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

Cullen/Frost Bankers, Inc. (NYSE:CFR) declared a quarterly dividend on Saturday, January 25th, Wall Street Journal reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.95 per share by the bank on Friday, March 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, February 28th.

Cullen/Frost Bankers has increased its dividend payment by an average of 8.4% per year over the last three years and has raised its dividend annually for the last 31 consecutive years. Cullen/Frost Bankers has a dividend payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cullen/Frost Bankers to earn $8.91 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 42.6%.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock opened at $137.75 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a fifty day moving average price of $138.38 and a two-hundred day moving average price of $128.36. Cullen/Frost Bankers has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. The company has a market cap of $8.85 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 6.46 and a beta of 0.99.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. Analysts expect that Cullen/Frost Bankers will post 8.85 EPS for the current year.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, insider Paul Bracher sold 11,500 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the completion of the transaction, the insider now directly owns 102,946 shares in the company, valued at $14,355,819.70. This represents a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

CFR has been the topic of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $144.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, January 31st. Keefe, Bruyette & Woods upped their price target on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Stephens boosted their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Compass Point boosted their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Evercore ISI boosted their target price on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $132.54.

Cullen/Frost Bankers Company Profile

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.