Cullen/Frost Bankers, Inc. (NYSE:CFR) Plans Quarterly Dividend of $1.03

Cullen/Frost Bankers, Inc. (NYSE:CFR) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Monday, August 31st will be given a dividend of 1.03 per share by the bank on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 31st.

Cullen/Frost Bankers has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 32 years. Cullen/Frost Bankers has a payout ratio of 43.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cullen/Frost Bankers to earn $10.90 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 37.8%.

Cullen/Frost Bankers Trading Down 1.8%

Shares of NYSE CFR traded down $3.08 on Thursday, reaching $163.85. 853,154 shares of the company traded hands, compared to its average volume of 573,781. Cullen/Frost Bankers has a fifty-two week low of $119.00 and a fifty-two week high of $169.09. The company has a 50 day moving average of $150.47 and a 200 day moving average of $143.26. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $10.29 billion, a PE ratio of 15.95, a P/E/G ratio of 2.98 and a beta of 0.54.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. The business had revenue of $608.65 million for the quarter, compared to analyst estimates of $589.72 million. During the same period in the prior year, the firm posted $2.39 EPS. On average, equities research analysts forecast that Cullen/Frost Bankers will post 10.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on CFR. Raymond James Financial reaffirmed a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. DA Davidson boosted their price objective on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Jefferies Financial Group upgraded Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $135.00 to $160.00 in a report on Monday, July 6th. Royal Bank Of Canada increased their target price on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Finally, Morgan Stanley lifted their target price on Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an “underweight” rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $152.42.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.