Cullen/Frost Bankers, Inc. (NYSE:CFR) Raises Dividend to $1.03 Per Share

Cullen/Frost Bankers, Inc. (NYSE:CFR) announced a quarterly dividend on Thursday, April 30th. Stockholders of record on Friday, May 29th will be paid a dividend of 1.03 per share by the bank on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, May 29th. This is a 3.0% increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00.

Cullen/Frost Bankers has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 32 years. Cullen/Frost Bankers has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cullen/Frost Bankers to earn $10.60 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 37.7%.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $145.16 on Friday. The firm has a 50-day moving average of $138.96 and a 200-day moving average of $133.57. The company has a market cap of $9.14 billion, a P/E ratio of 14.63, a P/E/G ratio of 3.95 and a beta of 0.61. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.67 and a quick ratio of 0.67. Cullen/Frost Bankers has a one year low of $116.47 and a one year high of $148.97.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $587.29 million. During the same quarter last year, the company posted $2.30 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers will post 10.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of hedge funds have recently made changes to their positions in CFR. Root Financial Partners LLC bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth approximately $26,000. GoalVest Advisory LLC bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth approximately $28,000. Advisory Services Network LLC bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth approximately $28,000. Covestor Ltd lifted its holdings in shares of Cullen/Frost Bankers by 67.6% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Cullen/Frost Bankers by 252.1% in the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock worth $33,000 after acquiring an additional 184 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.