Cullen/Frost Bankers, Inc. (CFR) Stock Price & Analysis
Cullen/Frost Bankers, Inc. (CFR) closed at USD 157.85 on Thursday, October 29, 2026, up 0.54% on the day. The US market is currently closed (after-hours); this is not a live price.
The prior close was USD 157.01; the Oct 29, 2026 session ranged USD 154.11–160.99 on volume of 621,865 shares. Market capitalization is $9.81B, with a 52-week range of USD 119.15–170.8 (NYQ). Source: Nexqual, retrieved October 29, 2026 at 21:45 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CFR.md
Key facts (CFR)
- Last four reported quarters (through Jun 30, 2026): revenue $2.30B, net income $684M (29.7% margin) (SEC filings).
- Valuation: P/E 14.3x (avg 13.0x at the last 3 fiscal year-ends).
- Analysts: Hold (mean 2.50 on a 1–5 scale) (16 analysts), mean target USD 172.27 (range 145–201).
- Total return with dividends: 1Y +31.6% vs S&P 500 +14.4%; 5Y +41.4% vs S&P 500 +79.1%.
- Next earnings: 2026-10-29, EPS estimate USD 2.84, revenue estimate $628M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CFR)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.37B | $1.70B | $1.99B | $2.06B | $2.24B | $2.30B |
| Net income | $443M | $579M | $598M | $583M | $649M | $684M |
| EPS (diluted) | $6.76 | $8.81 | $9.10 | $8.87 | $9.92 | — |
| Free cash flow | $582M | $620M | $320M | $862M | $127M | $541M |
| Net margin | 32.3% | 34.1% | 30.1% | 28.2% | 29.0% | 29.7% |
| Revenue growth | -4.8% | +23.7% | +17.2% | +3.8% | +8.3% | — |
| Cash + short-term investments | $16.6B | $12.0B | $8.69B | $10.2B | $8.87B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (CFR)
P/E 14.3x · P/S 4.3x · P/FCF 18.1x · P/B 2.1x · FCF yield 5.52% · Earnings yield 6.97% · Dividend yield (paid, TTM) 2.63% · Buyback yield (TTM) 3.25%
P/E at fiscal year-ends: Dec 2025 12.5x, Dec 2024 14.8x, Dec 2023 11.7x.
Analysts (CFR)
Consensus Hold (mean 2.50 on a 1–5 scale), 16 analysts; mean target USD 172.27 (low 145, high 201).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | Cantor Fitzgerald | Target lowered | Neutral | $175 → $167 |
| 2026-10-09 | RBC Capital | Target lowered | Sector Perform | $176 → $175 |
| 2026-10-05 | Barclays | Target raised | Equal-Weight | $160 → $175 |
| 2026-10-05 | TD Cowen | Target lowered | Buy | $185 → $178 |
| 2026-10-01 | Evercore ISI Group | Target lowered | In-Line | $181 → $166 |
| 2026-09-28 | Morgan Stanley | Target raised | Overweight | $200 → $201 |
| 2026-09-08 | Morgan Stanley | Upgrade | Underweight → Overweight | $141 → $200 |
| 2026-08-19 | Cantor Fitzgerald | Target raised | Neutral | $158 → $175 |
| 2026-08-05 | Evercore ISI Group | Target raised | In-Line | $166 → $181 |
| 2026-08-03 | TD Cowen | Target raised | Buy | $169 → $185 |
| 2026-07-31 | RBC Capital | Target raised | Sector Perform | $168 → $176 |
| 2026-07-31 | Stephens & Co. | Target raised | Overweight | $169 → $183 |
Total return (dividends reinvested) (CFR)
| 1Y (from 2025-10-30) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | +31.6% | +41.4% |
| S&P 500 (SPY) | +14.4% | +79.1% |
| Per year | +31.8% | +7.2% |
| Volatility (annualized) | 19.2% | 27.3% |
| Max drawdown | -11.4% (Feb 2026→Mar 2026) | -43.3% (Oct 2022→Oct 2023) |
CFR earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Sep 30, 2026 | $2.84 | $2.80 | Beat +1.4% | — |
| — | Quarter ended Jun 30, 2026 | $2.70 | $2.57 | Beat +5.1% | — |
| — | Quarter ended Mar 31, 2026 | $2.65 | $2.49 | Beat +6.4% | — |
| — | Quarter ended Dec 31, 2025 | $2.80 | $2.45 | Beat +14.3% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
CFR recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Oct 29, 2026 | 8-K | Delisting notice or listing-rule failure; Regulation FD disclosure “On October 29, 2026, Cullen/Frost Bankers, Inc. (the "Company"), acting pursuant to authorization from its Board of Directors (the "Board"), notified the New York Stock Exchange ("NYSE") of its intention to voluntarily withdraw the listing of: (i) its common stock, par value $0.01 per share (the "Common Stock") and (ii) its depositary shares each representing 1/40 th interest in a share of 4.450% non-cumulative perpetual preferred stock, Series B (the "Depositary Shares") and transfer the listings to the Texas…” |
| Oct 29, 2026 | 10-Q | Quarterly report · period ended Sep 30, 2026 |
| Oct 29, 2026 | 8-K | Quarterly results |
| Aug 17, 2026 | 8-K | Regulation FD disclosure |
| Aug 7, 2026 | Schedule 13G | STATE STREET CORPORATION: 5.1% of shares, passive 5%+ holder |
| Jul 30, 2026 | 10-Q | Quarterly report · period ended Jun 30, 2026 |
| Jul 30, 2026 | 8-K | Quarterly results |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
CFR suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Federal Deposit Insurance | “Furthermore, as we and other regional banking organizations experienced in 2023, the failure of other financial institutions may cause deposit outflows as customers spread deposits among several different banks so as to maximize their amount of FDIC insurance, move deposits to banks deemed "too big to fail" or remove deposits from the banking system entirely.” |
Quoted from the company's 10-K filed Feb 5, 2026.
CFR analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $2.84 | $2.74 | +3.8% | $627.9M | 12 |
| Next quarter (ends Mar 2027) | $2.87 | $2.76 | +3.7% | $627.0M | 7 |
| Current fiscal year (ends Dec 2026) | $11.00 | $10.70 | +2.9% | $2.41B | 14 |
| Next fiscal year (ends Dec 2027) | $11.92 | $11.10 | +7.4% | $2.57B | 14 |
Key Statistics (as of October 29, 2026 at 21:45 UTC)
| Price | USD 157.85 |
|---|---|
| Change | ▲ 0.54% (up) |
| Previous Close | USD 157.01 |
| Open | USD 159.99 |
| Day Range | USD 154.11 – 160.99 |
| 52-Week Range | USD 119.15 – 170.8 |
| Volume | 621,865 shares |
| Market Cap | $9.81B |
| Exchange | NYQ |
Technical Analysis (CFR)
Nexqual's technical model rates CFR "BUY" based on 4 bullish and 1 bearish signals across 127 daily candles, as of October 29, 2026 at 21:45 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 51.98 (neutral) |
| vs SMA50 | Below (USD 157.88) |
| MACD | 0.2 (positive) |
Analyst Ratings (CFR)
Wall Street analysts rate CFR "Hold" based on 16 analysts, with a mean price target of USD 172.27 (range USD 145–201), per Nexqual as of October 29, 2026 at 21:45 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 16 |
| Mean Target | USD 172.27 |
| High Target | USD 201 |
| Low Target | USD 145 |
| Buy / Hold / Sell | 6 / 9 / 1 |
Earnings (CFR)
| Next Earnings Date | 2026-10-29 |
|---|---|
| EPS Estimate | USD 2.84 |
| Revenue Estimate | $627.86M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 2.84 vs est 2.8 ▲ beat |
| 2026-06-30 | USD 2.7 vs est 2.57 ▲ beat |
| 2026-03-31 | USD 2.65 vs est 2.49 ▲ beat |
| 2025-12-31 | USD 2.8 vs est 2.45 ▲ beat |
Source: Nexqual, October 29, 2026 at 21:45 UTC.
Financials & Fundamentals (CFR)
| Total Revenue | $2.26B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +6.10% |
| Gross Margin | +0.00% |
| Operating Margin | +37.24% |
| Profit Margin | +30.19% |
| ROE | +15.50% |
| Total Cash | $6.62B |
| Total Debt | $5.54B |
Source: Nexqual, October 29, 2026 at 21:45 UTC.
Financial Health Score (CFR)
Nexqual rates Cullen/Frost Bankers, Inc.'s overall financial health "Solid" across five dimensions, as of October 29, 2026 at 21:45 UTC.
| Growth | Solid — Revenue +8% YoY (annual) |
|---|---|
| Profitability | Strong — Net margin 30% (last 12 months); banks have no gross margin |
| Balance Sheet | N/A — Not comparable for banks: deposits and customer funds sit on the balance sheet, so cash vs debt does not measure safety (SEC industry: National Commercial Banks) |
| Cash Flow | N/A — Not meaningful for banks and lenders: lending and trading move operating cash flow by billions each year (SEC industry: National Commercial Banks) |
| Efficiency | Mixed — ROE 15%, ROA 1.3% (last 4 quarters, SEC) |
Ownership (CFR)
| Insider Ownership | +6.18% |
|---|---|
| Institutional Ownership | +96.70% |
| Shares Outstanding | 62.15M |
| Float | 61.30M |
| Short % of Float | +6.59% |
Source: Nexqual, October 29, 2026 at 21:45 UTC.
Leadership (CFR)
Cullen/Frost Bankers, Inc. is led by Phillip D. Green, Chairman of the Board & CEO, per Nexqual as of October 29, 2026 at 21:45 UTC.
| Chairman of the Board & CEO | Phillip D. Green |
|---|---|
| President, Group Executive VP & Chief Banking Officer | Paul H. Bracher |
| Group Executive VP & CFO | Daniel J. Geddes |
| Director of Investor Relations | A. B. Mendez C.F.A. |
| Senior Vice President of Private Client Services for Allen Financial Center | Carole Kilpatrick |
Major Backers & Investors (CFR)
Notable institutional backers of Cullen/Frost Bankers, Inc. include Aristotle Capital Management, LLC, First Eagle Investment Management, LLC, Baillie Gifford, according to Nexqual as of October 29, 2026 at 21:45 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Aristotle Capital Management, LLC | 7.19% |
| First Eagle Investment Management, LLC | 4.47% |
| Baillie Gifford | 3.59% |
| King Luther Capital Management | 2% |
| JANUS INVESTMENT FUND-Janus Henderson Contrarian Fund | 0.94% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 11.8% |
| Vanguard Group | 9.52% |
| State Street | 5.18% |
| Dimensional Fund Advisors | 2.66% |
| Geode Capital | 2.15% |
Source: Nexqual, October 29, 2026 at 21:45 UTC.
From Cullen/Frost Bankers, Inc.'s Latest SEC 10-K Filing (filed 2026-02-05)
Key Strengths & Strategy (as disclosed to the SEC)
- All member banks of the Federal Reserve System, including Frost Bank, are required to hold stock in the Federal Reserve System's Reserve Banks in an amount equal to six percent of their capital stock and surplus (half paid to acquire the stock with the remainder held as a cash reserve).
Partnerships
- If a financial holding company ceases to meet these capital and management requirements, the BHC Act, and the Federal Reserve Board's regulations provide that the financial holding company must enter into a confidential agreement with the Federal Reserve Board to comply with all applicable capital and management requirements.
Legal & Regulatory Risks (Item 1A, quoted)
- We Are Subject To Litigation Risk Pertaining To Intellectual Property
- Financial Services Companies Depend On The Accuracy and Completeness Of Information About Customers and Counterparties
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 21:45 UTC. This page is informational and not investment advice.
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