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

Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Investors 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 3.02%. The ex-dividend date of this dividend 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 annually for the last 31 consecutive years. Cullen/Frost Bankers has a dividend payout ratio of 45.3% meaning its dividend is sufficiently covered by earnings. 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

Shares of NYSE CFR traded down $1.38 during midday trading on Friday, hitting $125.97. 637,622 shares of the company's stock were exchanged, compared to its average volume of 451,567. Cullen/Frost Bankers has a 12 month low of $90.94 and a 12 month high of $135.00. The company's 50 day moving average price is $115.33 and its 200 day moving average price is $108.87. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $8.06 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating the consensus estimate of $2.16 by $0.08. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The firm had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. During the same period in the previous year, the company earned $2.38 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts predict that Cullen/Frost Bankers will post 8.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Evercore ISI lowered their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating on the stock in a research note on Wednesday, October 2nd. Morgan Stanley lowered their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating on the stock in a research report on Monday, September 30th. DA Davidson boosted their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Citigroup lowered their price target on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a "sell" rating on the stock in a research report on Monday, September 30th. Finally, Maxim Group boosted their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a "buy" rating in a report on Friday. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $123.31.

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.