cullen/frost bankers inc (CFR:New York)
cullen/frost bankers inc (CFR) Snapshot
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Open
$63.94
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Previous Close
$64.04
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Day High
$64.34
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Day Low
$63.53
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52 Week High
05/20/13 - $64.92
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52 Week Low
11/28/12 - $53.37
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Market Cap
3.9B
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Average Volume 10 Days
406.1K
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EPS TTM
$3.77
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Shares Outstanding
60.0M
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EX-Date
05/29/13
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P/E TM
17.1x
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Dividend
$2.00
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Dividend Yield
2.99%
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Cullen/Frost Bankers, Inc. operates as the holding company for Frost Bank that offers commercial and consumer banking, and other financial products and services primarily in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, such as financing for industrial and commercial properties, as well as for interim construction; financing for equipment, inventories, and accounts receivable; acquisition financing; commercial leasing; and treasury management services. The company also offers consumer banking services, including checking accounts, savings programs, automated teller machines, overdraft facilities, installment and real estate loans, home equity loans and lines of credit, deposit services, safe deposit facilities, and brokerage services. In addition, it provides international banking services comprising accepting deposits, making loans, issuing letters of credit, handling foreign collections, transmitting funds, and dealing in foreign exchange. Further, the company operates as a correspondent for approximately 332 financial institutions; offers trust, investment, agency, and custodial services for individual and corporate clients; and provides capital markets services, such as sales and trading, new issue underwriting, money market trading, and securities safekeeping and clearance. It operates approximately 110 financial centers and 1,100 automated-teller machines in Texas. Additionally, the company, through its other subsidiaries, offers insurance brokerage services; brokerage services, as well as sale and purchase of securities; investment advisory and private equity services to middle market companies; and loans to qualified borrowers. It serves energy, manufacturing, services, construction, retail, telecommunications, healthcare, military, and transportation industries. The company was founded in 1868 and is headquartered in San Antonio, Texas.
cullen/frost bankers inc (CFR) Top Compensated Officers
cullen/frost bankers inc (CFR) Key Developments
Cullen/Frost Bankers, Inc. board of directors declared a second quarter cash dividend of $0.50 per common share, an increase from the previous dividend of $0.48 per common share. The dividend is payable June 14, 2013 to shareholders of record on May 31, 2013 of this year. The company's board of directors also declared an initial cash dividend of $0.4479167 per share of the noncumulative perpetual preferred stock, series A. The series A preferred stock dividend is payable on June 15, 2013, to shareholders of record on May 31, 2013.
Cullen/Frost Bankers, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income available to common shareholders was $55.1 million, or $0.91 per basic and diluted common share, compared to net income available to common shareholders of $61.0 million, or $0.99 per basic and diluted common share for the first quarter 2012. Return on average assets and return on average common equity were 1.01% and 9.47%, respectively, compared to 1.23% and 10.59% for the same period of 2012. Book value at end of quarter was $38.33 against $37.81 a year ago. Income before income taxes was $68.8 million compared to $78.5 million a year ago. Net interest income on a taxable-equivalent basis increased to $172.8 million, up 4.9% over the $164.7 million reported for the first quarter a year ago. The increase was driven primarily from an increase in the average volume of earning assets and was partly offset by a decrease in the net interest margin. Income before income taxes was $68.78 million against $78.55 million a year ago. Net charge-offs for the first quarter of 2013 were $16.9 million compared to $4.1 million for the first quarter of 2012.
Cullen/Frost Bankers, Inc.(NYSE:CFR.PRA) added to S&P Preferred Stock Index
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Industry Analysis
CFR
Industry Average
| Valuation | CFR | Industry Range |
| Price/Earnings | 17.1x |
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| Price/Sales | 4.4x |
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| Price/Book | 1.7x |
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| Price/Cash Flow | 16.6x |
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| TEV/Sales | NM | Not Meaningful |
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To contact CULLEN/FROST BANKERS INC, please visit www.frostbank.com. Company data is provided by Capital IQ. Please use this form to report any data issues.
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