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Cullen/Frost Bankers Inc CFR Stock Quote

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Morningstar‘s Stock Analysis CFR

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Solid Q2 for Cullen/Frost; Higher Net Interest Income Driving Higher EPS Outlook

Analyst Note

| Eric Compton, CFA |

Narrow-moat-rated Cullen/Frost reported decent second-quarter earnings per share of $1.81, roughly in line with the FactSet consensus of $1.77, while revenue came in at $409 million, slightly ahead of consensus of $391 million. Last quarter, management highlighted that some additional expense pressure was starting to materialize, and we saw that this quarter as expenses were up 3% sequentially and 14% year over year. This was in line with our expectations, and we were already forecasting for double-digit year-over-year growth for the rest of the year. Trust and investment fees started to show a bit of weakness sequentially, a common pattern throughout the industry; however, most other fee line items were holding up well in the quarter. As a reminder, there will be some slightly additional pressure from the elimination of OD/NSF fees in the second half of the year.

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Key Statistics CFR

Company Profile CFR

Business Description

Cullen/Frost Bankers is a financial holding company, headquartered in San Antonio. One of the 50 largest U.S. banks, Frost provides a wide range of banking, investments, and insurance services to businesses and individuals across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande Valley, and San Antonio regions.

111 W. Houston Street
San Antonio, TX, 78205
T +1 210 220-4011
Industry Banks - Regional
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 4,553

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