Cullen/Frost Bankers (NYSE:CFR) Reports Quarterly Earnings, Beats Estimates of $0.20 per EPS


Cullen/Frost Bankers (NYSE:CFR) released its quarterly earnings data on Wednesday. The bank reported earnings per share of $1.54 for the quarter, beating Thomson Reuters consensus estimate of $1.34 by $0.20, MarketWatch Earnings reports. The company posted revenue of $349.76 million for the quarter, compared to $350.93 million expected by analysts. Cullen/Frost Bankers had a return on equity of 10.29% and a net margin of 31.19%. The company’s revenue increased 4.9% year over year. In the same quarter a year earlier, the company earned earnings per share of $1.38.

CFR shares traded at $4.52 on Friday, hitting $140.32. The stock had a trading volume of 658,680 shares, compared to an average trading volume of 451,020. The stock has a market capitalization of $8.94 billion, a P/E ratio of 21.26, a price ratio of / earnings growth of 2.55 and a beta of 1.41. The company has a debt ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a 50-day simple moving average of $131.15 and a 200-day simple moving average of $122.77. Cullen/Frost Bankers has a 1-year low of $91.23 and a 1-year high of $143.94.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 15. Shareholders of record on Monday, February 28 will receive a dividend of $0.75. The ex-dividend date is Friday, February 25. This represents a dividend of $3.00 on an annualized basis and a dividend yield of 2.14%. Cullen/Frost Bankers’ dividend payout ratio (DPR) is currently 45.45%.

In a similar vein, CFO Jerry Salinas sold 36,580 Cullen/Frost Bankers shares in a trade on Wednesday, November 10. The stock was sold at an average price of $134.88, for a total transaction of $4,933,910.40. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, CEO Phillip D. Green sold 77,575 Cullen/Frost Bankers shares in a trade on Tuesday, November 2. The shares were sold at an average price of $136.66, for a total value of $10,601,399.50. The disclosure of this sale can be found here. Insiders sold 121,656 shares of the company worth $16,543,214 during the last quarter. 4.50% of the shares are held by insiders of the company.

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An institutional investor recently bought a new position in shares of Cullen/Frost Bankers. OLD Mission Capital LLC purchased a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE: CFR) during the third quarter, according to its most recently filed Form 13F with the Securities & Exchange Commission. The company purchased 21,254 shares of the bank, valued at approximately $1,359,000. 82.51% of the shares are held by hedge funds and other institutional investors.

The CFR has been the subject of a number of analyst reports. Stephens raised his price target on Cullen/Frost Bankers from $120.00 to $134.00 and gave the company an “equal weight” rating in a Friday, October 29 research note. Royal Bank of Canada raised its price target on Cullen/Frost Bankers from $126.00 to $135.00 and gave the stock an “sector performance” rating in a Friday, October 29 report. Morgan Stanley raised its price target on Cullen/Frost Bankers from $100.00 to $108.00 and gave the company an “underweight” rating in a Monday, Dec. 6 report. Truist Financial raised its price target on Cullen/Frost Bankers from $117.00 to $130.00 and gave the company a “holding” rating in a Friday, October 1 report. They noted that the move was a review call. Finally, Maxim Group raised its price target on Cullen/Frost Bankers from $157.00 to $162.00 in a research report on Friday. Two equity research analysts rated the stock with a sell rating, three issued a hold rating, one assigned a buy rating and one assigned a strong buy rating to the company’s stock. . Based on MarketBeat data, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus price target of $132.71.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the banking holding company of Frost Bank, which provides commercial and consumer banking, as well as trust and investment management, mutual funds, investment banking , insurance, brokerage, leasing, asset-lending, cash management and item processing services.

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Earnings history for Cullen/Frost Bankers (NYSE:CFR)

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