Cullen/Frost Bankers, Inc. operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services. It also provides consumer banking services, such as checking accounts, savings programs, automated-teller machines (ATMs), overdraft facilities, installment and real estate loans, home equity loans and lines of credit, drive-in and night deposit services, safe deposit facilities, and brokerage services. In addition, the company offers international banking services comprising deposits, loans, letters of credit, foreign collections, funds, and foreign exchange services. Further, it acts as a correspondent for approximately 176 financial institutions; offers trust, investment, agency, and custodial services for individual and corporate clients; provides capital market services that include sales and trading, new issue underwriting, money market trading, advisory, and securities safekeeping and clearance; and supports international business activities. Additionally, the company offers insurance and securities brokerage services; holds securities for investment purposes; and provides loans to qualified borrowers, as well as investment management services to Frost-managed mutual funds, institutions, and individuals. It operates approximately 155 financial centers and 1,200 ATMs. The company serves energy, manufacturing, services, construction, retail, telecommunications, health care, military, and transportation industries. Cullen/Frost Bankers, Inc. was founded in 1868 and is headquartered in San Antonio, Texas.
IPO Year:
Exchange: NYSE
Website: frostbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/1/2024 | $138.00 → $149.00 | Buy | Maxim Group |
| 8/5/2024 | $112.00 → $121.00 | Equal-Weight → Underweight | Morgan Stanley |
| 7/26/2024 | $132.00 → $138.00 | Buy | Maxim Group |
| 1/8/2024 | Buy → Neutral | Compass Point | |
| 1/3/2024 | $98.00 → $111.00 | In-line → Underperform | Evercore ISI |
| 12/1/2023 | $94.00 | Sell | Citigroup |
| 8/25/2023 | $97.00 → $100.00 | Sell → Neutral | UBS |
| 5/16/2023 | $127.00 → $121.00 | Overweight → Equal-Weight | Morgan Stanley |
| 3/15/2023 | $107.00 | Sell | UBS |
| 2/21/2023 | Outperform → Mkt Perform | Raymond James |
4 - CULLEN/FROST BANKERS, INC. (0000039263) (Issuer)
4 - CULLEN/FROST BANKERS, INC. (0000039263) (Issuer)
4 - CULLEN/FROST BANKERS, INC. (0000039263) (Issuer)
4 - CULLEN/FROST BANKERS, INC. (0000039263) (Issuer)
4 - CULLEN/FROST BANKERS, INC. (0000039263) (Issuer)
4 - CULLEN/FROST BANKERS, INC. (0000039263) (Issuer)
4 - CULLEN/FROST BANKERS, INC. (0000039263) (Issuer)
4 - CULLEN/FROST BANKERS, INC. (0000039263) (Issuer)
4 - CULLEN/FROST BANKERS, INC. (0000039263) (Issuer)
4 - CULLEN/FROST BANKERS, INC. (0000039263) (Issuer)
Maxim Group reiterated coverage of Cullen/Frost with a rating of Buy and set a new price target of $149.00 from $138.00 previously
Morgan Stanley downgraded Cullen/Frost from Equal-Weight to Underweight and set a new price target of $121.00 from $112.00 previously
Maxim Group reiterated coverage of Cullen/Frost with a rating of Buy and set a new price target of $138.00 from $132.00 previously
Compass Point downgraded Cullen/Frost from Buy to Neutral
Evercore ISI downgraded Cullen/Frost from In-line to Underperform and set a new price target of $111.00 from $98.00 previously
Citigroup initiated coverage of Cullen/Frost with a rating of Sell and set a new price target of $94.00
UBS upgraded Cullen/Frost from Sell to Neutral and set a new price target of $100.00 from $97.00 previously
Morgan Stanley downgraded Cullen/Frost from Overweight to Equal-Weight and set a new price target of $121.00 from $127.00 previously
UBS initiated coverage of Cullen/Frost with a rating of Sell and set a new price target of $107.00
Raymond James downgraded Cullen/Frost from Outperform to Mkt Perform
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Board declares fourth quarter dividend on common and preferred stock SAN ANTONIO, Oct. 31, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported third quarter 2024 results. Net income available to common shareholders for the third quarter of 2024 was $144.8 million compared to $154.0 million for the third quarter of 2023. On a per-share basis, net income available to common shareholders for the third quarter of 2024 was $2.24 per diluted common share, compared to $2.38 per diluted common share reported a year earlier. Returns on average assets and average common equity were 1.16 percent and 15.48 percent, respectively, for the third quarter of 2024 compared to 1.25 percen
SAN ANTONIO, Oct. 4, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on Thursday, October 31, 2024 to discuss third quarter 2024 earnings. Earnings Release: The earnings release for Cullen/Frost Bankers, Inc. will be available at approximately 8:00 a.m. Central Time (CT) on the internet at https://investor.frostbank.com/. Conference Call and Live Webcast: The conference call will begin at 1:00 p.m. CT (2:00 p.m. Eastern) and will be hosted by Phil Green, Chairman and CEO, Jerry Salinas, Group Executive Vice President and CFO and A.B. Mendez, Senior Vice President and Director of Investor Relations. Following the prepared remarks there will be a question
FORT WORTH, Texas, Sept. 18, 2024 /PRNewswire/ -- Frost has engaged Valor and its mineral management software, mineral.tech®, to support its mineral asset management clients. This proprietary software provides clients with more visibility and transparency in managing their mineral assets. The software digitally maps all interests, digitizes and organizes historical paperwork, tracks revenue and produces reports containing analytics for accounting and auditing needs. Frost has integrated Valor's state-of-the-art mineral management platform, mineral.tech®, to enhance services offered to its mineral asset management clients. By using mineral.tech®, Frost will be able to provide its clients wi
Board increases quarterly common dividend by 3.3 percent to $0.95 SAN ANTONIO, July 25, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported second quarter 2024 results. Net income available to common shareholders for the second quarter of 2024 was $143.8 million compared to $160.4 million for the second quarter of 2023. On a per-share basis, net income available to common shareholders for the second quarter of 2024 was $2.21 per diluted common share, compared to $2.47 per diluted common share reported a year earlier. Returns on average assets and average common equity were 1.18 percent and 17.08 percent, respectively, for the second quarter of 2024 compared to 1.30 perc
SAN ANTONIO, July 8, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on Thursday, July 25, 2024 to discuss second quarter 2024 earnings. Earnings Release: The earnings release for Cullen/Frost Bankers, Inc. will be available at approximately 8:00 a.m. Central Time (CT) on the internet at https://investor.frostbank.com/. Conference Call and Live Webcast: The conference call will begin at 1:00 p.m. CT (2:00 p.m. Eastern) and will be hosted by Phil Green, Chairman and CEO, Jerry Salinas, Group Executive Vice President and CFO and A.B. Mendez, Senior Vice President and Director of Investor Relations. Following the prepared remarks there will be a question
SAN ANTONIO, July 1, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) announced today that Jerry Salinas, group executive vice president & chief financial officer of Cullen/Frost and Frost Bank, has decided to retire at the end of 2024. Salinas has worked at Frost since 1986 in several positions, including being named bank and corporate controller in 1989 and treasurer in 1997. He became senior executive vice president and treasurer in 2001 and was named to his current position in 2015. "If you think of any major initiative that the company has undertaken in the past four decades –acquisitions, major transactions, our expansion projects – Jerry played an important role in all of th
Board declares second quarter dividend on common and preferred stock SAN ANTONIO, April 25, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported first quarter 2024 results. Net income available to common shareholders for the first quarter of 2024 was $134.0 million, and was impacted by a $7.7 million ($6.1 million after tax) addition to the estimated FDIC special assessment. Excluding this item in the first quarter, net income available to common shareholders would have been approximately $140.1 million, representing a 20.4 percent decrease compared to the first quarter of 2023. On a per-share basis, net income available to common shareholders for the first quarter of 20
Atomic is excited to announce its collaboration with San Antonio-based Frost Bank, a top 50 financial institution with 185 branch locations across Texas. Incorporating Atomic into its operations will help Frost achieve its goals of improving customer satisfaction and making banking more accessible for all. Frost will be using Atomic's solution for direct deposit switching to provide their customers with a seamless experience that fits with the bank's focus on tech. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240423366537/en/Frost Bank Improves Customer Experience with Atomic Direct Deposit Switch. (Photo: Business Wire) "At F
SAN ANTONIO, April 4, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on Thursday, April 25, 2024 to discuss first quarter 2024 earnings. Earnings Release: The earnings release for Cullen/Frost Bankers, Inc. will be available at approximately 8:00 a.m. Central Time (CT) on the internet at https://investor.frostbank.com/. Conference Call and Live Webcast: The conference call will begin at 1:00 p.m. CT (2:00 p.m. Eastern) and will be hosted by Phil Green, Chairman and CEO, Jerry Salinas, Group Executive Vice President and CFO and A.B. Mendez, Senior Vice President and Director of Investor Relations. Following the prepared remarks there will be a question
SAN ANTONIO, March 28, 2024 /PRNewswire/ -- For the 15th consecutive year, Frost Bank received the highest ranking for banking customer satisfaction in Texas, according to the J.D. Power 2024 U.S. Retail Banking Satisfaction StudySM. The study ranked banks doing business in Texas, including regional and large banks. With an overall satisfaction index score of 753 – 99 points higher than the Texas region average – Frost ranked highest in customer satisfaction among all retail banks in Texas. In addition to the top overall ranking, Frost ranked No. 1 in all seven dimensions in t
Board declares fourth quarter dividend on common and preferred stock SAN ANTONIO, Oct. 31, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported third quarter 2024 results. Net income available to common shareholders for the third quarter of 2024 was $144.8 million compared to $154.0 million for the third quarter of 2023. On a per-share basis, net income available to common shareholders for the third quarter of 2024 was $2.24 per diluted common share, compared to $2.38 per diluted common share reported a year earlier. Returns on average assets and average common equity were 1.16 percent and 15.48 percent, respectively, for the third quarter of 2024 compared to 1.25 percen
SAN ANTONIO, Oct. 4, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on Thursday, October 31, 2024 to discuss third quarter 2024 earnings. Earnings Release: The earnings release for Cullen/Frost Bankers, Inc. will be available at approximately 8:00 a.m. Central Time (CT) on the internet at https://investor.frostbank.com/. Conference Call and Live Webcast: The conference call will begin at 1:00 p.m. CT (2:00 p.m. Eastern) and will be hosted by Phil Green, Chairman and CEO, Jerry Salinas, Group Executive Vice President and CFO and A.B. Mendez, Senior Vice President and Director of Investor Relations. Following the prepared remarks there will be a question
Board increases quarterly common dividend by 3.3 percent to $0.95 SAN ANTONIO, July 25, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported second quarter 2024 results. Net income available to common shareholders for the second quarter of 2024 was $143.8 million compared to $160.4 million for the second quarter of 2023. On a per-share basis, net income available to common shareholders for the second quarter of 2024 was $2.21 per diluted common share, compared to $2.47 per diluted common share reported a year earlier. Returns on average assets and average common equity were 1.18 percent and 17.08 percent, respectively, for the second quarter of 2024 compared to 1.30 perc
SAN ANTONIO, July 8, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on Thursday, July 25, 2024 to discuss second quarter 2024 earnings. Earnings Release: The earnings release for Cullen/Frost Bankers, Inc. will be available at approximately 8:00 a.m. Central Time (CT) on the internet at https://investor.frostbank.com/. Conference Call and Live Webcast: The conference call will begin at 1:00 p.m. CT (2:00 p.m. Eastern) and will be hosted by Phil Green, Chairman and CEO, Jerry Salinas, Group Executive Vice President and CFO and A.B. Mendez, Senior Vice President and Director of Investor Relations. Following the prepared remarks there will be a question
Board declares second quarter dividend on common and preferred stock SAN ANTONIO, April 25, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported first quarter 2024 results. Net income available to common shareholders for the first quarter of 2024 was $134.0 million, and was impacted by a $7.7 million ($6.1 million after tax) addition to the estimated FDIC special assessment. Excluding this item in the first quarter, net income available to common shareholders would have been approximately $140.1 million, representing a 20.4 percent decrease compared to the first quarter of 2023. On a per-share basis, net income available to common shareholders for the first quarter of 20
SAN ANTONIO, April 4, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on Thursday, April 25, 2024 to discuss first quarter 2024 earnings. Earnings Release: The earnings release for Cullen/Frost Bankers, Inc. will be available at approximately 8:00 a.m. Central Time (CT) on the internet at https://investor.frostbank.com/. Conference Call and Live Webcast: The conference call will begin at 1:00 p.m. CT (2:00 p.m. Eastern) and will be hosted by Phil Green, Chairman and CEO, Jerry Salinas, Group Executive Vice President and CFO and A.B. Mendez, Senior Vice President and Director of Investor Relations. Following the prepared remarks there will be a question
Board declares first quarter dividend on common and preferred stock, and authorizes $150 million stock repurchase program SAN ANTONIO, Jan. 25, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported fourth quarter and full-year results for 2023. Net income available to common shareholders for the fourth quarter of 2023 was $100.9 million, and was impacted by a $51.5 million ($40.7 million net of tax) one-time surcharge expense associated with FDIC insurance. Excluding this one-time item, net income available to common shareholders for the fourth quarter would have been approximately $141.6 million, representing a 25.3 percent decrease compared to the fourth quarter of 2022
SAN ANTONIO, Jan. 9, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) will host a conference call on Thursday, January 25, 2024 to discuss fourth quarter 2023 earnings. Earnings Release: The earnings release for Cullen/Frost Bankers, Inc. will be available at approximately 8:00 a.m. Central Time (CT) on the internet at https://investor.frostbank.com/. Conference Call and Live Webcast: The conference call will begin at 1:00 p.m. CT (2:00 p.m. Eastern) and will be hosted by Phil Green, Chairman and CEO, Jerry Salinas, Group Executive Vice President and CFO and A.B. Mendez, Senior Vice President and Director of Investor Relations. Following the prepared remarks there will be a questio
SAN ANTONIO, Oct. 5, 2023 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE: CFR) will host a conference call on Thursday, October 26, 2023 to discuss third quarter 2023 earnings. Earnings Release: The earnings release for Cullen/Frost Bankers, Inc. will be available at approximately 8:00 a.m. Central Time (CT) on the internet at https://investor.frostbank.com/. Conference Call and Live Webcast: The conference call will begin at 1:00 p.m. CT (2:00 p.m. Eastern) and will be hosted by Phil Green, Chairman and CEO, Jerry Salinas, Group Executive Vice President and CFO and A.B. Mendez, Senior Vice President and Director of Investor Relations. Following the prepared remarks there will be a questio
Board increases quarterly common dividend by 5.7 percent to $0.92 SAN ANTONIO, July 27, 2023 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported second quarter 2023 results. Net income available to common shareholders for the second quarter of 2023 was $160.4 million compared to $117.4 million in the second quarter of 2022. On a per-share basis, net income available to common shareholders for the second quarter of 2023 was $2.47 per diluted common share, compared to $1.81 per diluted common share reported a year earlier, representing a 36.5 percent increase. Returns on average assets and average common equity were 1.30 percent and 19.36 percent, respectively, for the second
SAN ANTONIO, July 1, 2024 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) announced today that Jerry Salinas, group executive vice president & chief financial officer of Cullen/Frost and Frost Bank, has decided to retire at the end of 2024. Salinas has worked at Frost since 1986 in several positions, including being named bank and corporate controller in 1989 and treasurer in 1997. He became senior executive vice president and treasurer in 2001 and was named to his current position in 2015. "If you think of any major initiative that the company has undertaken in the past four decades –acquisitions, major transactions, our expansion projects – Jerry played an important role in all of th
SAN ANTONIO, Aug. 9, 2021 /PRNewswire/ -- Frost Bank announced today the addition of C.E. Rhodes to its executive team as group executive vice president, general counsel and corporate secretary. Rhodes most recently was managing director and chief compliance officer at New Fortress Energy Inc. He started his legal career as a commercial litigator at the law firm of Haynes and Boone LLP. He later spent more than 11 years in the Legal Department at Baker Hughes, where he was a vice president and an associate general counsel for global operations. He also served as corporate sen
The Cullen/Frost board declared a third-quarter cash dividend of $0.95 per common share, representing a 3.3 percent increase compared to the previous quarterly dividend of $0.92 per share. The dividend on common stock is payable September 13, 2024 to shareholders of record on August 30 of this year.
RBC Capital analyst Jon Arfstrom maintains Cullen/Frost Bankers (NYSE:CFR) with a Sector Perform and raises the price target from $118 to $119.
Truist Securities analyst Brandon King maintains Cullen/Frost Bankers (NYSE:CFR) with a Hold and lowers the price target from $115 to $102.
Jefferies analyst Casey Haire maintains Cullen/Frost Bankers (NYSE:CFR) with a Hold and lowers the price target from $117 to $108.
Effective immediately, Frost's San Antonio Region President Dan Geddes will step down from his current position as he transitions to assume the role of chief financial officer on Jan. 1, 2025. Geddes will join Frost's executive leadership team in the interim.
JP Morgan analyst Steven Alexopoulos maintains Cullen/Frost Bankers (NYSE:CFR) with a Overweight and lowers the price target from $140 to $130.
Across the recent three months, 9 analysts have shared their insights on Cullen/Frost Bankers (NYSE:CFR), expressing a variety of opinions spanning from bullish to bearish. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 1 5 2 0 Last 30D 0 0 0 1 0 1M Ago 0 0 0 0 0 2M Ago 0 0 2 0 0 3M Ago 1 1 3 1 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $118.78, a high estimate of $140.00, and a low estimate of $100.00.
Evercore ISI Group analyst John Pancari maintains Cullen/Frost Bankers (NYSE:CFR) with a Underperform and lowers the price target from $109 to $100.
JPMorgan analyst Steven Alexopoulos has identified seven bank stocks poised for significant growth in the current market landscape. He’s referred to these picks as “our ‘Magnificent Seven'”. JPMorgan’s Magnificent Seven Bank Stock Picks Alexopoulos’ picks from among mid- and small-cap banks, and his views (summarized) on them are as follows: First Citizens BancShares Inc (Delaware) Class A (NASDAQ:FCNCA): Despite a challenging VC environment in 1Q24, First Citizens’ acquisition of SVB has stabilized deposit balances and increased new deposits, indicating potential growth in the future. The bank’s asset-sensitive balance sheet could benefit from potential Fed rate cuts, leading to s