Cullen/Frost Bankers (NYSE:CFR - Get Free Report) issued its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.13, Zacks reports. The firm had revenue of $560.42 million during the quarter, compared to analysts' expectations of $540.57 million. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. During the same period in the previous year, the firm posted $2.15 earnings per share.
Cullen/Frost Bankers Price Performance
CFR traded up $2.64 during trading on Thursday, reaching $125.23. The stock had a trading volume of 171,216 shares, compared to its average volume of 462,881. The stock has a 50 day moving average of $119.03 and a two-hundred day moving average of $130.99. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 6.46 and a beta of 0.67. Cullen/Frost Bankers has a 1-year low of $94.09 and a 1-year high of $147.64.
Cullen/Frost Bankers Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, May 30th. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.95. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.91%.
Analysts Set New Price Targets
Several research firms recently commented on CFR. Stephens boosted their price objective on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods raised their price target on Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. DA Davidson cut Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $138.00 to $143.00 in a research report on Monday, February 3rd. Barclays lifted their price target on shares of Cullen/Frost Bankers from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target on the stock in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of "Hold" and an average price target of $132.14.
Read Our Latest Stock Report on CFR
Insider Transactions at Cullen/Frost Bankers
In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson purchased 1,870 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were purchased at an average price of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the transaction, the chief accounting officer now owns 5,545 shares in the company, valued at $93,876.85. This represents a 50.88 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.89% of the company's stock.
Cullen/Frost Bankers Company Profile
(
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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.
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