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

Cullen/Frost Bankers, Inc. (NYSE:CFR) declared a quarterly dividend on Saturday, January 25th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, February 28th.

Cullen/Frost Bankers has raised its dividend by an average of 8.4% per year over the last three years and has increased its dividend every year for the last 31 years. Cullen/Frost Bankers has a payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.0 %

Shares of NYSE:CFR traded up $0.02 during trading on Wednesday, reaching $136.68. The stock had a trading volume of 29,671 shares, compared to its average volume of 439,800. Cullen/Frost Bankers has a 52 week low of $94.09 and a 52 week high of $147.64. The firm’s fifty day moving average is $138.38 and its 200 day moving average is $128.36. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 6.46 and a beta of 0.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.68 and a current ratio of 0.68.

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

Insider Buying and Selling

In related news, insider Paul Bracher sold 11,500 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the transaction, the insider now owns 102,946 shares of the company’s stock, valued at $14,355,819.70. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CFR has been the subject of several recent analyst reports. Compass Point raised their target price on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI raised their price objective on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods boosted their target price on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. DA Davidson cut shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and raised their price target for the stock from $138.00 to $143.00 in a report on Monday, February 3rd. Finally, Citigroup lifted their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $132.54.

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.