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

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

Cullen/Frost Bankers Stock Down 3.3 %

NYSE CFR traded down $3.68 on Friday, hitting $107.05. 606,841 shares of the stock traded hands, compared to its average volume of 422,555. 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 50-day moving average of $109.20 and a 200 day moving average of $103.71. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $120.31. The company has a market capitalization of $6.87 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.45 and a beta of 1.03.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 3.44%. The ex-dividend date is Thursday, May 30th. Cullen/Frost Bankers’s dividend payout ratio is currently 40.44%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley increased their price target on Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. UBS Group boosted their price target 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. Jefferies Financial Group increased their price objective on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $118.00 price objective on shares of Cullen/Frost Bankers in a research note on Tuesday, April 9th. Finally, DA Davidson restated a “buy” rating and issued a $126.00 target price on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Three 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. According to MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price of $117.92.

Insider Transactions at Cullen/Frost Bankers

In related news, 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 transaction of $138,402.88. Following the transaction, the executive vice president now directly owns 27,815 shares in the company, valued at $2,934,204.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 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 $10,543,972. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 directly owns 27,815 shares in the company, valued at approximately $2,934,204.35. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Company Profile

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.