Cullen/Frost Bankers (NYSE:CFR) Releases Earnings Results, Beats Estimates By $0.04 EPS

Posted by George Bondi on Oct 30th, 2026

Cullen/Frost Bankers (NYSE:CFR – Get Free Report) posted its quarterly earnings results on Thursday. The bank reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04, FiscalAI reports. The business had revenue of $603.83 million during the quarter, compared to the consensus estimate of $610.19 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%. During the same quarter in the previous year, the firm earned $2.67 earnings per share.

Here are the key takeaways from Cullen/Frost Bankers’ conference call:

Third-quarter earnings increased 3.4% year over year to $178.5 million, while EPS rose 6.4% to $2.84. Average loans grew 9% and deposits increased 3.6% from the prior year.
Loan momentum remained strong, supported by an all-time-high $2.5 billion commercial pipeline, record core-loan commitments, 18.7% consumer-loan growth, and continued success attracting customers from bank mergers and acquisitions.
Management raised 2026 guidance for net interest income growth to 5%-5.5%, average loan growth to 8%-8.5%, and non-interest-income growth to 8.5%-9%; October average deposits had already reached $44.4 billion.
Credit metrics improved as non-performing assets fell to $67 million, or 28 basis points of period-end loans, after a large multifamily loan paid off. Net charge-offs remained low at 14 basis points of average loans.
Higher rates increased funding costs and drove the available-for-sale securities portfolio’s net unrealized loss to $2 billion from $1.1 billion in the prior quarter; management also expects fourth-quarter interest-bearing deposit costs to rise roughly 12-15 basis points.

Cullen/Frost Bankers Trading Down 0.3%

Shares of Cullen/Frost Bankers stock traded down $0.50 during midday trading on Friday, reaching $157.35. The company had a trading volume of 109,998 shares, compared to its average volume of 546,783. The firm has a market cap of $9.78 billion, a PE ratio of 14.89, a P/E/G ratio of 1.83 and a beta of 0.56. Cullen/Frost Bankers has a fifty-two week low of $119.14 and a fifty-two week high of $170.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a fifty day moving average price of $157.94 and a 200 day moving average price of $148.72.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. Cullen/Frost Bankers’s dividend payout ratio is presently 38.94%.

Key Stories Impacting Cullen/Frost Bankers

Here are the key news stories impacting Cullen/Frost Bankers this week:

Positive Sentiment: Third-quarter earnings beat expectations. Cullen/Frost reported diluted EPS of $2.84, up from $2.67 a year earlier and above the consensus estimate of $2.80. Net income available to common shareholders increased to $178.5 million. Cullen/Frost Reports Third Quarter Results
Positive Sentiment: Loan growth and fee income were encouraging. Average loans rose 9.0% year over year to $23.4 billion, while non-interest income increased 8.2% to $136.0 million. The bank also maintained strong profitability, with a 15.55% return on equity and a 23.34% net margin. Cullen Frost Reports Third Quarter Net Income
Positive Sentiment: The quarterly dividend was maintained at $1.03 per common share. The dividend equates to $4.12 annually, or an indicated yield of approximately 2.6%. The payment is scheduled for December 15 for shareholders of record November 30. Cullen/Frost Declares Fourth-Quarter Dividend
Neutral Sentiment: Cullen/Frost updated its full-year 2026 earnings guidance. The revised outlook gives investors a fresh assessment of expected results, but the available report does not specify whether the change represents an increase or decrease. Cullen/Frost Updates 2026 Earnings Guidance
Negative Sentiment: Revenue fell short of estimates. Quarterly revenue was $603.83 million versus the $610.19 million consensus forecast. Non-interest expenses also increased 7.0% year over year, which may limit operating-leverage gains.
Negative Sentiment: Credit quality remains an area to monitor. Cullen/Frost recorded $12.1 million of credit-loss expense and $8.4 million of net charge-offs, adding to investor caution even though overall earnings remained strong.
Neutral Sentiment: The company will move its primary listings to the Texas Stock Exchange on November 12. The CFR and CFR.PrB ticker symbols will remain unchanged. The move reinforces Cullen/Frost’s Texas identity but does not directly affect ownership, valuation, or cash flow. Cullen/Frost to Move Primary Listings to TXSE

Analysts Set New Price Targets

A number of analysts have recently weighed in on CFR shares. Royal Bank Of Canada cut their price target on shares of Cullen/Frost Bankers from $176.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, October 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Morgan Stanley upped their target price on Cullen/Frost Bankers from $200.00 to $201.00 and gave the stock an “overweight” rating in a research note on Monday, September 28th. Zacks Research lowered Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Finally, Jefferies Financial Group upgraded Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and lifted their target price for the company from $135.00 to $160.00 in a research report on Monday, July 6th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus target price of $169.36.

View Our Latest Stock Analysis on Cullen/Frost Bankers

About Cullen/Frost Bankers

(Get Free Report)

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers personal and commercial deposit accounts, loans, mortgages, treasury management, payments and other business banking services. The company also provides wealth management, trust and investment services, brokerage services and insurance solutions through its related businesses.

Frost traces its history to 1868, when Thomas Claiborne Frost founded the bank in San Antonio.

Featured Stories

Earnings History for Cullen/Frost Bankers (NYSE:CFR)

Receive News & Ratings for Cullen/Frost Bankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers and related companies with MarketBeat.com's FREE daily email newsletter.