Inside the research
Cullen/Frost Bankers, Inc.
CFR Research profile · latest available data
Price overview
$157.42
▲ +1.21 (+0.8%)
| 52w hi | $169.00 |
|---|---|
| 52w lo | $116.42 |
| Vol | 485.70K |
| As of | 25 Sep 2026 |
The Verdict
Our score +0.35
| Short | +0.32 |
|---|---|
| Medium | +0.37 |
| Long | +0.35 |
computed 2026-09-27
Key fundamentals
Cullen/Frost Bankers, Inc.
Financial Services · Banks - Regional
| Market cap | $9.78B |
|---|---|
| Enterprise value | $8.85B |
| Trailing P/E | 14.88x |
| Forward P/E | 13.25x |
| P / S (ttm) | 4.32x |
| Profit margin | 30.2% |
| Return on equity | 15.5% |
| Revenue growth | +6.1% |
| Earnings growth | +12.8% |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.31 | |
| Sector | +0.02 | |
| Technical | +0.23 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
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.
Risk Metrics
| Beta vs SPX | 0.87 |
|---|---|
| Corr SPX | 0.53 |
| Annual vol | 26.5% |
| Annual ret | +19.5% |
| Sharpe | 0.74 |
| Max DD | -27.1% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $149.93 |
|---|---|
| High / Low | $165.00 / $130.00 |
| Median | $155.00 |
| Analysts | 15 |
| Strong Buy | 3 | |
|---|---|---|
| Buy | 3 | |
| Hold | 6 | |
| Sell | 3 | |
| Strong Sell | 0 |
Recent rating actions
| 2026-05-07 | Citigroup | → Sell |
| 2026-05-05 | Evercore ISI Group | → In-Line |
| 2026-05-04 | DA Davidson | → Neutral |
| 2026-05-01 | RBC Capital | → Sector Perform |
| 2026-04-07 | Barclays | → Equal-Weight |
| 2026-04-06 | Evercore ISI Group | → In-Line |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-07-30 | Earnings Release, Exhibits | read |
| 2026-04-30 | Earnings Release, Exhibits | read |
| 2026-04-29 | Shareholder Vote | read |
| 2026-02-11 | Reg FD Disclosure, Exhibits | read |
| 2026-01-30 | Officer / Director Change, Exhibits | read |
| 2026-01-29 | Earnings Release, Exhibits | read |
| 2025-10-30 | Earnings Release, Exhibits | read |
| 2025-09-15 | Reg FD Disclosure, Exhibits | read |
| 2025-07-31 | Earnings Release, Exhibits | read |
| 2025-05-01 | Earnings Release, Exhibits | read |
| 2025-04-30 | Shareholder Vote | read |
| 2025-02-12 | Reg FD Disclosure, Exhibits | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-06-12 | Severyn Carol Jean | GEVP and Chief Risk Offic | Sell | 837 | $124.12K |
Flow & Concentration
| Insider 180d net | -$124.12K |
|---|---|
| Insider buys / sells | 0 / 1 |
| Insider bias | Neutral |
| 13F holders | 9 |
| Top-5 share | 98.9% |
| HHI | 3,953 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $497.29M | 3.22M |
| Norges Bank (Norway sovereign) | $429.20M | 2.78M |
| Fidelity / FMR LLC | $46.63M | 301.76K |
| AQR Capital Management | $37.22M | 240.87K |
| Capital Research / Capital World | $27.72M | 179.39K |
| Renaissance Technologies | $5.96M | 38.60K |
| Citadel Advisors | $2.98M | 19.26K |
| Millennium Management | $2.97M | 19.25K |
| T. Rowe Price Group | $9.41K | 60.92K |
As of 2026-06-30
Dividends
| Yield (TTM) | 1.27% |
|---|---|
| $ / share (TTM) | $2.00 |
| 5y CAGR | +6.7% |
Annual dividend per share
| 2021 | $2.94 |
|---|---|
| 2022 | $3.24 |
| 2023 | $3.58 |
| 2024 | $3.74 |
| 2025 | $3.95 |
| 2026 | $1.00 |
SEC Filings
The Long Run
FY 2010–2025 · 16 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $106.23M | -16.5% | |
| Net income | $582.54M | +7.1% | |
| Cash from ops | $478.85M | +9.3% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $157.14 | $158.22 | $156.25 | $157.42 | 485.70K |
| Sep 24 | $155.05 | $156.81 | $153.97 | $156.21 | 535.00K |
| Sep 23 | $155.81 | $157.08 | $153.74 | $154.26 | 404.70K |
| Sep 22 | $159.52 | $159.52 | $155.96 | $156.15 | 470.10K |
| Sep 21 | $160.83 | $160.83 | $158.67 | $158.74 | 443.20K |
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