Cullen/Frost Bankers, Inc. (NYSE:CFR) to Issue Quarterly Dividend of $0.92

Cullen/Frost Bankers, Inc. (NYSE:CFR) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders 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 dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, May 30th.

Cullen/Frost Bankers has raised its dividend by an average of 7.9% annually over the last three years and has raised its dividend every year for the last 30 years. Cullen/Frost Bankers has a payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Research 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 $110.68 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 0.63. The business’s 50-day simple moving average is $109.20 and its 200 day simple moving average is $103.71. The firm has a market capitalization of $7.11 billion, a PE ratio of 12.16, a PEG ratio of 1.45 and a beta of 1.03. Cullen/Frost Bankers has a 52-week low of $82.25 and a 52-week high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, beating the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 19.66% and a net margin of 22.60%. During the same period in the prior year, the firm posted $2.70 earnings per share. As a group, sell-side analysts expect that Cullen/Frost Bankers will post 8.49 earnings per share for the current fiscal year.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul Bracher sold 9,820 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly 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 insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Evercore ISI lifted their price objective on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the company an “underperform” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods lowered their price objective on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, January 26th. Stephens boosted their price objective 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, Truist Financial boosted their price objective on shares of Cullen/Frost Bankers from $114.00 to $121.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $117.92.

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.