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

Cullen/Frost Bankers (NYSE:CFR) released its earnings results on Thursday. The bank reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02, Briefing.com reports. Cullen/Frost Bankers had a return on equity of 18.69% and a net margin of 26.26%. During the same period last year, the firm posted $2.70 earnings per share.

Cullen/Frost Bankers Stock Down 3.3 %

Shares of Cullen/Frost Bankers stock traded down $3.65 during midday trading on Friday, hitting $107.08. The company had a trading volume of 606,841 shares, compared to its average volume of 374,884. 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 stock has a market capitalization of $6.88 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.37 and a beta of 1.03. The company has a 50 day moving average of $109.17 and a 200 day moving average of $103.82. Cullen/Frost Bankers has a 52-week low of $82.25 and a 52-week high of $120.31.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.92 dividend. The ex-dividend date is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 3.44%. Cullen/Frost Bankers’s payout ratio is currently 43.50%.

Insider Buying and Selling

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 sale, the insider now directly 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 accessible through the SEC website. 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 sale, the insider now directly 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 accessible through the SEC website. Also, EVP Bobby Berman sold 1,312 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the sale, 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 company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on CFR. Truist Financial upped their price target on Cullen/Frost Bankers from $114.00 to $121.00 and gave the company a “hold” rating in a research report on Monday, April 1st. DA Davidson reaffirmed a “buy” rating and set a $126.00 price target on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Jefferies Financial Group upped their price target on Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a research report on Friday. Finally, Morgan Stanley upped their price target on Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $117.92.

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.