns 96,380 shares in the company, valued at approximately $10,543,972. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction dated 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 directly owns 96,380 shares in the company, valued at approximately $10,543,972. The transaction was disclosed in a legal filing 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 dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares in the company, valued at $2,934,204.35. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

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.