Cullen/Frost Bankers (NYSE:CFR - Get Free Report) posted its quarterly earnings data on Thursday. The bank reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.13, Zacks reports. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. The company had revenue of $560.42 million during the quarter, compared to analysts' expectations of $540.57 million. During the same period in the prior year, the firm earned $2.15 earnings per share.
Cullen/Frost Bankers Trading Down 1.3 %
Shares of CFR traded down $1.58 during trading hours on Monday, hitting $123.65. The company had a trading volume of 485,731 shares, compared to its average volume of 465,533. The firm has a market cap of $7.95 billion, a P/E ratio of 13.94, a P/E/G ratio of 6.46 and a beta of 0.67. Cullen/Frost Bankers has a 52-week low of $94.09 and a 52-week high of $147.64. 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 stock's 50 day moving average price is $119.60 and its 200 day moving average price is $131.11.
Cullen/Frost Bankers Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.23%. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Friday, May 30th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 41.71%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on CFR. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target for the company in a research note on Friday. DA Davidson downgraded Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and raised their price target for the company from $138.00 to $143.00 in a research note on Monday, February 3rd. Royal Bank of Canada dropped their price objective on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Friday. Keefe, Bruyette & Woods boosted 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. Finally, Stephens raised their target price on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research note on Friday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $132.14.
Read Our Latest Stock Analysis on CFR
Insiders Place Their Bets
In related news, CAO Matthew Bradley Henson bought 1,870 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were purchased at an average cost of $16.93 per share, with a total value of $31,659.10. Following the completion of the purchase, the chief accounting officer now owns 5,545 shares in the company, valued at approximately $93,876.85. The trade was a 50.88 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.89% of the company's stock.
About Cullen/Frost Bankers
(
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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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