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Cullen/Frost Bankers, Inc. logo

Cullen/Frost Bankers, Inc.

CFR

NYSEFinancial ServicesBanks - Regional

Open in GoAI

Previous close

$164.19

−$0.62 · -0.38%

Aug 21, 4:00 PM ET

CFR company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

47

Fair Value

Momentum

57

Neutral

Sentiment

45

Mixed

Risk resilience

87

Low Risk

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AI-generated, informational only, and not investment advice.

Company profile

Company website

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. It also provides consumer banking services, such as checking accounts, automated-teller machines (ATMs), overdraft facilities, installment and real estate loans, first mortgage 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 transmitting, and foreign exchange services; correspondent banking activities, including check clearing, transfer of funds, fixed income security services, and securities custody and clearance services. Further, it offers trust, investment, agency, and custodial services for individual and corporate clients; capital market services that include sales and trading, new issue underwriting, money market trading, advisory, and securities safekeeping and clearance; and support for international business activities, including foreign exchange, letters of credit, export-import financing, and other related activities. Additionally, the company offers insurance and securities brokerage services; holding of securities for investment purposes; and investment management services for mutual funds, institutions, and individuals. It serves energy, manufacturing, services, construction, retail, telecommunications, healthcare, military, and transportation industries. Cullen/Frost Bankers, Inc. was founded in 1868 and is headquartered in San Antonio, Texas.

Industry
Banks - Regional
Sector
Financial Services
Headquarters
US
CEO
Phillip D. Green
Listed since
Mar 17, 1980
Employees
6,008

Market position

Day range

Current $164.19

52-week range

Current $164.19

Open
$165.12
Previous close
$164.81
Volume
339.52K
0.58× average
Average volume
582.68K
Average daily volume
Market cap
10.2B USD
Beta
0.52
Market reference 1
50-day average
$159.48
+2.95% above average
200-day average
$141.44
+16.08% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
4.01B USD
P/E (TTM)
15.48×
P/B (TTM)
2.23×
P/S (TTM)
3.86×
EV / EBITDA
4.67×
Earnings yield
8.00%
Free cash flow yield
1.57%
Dividend yield
2.45%

Profitability & efficiency

Gross margin
85.82%
Operating margin
30.75%
Net margin
25.86%
Return on equity
14.18%
Return on assets
1.22%
Return on invested capital
6.41%

Financial health

Debt / equity
1.17×
Current ratio
0.21×
Altman Z-score
0.25
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends106%75%44%13%Gross margin, FY2021: 98.28%Gross margin, FY2022: 90.03%Gross margin, FY2023: 73.35%Gross margin, FY2024: 70.14%Gross margin, FY2025: 75.04%Operating margin, FY2021: 35.08%Operating margin, FY2022: 35.57%Operating margin, FY2023: 26.92%Operating margin, FY2024: 24.42%Operating margin, FY2025: 26.43%Net margin, FY2021: 31.75%Net margin, FY2022: 30.80%Net margin, FY2023: 22.60%Net margin, FY2024: 20.44%Net margin, FY2025: 22.21%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 98.28%. Gross margin FY2022 90.03%. Gross margin FY2023 73.35%. Gross margin FY2024 70.14%. Gross margin FY2025 75.04%. Operating margin FY2021 35.08%. Operating margin FY2022 35.57%. Operating margin FY2023 26.92%. Operating margin FY2024 24.42%. Operating margin FY2025 26.43%. Net margin FY2021 31.75%. Net margin FY2022 30.80%. Net margin FY2023 22.60%. Net margin FY2024 20.44%. Net margin FY2025 22.21%.

Income trends

Revenue

2.92B USD+2.46%

Operating income

771.7M USD+10.88%

Net income

648.56M USD+11.33%
Income trends across reported periods3.17B USD2.18B USD1.19B USD195.4M USDRevenue, FY2021: 1.4B USDRevenue, FY2022: 1.88B USDRevenue, FY2023: 2.65B USDRevenue, FY2024: 2.85B USDRevenue, FY2025: 2.92B USDOperating income, FY2021: 489.54M USDOperating income, FY2022: 668.83M USDOperating income, FY2023: 712.37M USDOperating income, FY2024: 695.97M USDOperating income, FY2025: 771.7M USDNet income, FY2021: 443.08M USDNet income, FY2022: 579.15M USDNet income, FY2023: 597.97M USDNet income, FY2024: 582.54M USDNet income, FY2025: 648.56M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 1.4B USD. Revenue FY2022 1.88B USD. Revenue FY2023 2.65B USD. Revenue FY2024 2.85B USD. Revenue FY2025 2.92B USD. Operating income FY2021 489.54M USD. Operating income FY2022 668.83M USD. Operating income FY2023 712.37M USD. Operating income FY2024 695.97M USD. Operating income FY2025 771.7M USD. Net income FY2021 443.08M USD. Net income FY2022 579.15M USD. Net income FY2023 597.97M USD. Net income FY2024 582.54M USD. Net income FY2025 648.56M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue2.92B USD2.85B USD2.65B USD1.88B USD1.4B USD
Cost of goods sold728.8M USD851.01M USD705.22M USD187.44M USD23.97M USD
Gross profit2.19B USD2B USD1.94B USD1.69B USD1.37B USD
Selling, general, and administrative896.37M USD832.51M USD788.22M USD636.3M USD524.3M USD
Operating expenses1.42B USD1.3B USD1.23B USD1.02B USD881.99M USD
Interest income2.42B USD2.39B USD2.22B USD1.48B USD1.01B USD
Interest expense684.6M USD786.03M USD659.05M USD184.44M USD23.9M USD
Depreciation and amortization87.79M USD82.82M USD76.44M USD71.34M USD69.29M USD
Operating income771.7M USD695.97M USD712.37M USD668.83M USD489.54M USD
Net income648.56M USD582.54M USD597.97M USD579.15M USD443.08M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
82%
9 beats, 2 misses, 0 met estimates
Average EPS surprise
+2.99%
11 comparable reports
Latest EPS result
2.7
Estimate 2.55 · Beat by 5.88%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates2.872.62.322.05Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Jan 30, 2025: actual 2.36, estimate 2.17, surprise +8.76%, Beat. Q2 2025, reported May 1, 2025: actual 2.3, estimate 2.16, surprise +6.48%, Beat. Q3 2025, reported Jul 31, 2025: actual 2.39, estimate 2.28, surprise +4.82%, Beat. Q4 2025, reported Oct 30, 2025: actual 2.67, estimate 2.38, surprise +12.18%, Beat. Q1 2026, reported Jan 29, 2026: actual 2.57, estimate 2.47, surprise +4.05%, Beat. Q2 2026, reported Apr 30, 2026: actual 2.65, estimate 2.48, surprise +6.85%, Beat. Q3 2026, reported Jul 30, 2026: actual 2.7, estimate 2.55, surprise +5.88%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 2.76, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates633.79M593.18M552.57M511.97MQ1 '25MissQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Jan 30, 2025: actual 536.34M USD, estimate 541.08M USD, surprise -0.88%, Miss. Q2 2025, reported May 1, 2025: actual 540.23M USD, estimate 538.34M USD, surprise +0.35%, Beat. Q3 2025, reported Jul 31, 2025: actual 546.88M USD, estimate 567.76M USD, surprise -3.68%, Miss. Q4 2025, reported Oct 30, 2025: actual 567.08M USD, estimate 563.65M USD, surprise +0.61%, Beat. Q1 2026, reported Jan 29, 2026: actual 603.38M USD, estimate 578.31M USD, surprise +4.34%, Beat. Q2 2026, reported Apr 30, 2026: actual 597.11M USD, estimate 587.28M USD, surprise +1.67%, Beat. Q3 2026, reported Jul 30, 2026: actual 598.35M USD, estimate 589.71M USD, surprise +1.46%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 609.41M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$158.86

3.25% downside
Past 12 months12-month forecastHigh $183Average $158.86Low $141

Rating distribution

34 ratings
Strong buy00%
Buy618%
Hold2265%
Sell618%
Strong sell00%

Recent analyst actions

12 institutions
TD CowenmaintainBuy

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$3.95

2025 complete year+34.4% since 2021

2026 partial: $2.03

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Aug 31, 2026

$1.03

Quarterly

Record Aug 31, 2026 · Payment Sep 15, 2026

Dividend

Ex-dividend May 29, 2026

$1.03

Quarterly

Record May 29, 2026 · Payment Jun 15, 2026

Dividend

Ex-dividend Feb 27, 2026

$1.00

Quarterly

Record Feb 27, 2026 · Payment Mar 13, 2026

Dividend

Ex-dividend Nov 28, 2025

$1.00

Quarterly

Record Nov 28, 2025 · Payment Dec 15, 2025

Dividend

Ex-dividend Aug 29, 2025

$1.00

Quarterly

Record Aug 29, 2025 · Payment Sep 15, 2025

Dividend

Ex-dividend May 30, 2025

$1.00

Quarterly

Record May 30, 2025 · Payment Jun 13, 2025

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ETFs holding CFR

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Core S&P Mid-Cap ETF logoiShares Core S&P Mid-Cap ETFIJH
Market value
365.06M
Weight
0.28%
AUM
125.92B USD
Expense ratio
0.05%
Price / 1D
$76.77+0.52%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
315.17M
Weight
0.01%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
228.07M
Weight
0.12%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
Vanguard Morningstar Small-Cap Value ETF logoVanguard Morningstar Small-Cap Value ETFVBR
Market value
144.9M
Weight
0.21%
AUM
68.3B USD
Expense ratio
0.05%
Price / 1D
$249.18+0.68%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
120.25M
Weight
0.13%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
State Street SPDR S&P Dividend ETF logoState Street SPDR S&P Dividend ETFSDY
Market value
90.5M
Weight
0.41%
AUM
22.07B USD
Expense ratio
0.35%
Price / 1D
$158.44+0.23%
First Trust SMID Cap Rising Dividend Achievers ETF logoFirst Trust SMID Cap Rising Dividend Achievers ETFSDVY
Market value
87.62M
Weight
0.76%
AUM
11.64B USD
Expense ratio
0.58%
Price / 1D
$43.87+0.46%
State Street SPDR S&P MIDCAP 400 ETF Trust logoState Street SPDR S&P MIDCAP 400 ETF TrustMDY
Market value
75.8M
Weight
0.28%
AUM
26.72B USD
Expense ratio
0.23%
Price / 1D
$699.6+0.48%

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