Cullen/Frost Bankers, Inc. (NYSE:CFR) declared a quarterly dividend on Thursday, July 27th, RTT News reports. Investors of record on Thursday, August 31st will be paid a dividend of 0.57 per share by the bank on Friday, September 15th. This represents a $2.28 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Tuesday, August 29th.

Cullen/Frost Bankers has raised its dividend payment by an average of 2.8% annually over the last three years and has increased its dividend every year for the last 24 years. Cullen/Frost Bankers has a dividend payout ratio of 43.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cullen/Frost Bankers to earn $5.65 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 40.4%.

Cullen/Frost Bankers (NYSE:CFR) opened at 86.06 on Monday. The company’s 50-day moving average is $91.42 and its 200-day moving average is $91.71. Cullen/Frost Bankers has a one year low of $67.86 and a one year high of $99.20. The firm has a market cap of $5.53 billion, a PE ratio of 16.95 and a beta of 1.32.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.29. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. The firm had revenue of $295.87 million during the quarter, compared to analysts’ expectations of $316.40 million. During the same period in the prior year, the company earned $1.11 EPS. On average, analysts forecast that Cullen/Frost Bankers will post $5.26 earnings per share for the current fiscal year.

CFR has been the subject of a number of research reports. BidaskClub raised shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Morgan Stanley reissued an “equal weight” rating and issued a $93.00 price objective (up from $90.00) on shares of Cullen/Frost Bankers in a research report on Thursday, July 6th. Barclays PLC upped their price objective on shares of Cullen/Frost Bankers from $97.00 to $100.00 and gave the company an “equal weight” rating in a research report on Friday, July 28th. Citigroup Inc. cut shares of Cullen/Frost Bankers to an “underperform” rating in a research report on Thursday, August 10th. They noted that the move was a valuation call. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $95.33.

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About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.

Dividend History for Cullen/Frost Bankers (NYSE:CFR)

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