Cullen/Frost Bankers (NYSE:CFR) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Cullen/Frost Bankers (NYSE:CFR) posted its earnings results on Thursday. The bank reported $2.15 earnings per share 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 quarter last year, the company earned $2.70 earnings per share.

Cullen/Frost Bankers Price Performance

CFR traded down $3.68 during midday trading on Friday, hitting $107.05. The company had a trading volume of 606,841 shares, compared to its average volume of 422,555. The company has a market capitalization of $6.87 billion, a PE ratio of 12.04, a P/E/G ratio of 1.45 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 0.63. The firm’s 50-day simple moving average is $109.20 and its 200-day simple moving average is $103.71. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $120.31.

Cullen/Frost Bankers Dividend Announcement

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

Analysts Set New Price Targets

CFR has been the subject of several recent research reports. Compass Point cut shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Evercore ISI lifted their price objective on Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an “underperform” rating in a research report on Thursday, March 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $118.00 price target on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their target price on Cullen/Frost Bankers from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Morgan Stanley upped their target price on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $117.92.

Insider Buying and Selling

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 sale, the insider now owns 96,380 shares in the company, valued at approximately $10,543,972. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the sale, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Bracher sold 9,820 shares of the firm’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 transaction of $1,074,308.00. Following the completion of the sale, the insider now owns 96,380 shares in the company, valued at $10,543,972. The disclosure for this sale can be found here. 2.89% of the stock is 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.