Stocks · Financial Services · Banks - Regional
Cullen/Frost Bankers, Inc. CFR
$155.04 +1.02% Close, Oct 2, 2026 · NYSE · Market cap $9.64B
Next earnings report: Oct 29, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Earnings beat analyst estimates in each of the last 9 quarters (average surprise over the last four: +7.2%).
- Net debt is 5.2× EBITDA, a high level of leverage.
- The stock is in an uptrend: above its 200-day average for 137 trading days, with the 50-day average above the 200-day.
PromtFinance scores
Each score is a percentile within the Financial Services sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
Growth38Weak
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 13%
- EPS growth (TTM, YoY)Bottom 43%
- FCF growth (TTM, YoY)Top 2%
- Revenue growth, 3-year CAGRTop 46%
- Revenue growth accelerationBottom 24%
Quality57Neutral
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 49%
- Gross marginTop 9%
- Operating marginTop 27%
- Cash conversion (OCF / net income)Bottom 42%
- Accruals (lower is better)Bottom 38%
- Net debt / EBITDA (lower is better)Bottom 24%
- Interest coverTop 41%
Value41Weak
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 48%
- Free-cash-flow yieldBottom 43%
- EBITDA / enterprise valueBottom 48%
- Sales / enterprise valueBottom 21%
- P/E vs own 5-year history (lower is better)Top 48%
Momentum66Positive
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 26%
- 6-month returnTop 35%
- 1-year return vs S&P 500Top 27%
- Distance from 52-week highTop 45%
- Trend checklist (0–4)Top 48%
Revisions48Neutral
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 38%
- Consecutive EPS beatsTop 11%
- Share of analysts rating BuyBottom 15%
- Upside to consensus price targetBottom 31%
Stability43Weak
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 29%
- Maximum drawdown, 3 yearsTop 44%
- Beta vs S&P 500 (lower is better)Bottom 33%
- Net debt / EBITDA (lower is better)Bottom 24%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -2.7% | -8.0% | ↓ |
| EPS growth (YoY) | 12.7% | 13.9% | ↑ |
| Gross margin | 72.4% | 85.8% | ↑ |
| Operating margin | 25.2% | 30.8% | ↑ |
| FCF margin | 3.0% | 24.4% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | -8.0% | -2.7% | ↓ | Bottom 13% |
| EPS growth (TTM, YoY) | 13.9% | 12.7% | ↑ | Bottom 43% |
| Gross margin | 85.8% | 72.4% | ↑ | Top 9% |
| Operating margin | 30.8% | 25.2% | ↑ | Top 27% |
| Net margin | 25.9% | 21.2% | ↑ | — |
| Free-cash-flow margin | 24.4% | 3.0% | ↑ | — |
| Return on invested capital | 1.3% | — | Bottom 49% | |
| Revenue growth, 3-year CAGR | 15.8% | — | Top 46% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.05×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -0.1%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.0%
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 5.24×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 1.3×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 2.67%
- Net buyback yield (TTM)
- 3.24%
- Shareholder yield
- 5.91%
- Share count change, 1 year
- -2.4%
- Share count change, 3-year CAGR
- -0.9%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 30, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 9
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +7.2%
- Average 2-day reaction, last 8
- +0.1%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $169.86
- Target vs current price
- +9.6%
- Analysts with a rating
- 34
- Share rating Buy or Strong Buy
- 21%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 30, 2026 | +5.9% | -2.1% | -0.5% | -2.2% | — |
| Apr 30, 2026 | +6.9% | +1.5% | -1.4% | -4.6% | +14.8% |
| Jan 29, 2026 | +4.0% | +2.6% | +5.3% | +6.6% | +4.6% |
| Oct 30, 2025 | +12.2% | +1.7% | +2.2% | +2.7% | +11.7% |
| Jul 31, 2025 | +4.8% | -4.9% | -7.7% | -1.6% | -7.8% |
| May 1, 2025 | +6.5% | +3.3% | +5.3% | +10.9% | +16.2% |
| Jan 30, 2025 | +8.8% | +1.2% | +1.1% | -1.7% | -16.9% |
| Oct 31, 2024 | +3.2% | -2.4% | +10.1% | +9.1% | +6.4% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 30, 2026 | $2.70 | $2.55 | +5.9% | $598.3M |
| Apr 30, 2026 | $2.65 | $2.48 | +6.9% | $597.1M |
| Jan 29, 2026 | $2.57 | $2.47 | +4.0% | $603.4M |
| Oct 30, 2025 | $2.67 | $2.38 | +12.2% | $567.1M |
| Jul 31, 2025 | $2.39 | $2.28 | +4.8% | $546.9M |
| May 1, 2025 | $2.30 | $2.16 | +6.5% | $540.2M |
| Jan 30, 2025 | $2.36 | $2.17 | +8.8% | $536.3M |
| Oct 31, 2024 | $2.24 | $2.17 | +3.2% | $608.2M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 14.7× | 14.5× | 52th | Top 48% |
| P/E (forward) | 14.1× | — | — | — |
| EV / EBITDA | 15.9× | — | — | Bottom 48% |
| EV / Sales | 5.43× | — | — | Bottom 21% |
| Free-cash-flow yield | 6.70% | — | — | Bottom 43% |
| Earnings yield | 6.82% | — | — | Top 48% |
P/E over the past five years
Range 8.8× – 21.2× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +23.3%
- Earnings per share growth (TTM)
- +13.9%
- Change in P/E multiple
- +12.7%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 137
- 50-day average slope (20 days)
- +0.2%
- 200-day average slope (20 days)
- +2.3%
- Distance from 50-day average
- -4.6%
- Distance from 200-day average
- +5.8%
- RSI (14)
- 39.9
- Relative volume
- 0.61×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 16.7%
- Volatility vs own 5-year history
- 0th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.84
- Correlation with S&P 500
- 0.52
- Current drawdown from 1-year high
- -8.8%
- Maximum drawdown, 3 years
- -27.1%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Nov 8, 2022 | Oct 25, 2023 | -47.3% | 241 days | 681 days (Jul 16, 2026) |
| Feb 15, 2022 | Jun 13, 2022 | -21.7% | 81 days | 87 days (Oct 17, 2022) |
| May 17, 2021 | Jul 19, 2021 | -19.1% | 43 days | 65 days (Oct 19, 2021) |
| Nov 3, 2021 | Dec 20, 2021 | -12.2% | 32 days | 15 days (Jan 11, 2022) |
| Aug 14, 2026 | Sep 30, 2026 | -10.2% | 32 days | Not yet recovered |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $9.64B
- P/E (TTM)
- 14.7
- EPS, diluted (TTM)
- $10.58
- Revenue (TTM)
- $2.64B
- Dividend yield
- 2.62%
- 52-week range
- $119.00 – $170.80
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $1.40B | $1.88B | $2.65B | $2.85B | $2.92B |
| Gross profit | $1.37B | $1.69B | $1.94B | $2.00B | $2.19B |
| Operating income | $489.5M | $668.8M | $712.4M | $696.0M | $771.7M |
| Net income | $443.1M | $579.1M | $598.0M | $582.5M | $648.6M |
| EPS (diluted) | $6.74 | $8.79 | $9.08 | $8.87 | $9.92 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $721.9M | $723.5M | $709.1M | $719.2M | $745.6M | $745.9M | $574.8M | $577.0M |
| Net income | $146.5M | $154.9M | $150.9M | $157.0M | $174.4M | $166.3M | $171.0M | $172.1M |
| EPS (diluted) | $2.24 | $2.36 | $2.30 | $2.39 | $2.67 | $2.56 | $2.65 | $2.70 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $648.3M | $722.6M | $478.8M | $989.5M | $274.0M |
| Capital expenditure | -$65.8M | -$102.5M | -$158.6M | -$127.8M | -$146.7M |
| Free cash flow | $582.4M | $620.1M | $320.2M | $861.8M | $127.3M |
| Dividends paid | -$188.8M | -$209.8M | -$232.3M | -$242.4M | -$255.4M |
| Net share buybacks | -$3.9M | -$4.4M | -$42.7M | -$60.9M | -$145.9M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $697.7M
- Total assets
- $53.88B
- Total liabilities
- $49.26B
- Total debt
- $5.42B
- Net debt
- $4.73B
- Shareholders’ equity
- $4.62B
As of Jun 30, 2026 (filed Jul 30, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Aug 31, 2026 | $1.03 | Sep 15, 2026 |
| May 29, 2026 | $1.03 | Jun 15, 2026 |
| Feb 27, 2026 | $1.00 | Mar 13, 2026 |
| Nov 28, 2025 | $1.00 | Dec 15, 2025 |
| Aug 29, 2025 | $1.00 | Sep 15, 2025 |
| May 30, 2025 | $1.00 | Jun 13, 2025 |
| Feb 28, 2025 | $0.95 | Mar 14, 2025 |
| Nov 29, 2024 | $0.95 | Dec 13, 2024 |
Short interest
- Shares sold short
- 4,036,885
- Days to cover
- 8.18
- Change vs previous report
- +4.1%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Jun 23, 1999
- 2-for-1
- Jun 24, 1996
- 2-for-1
- Feb 9, 1993
- 11-for-10
- Dec 1, 1981
- 4-for-3
- Feb 25, 1981
- 4-for-3