Cullen/Frost Bankers, Inc. (CFR) To Go Ex-Dividend on May 31st

Cullen/Frost Bankers, Inc. (NYSE:CFR) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Friday, May 31st will be given a dividend of 0.92 per share by the bank on Friday, June 14th. This represents a $3.68 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Friday, May 31st.

Cullen/Frost Bankers has raised its dividend payment by an average of 7.9% annually over the last three years and has increased its dividend every year for the last 30 years. Cullen/Frost Bankers has a payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cullen/Frost Bankers to earn $8.49 per share next year, which means the company should continue to be able to cover its $3.68 annual dividend with an expected future payout ratio of 43.3%.

Cullen/Frost Bankers Stock Performance

CFR opened at $107.05 on Friday. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.37 and a beta of 1.03. The company has a fifty day moving average of $109.20 and a 200 day moving average of $103.71. Cullen/Frost Bankers has a fifty-two week low of $82.25 and a fifty-two week high of $120.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 0.63.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 26.26% and a return on equity of 18.69%. During the same period in the previous year, the company posted $2.70 earnings per share. As a group, sell-side analysts forecast that Cullen/Frost Bankers will post 8.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. DA Davidson reissued a “buy” rating and issued a $126.00 price objective on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Jefferies Financial Group lifted their price target on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Stephens lifted their price target on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $117.92.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the sale, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Bobby Berman sold 1,312 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the sale, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by company insiders.

About Cullen/Frost Bankers

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.