Cullen/Frost Bankers, Inc. (CFR) To Go Ex-Dividend on May 29th

Cullen/Frost Bankers, Inc. (NYSE:CFR) declared a quarterly dividend on Thursday, April 30th. Investors of record on Friday, May 29th will be given a dividend of 1.03 per share by the bank on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, May 29th. This is a 3.0% increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00.

Cullen/Frost Bankers has increased its dividend payment 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 dividend payout ratio of 43.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cullen/Frost Bankers to earn $10.81 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 38.1%.

Cullen/Frost Bankers Stock Performance

CFR opened at $139.50 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a fifty day moving average price of $138.79 and a 200 day moving average price of $135.29. Cullen/Frost Bankers has a 1 year low of $119.00 and a 1 year high of $148.97. The stock has a market cap of $8.76 billion, a P/E ratio of 13.58, a P/E/G ratio of 3.55 and a beta of 0.58.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. The firm had revenue of $574.84 million during the quarter, compared to analysts’ expectations of $587.29 million. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. During the same period in the previous year, the business posted $2.30 EPS. Equities research analysts anticipate that Cullen/Frost Bankers will post 10.41 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on CFR shares. Barclays upped their price objective on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. DA Davidson upped their price objective on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Weiss Ratings raised shares of Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Loop Capital set a $160.00 target price on Cullen/Frost Bankers in a research note on Monday, February 2nd. Finally, Citigroup raised their target price on Cullen/Frost Bankers from $125.00 to $131.00 and gave the stock a “sell” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target of $148.73.

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.