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.

TRADEMARK VIOLATION NOTICE: “Cullen/Frost Bankers, Inc. (CFR) To Go Ex-Dividend on August 29th” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/08/28/cullenfrost-bankers-inc-cfr-to-go-ex-dividend-on-august-29th.html.

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)

Receive News & Stock Ratings for Cullen/Frost Bankers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers Inc. and related stocks with our FREE daily email newsletter.