Cullen/Frost Bankers, Inc. (NYSE:CFR) Shareholders to Get $1.03 Quarterly Dividend

Cullen/Frost Bankers, Inc. (NYSE:CFR) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Monday, November 30th will be paid a dividend of $1.03 per share by the bank on Tuesday, December 15th. This represents a $4.12 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, November 30th.

Cullen/Frost Bankers has raised its dividend by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 32 consecutive years. Cullen/Frost Bankers has a payout ratio of 43.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cullen/Frost Bankers to earn $11.66 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 35.3%.

Cullen/Frost Bankers Trading Up 0.5%

CFR stock traded up $0.75 during midday trading on Thursday, reaching $157.76. The company’s stock had a trading volume of 621,866 shares, compared to its average volume of 548,955. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a fifty day simple moving average of $158.08 and a two-hundred day simple moving average of $148.61. Cullen/Frost Bankers has a 1 year low of $119.14 and a 1 year high of $170.80. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.83 and a beta of 0.56.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 29th. The bank reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $603.83 million during the quarter, compared to the consensus estimate of $610.19 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%. During the same period last year, the company earned $2.67 earnings per share. On average, equities research analysts predict that Cullen/Frost Bankers will post 10.94 EPS for the current year.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds have recently modified their holdings of the business. EFG International AG bought a new position in Cullen/Frost Bankers in the second quarter worth approximately $5,906,000. Squarepoint Ops LLC lifted its holdings in Cullen/Frost Bankers by 327.0% during the second quarter. Squarepoint Ops LLC now owns 34,023 shares of the bank’s stock worth $5,257,000 after buying an additional 26,055 shares during the period. First Eagle Investment Management LLC boosted its position in Cullen/Frost Bankers by 22.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank’s stock valued at $429,204,000 after acquiring an additional 511,784 shares in the last quarter. State Street Corp boosted its position in Cullen/Frost Bankers by 3.8% during the 2nd quarter. State Street Corp now owns 3,218,249 shares of the bank’s stock valued at $497,292,000 after acquiring an additional 118,313 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Cullen/Frost Bankers during the 2nd quarter valued at $7,345,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers personal and commercial deposit accounts, loans, mortgages, treasury management, payments and other business banking services. The company also provides wealth management, trust and investment services, brokerage services and insurance solutions through its related businesses.

Frost traces its history to 1868, when Thomas Claiborne Frost founded the bank in San Antonio.