Cullen/Frost Bankers, Inc. (NYSE:CFR) Plans Quarterly Dividend of $0.95

Cullen/Frost Bankers, Inc. (NYSE:CFR) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.95 per share by the bank on Friday, December 13th. This represents a $3.80 annualized dividend and a yield of 2.99%. The ex-dividend date is Friday, November 29th.

Cullen/Frost Bankers has increased 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 31 years. Cullen/Frost Bankers has a dividend payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cullen/Frost Bankers to earn $8.22 per share next year, which means the company should continue to be able to cover its $3.80 annual dividend with an expected future payout ratio of 46.2%.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $127.30 on Friday. The firm has a market capitalization of $8.15 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $114.96 and its two-hundred day moving average price is $108.74. Cullen/Frost Bankers has a 1 year low of $88.86 and a 1 year high of $135.00.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.08. The business had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. Cullen/Frost Bankers’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $2.38 EPS. As a group, research analysts anticipate that Cullen/Frost Bankers will post 8.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Maxim Group boosted their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a report on Friday. DA Davidson increased their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a report on Friday, July 26th. Evercore ISI decreased their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada boosted their price target on Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Stephens lifted their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $122.15.

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.