Cullen/Frost Bankers
Texas-focused provider of relationship banking, treasury services, insurance, and wealth management.
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Profile
Provides commercial and consumer banking through Frost Bank, with deposits, lending, treasury services, insurance, and investments, while Frost Wealth Advisors supplies trust, retirement, brokerage, and asset management. Operates only in Texas through regional relationship teams, with banking as the principal segment and results tied to deposit behavior, interest rates, credit cycles, and regulation.
Provides commercial and consumer banking through Frost Bank, including deposits, lending, treasury management, international services, insurance, and securities-related activities. Frost Wealth Advisors adds private trust, retirement, brokerage, and asset-management services.
Operates entirely in Texas through regional teams spanning seven metropolitan and market areas. Relationship-focused service, centralized support, live customer access, and an internally built financial-center expansion model shape how the franchise competes with banks, credit unions, insurers, securities firms, and digital providers.
Banking supplies the principal operating segment, while Frost Wealth Advisors is reported separately. Results depend on Texas loan and deposit conditions, interest-rate and funding mechanics, credit cycles tied to energy and property markets, and compliance across banking, consumer, privacy, securities, and insurance regulation.
Company facts
Categories
Key statistics
Year to date +26.2% · Average volume (30d) 590.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 31, 2026 | D.A. Davidson | Target | $144 | $164 | ||
| Jul 31, 2026 | Stephens | Reiterate | Overweight | $164 | $183 | |
| Jul 7, 2026 | Barclays | Reiterate | Equal Weight | $150 | $160 | |
| Jul 6, 2026 | Jefferies | Upgrade | Underperform | Hold | $105 | $160 |
| Jul 1, 2026 | Raymond James | Downgrade | Outperform | Market Perform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $2.55 | $2.70 | +5.9% | $589.7M | $598.3M | +1.5% | −2.06% |
| Apr 30, 2026Q1 FY26 | $2.48 | $2.65 | +6.9% | $587.3M | $597.1M | +1.7% | −3.15% |
| Jan 29, 2026Q4 FY25 | $2.47 | $2.57 | +4.0% | $578.3M | $603.4M | +4.3% | −0.68% |
| Oct 30, 2025Q3 FY25 | $2.38 | $2.67 | +12.2% | $563.7M | $567.1M | +0.6% | −0.24% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $709.1M | $719.2M | $745.6M | $745.9M | $574.8M | $577.0M | |
| Gross profit | $527.2M | $533.7M | $560.5M | $569.6M | $568.1M | $570.2M | |
| Operating income | $179.1M | $186.6M | $208.0M | $198.0M | $202.4M | $204.5M | |
| Net income | $150.9M | $157.0M | $174.4M | $166.3M | $171.0M | $172.1M | |
| Diluted EPS | $2.30 | $2.39 | $2.67 | $2.56 | $2.65 | $2.70 | |
| Gross margin | 74.3% | 74.2% | 75.2% | 76.4% | 98.8% | 98.8% | |
| Operating margin | 25.3% | 25.9% | 27.9% | 26.5% | 35.2% | 35.5% |
Fiscal years (4-quarter sums)FY21 $1.40B · FY22 $1.88B · FY23 $2.65B · FY24 $2.85B · FY25 $2.92B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $697.7M · Total debt $5.42B · Total assets $53.88B · Shareholders' equity $4.62B
Dividends
Raised for 32 straight years — most recently to $1.03 from $1.00 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| May 29, 2026 | May 29 | Jun 15 | $1.03 | raised from $1.00 |
| Feb 27, 2026 | Feb 27 | Mar 13 | $1.00 | |
| Nov 28, 2025 | Nov 28 | Dec 15 | $1.00 | |
| Aug 29, 2025 | Aug 29 | Sep 15 | $1.00 | |
| May 30, 2025 | May 30 | Jun 13 | $1.00 | raised from $0.95 |
| Feb 28, 2025 | Feb 28 | Mar 14 | $0.95 | |
| Nov 29, 2024 | Nov 29 | Dec 13 | $0.95 | |
| Aug 30, 2024 | Aug 30 | Sep 13 | $0.95 | raised from $0.92 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 62.15M · Float 61.28M · 98.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 7.34M | 11.80% | 13F | Aug 7, 2026 |
| Aristotle Capital Management, LLC | 4.47M | 7.19% | 13F | Aug 14, 2026 |
| State Street Corp | 3.22M | 5.18% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 3.20M | 5.15% | 13F | Aug 13, 2026 |
| First Eagle Investment Management, LLC | 2.78M | 4.47% | 13F | Aug 24, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 12, 2026 | Carol Jean Severyn | officer: GEVP and Chief Risk Officer | −837 | $148.29 |
| Jan 30, 2026 | Bobby Berman | officer: GEVP Research & Strategy | −1,000 | $137.07 |
| Dec 12, 2025 | Ericka Lynn Pullin | officer: GEVP, Culture & People Dev. | −0 | $129.73 |
| Dec 9, 2025 | Coolidge E. JR Rhodes | officer: Group EVP General Counsel/Sec | −700 | $127.00 |
Peers
- JPMorgan Chase
Largest direct rival across Texas consumer, commercial, and wealth banking
- Wells Fargo
Major Texas rival in branch, commercial, mortgage, and wealth banking
- Bank of America
Scaled Texas competitor across retail, commercial, and wealth services
- Prosperity Bancshares
Texas regional rival with broad branch and relationship-banking overlap
- Fifth Third
Expanded Texas rival after combining with Comerica
- Texas Capital
Texas-focused commercial, treasury, and wealth competitor
- Zions Bancorporation
Amegy-led Texas rival in commercial banking and treasury services
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cullen/Frost Bankers | $161.69 | −0.01% | $10.05B | 15.3 | 14.3 | 3.8 | +9.4% |
| JPMorgan Chase | $357.66 | +0.05% | $958.25B | 15.4 | 14.8 | 3.2 | +27.8% |
| Wells Fargo | $86.69 | +0.01% | $262.12B | 12.5 | 11.6 | 2.0 | +8.6% |
| Bank of America | $62.30 | −0.04% | $442.26B | 14.4 | 12.7 | 2.3 | +19.3% |
| Prosperity Bancshares | $72.30 | +0.01% | $8.69B | 12.5 | 10.8 | 4.9 | +25.9% |
| Fifth Third | $54.60 | +0.14% | $49.43B | 18.6 | 11.9 | 3.3 | +45.2% |
| Texas Capital | $98.87 | +0.22% | $4.29B | 12.9 | 12.9 | 2.2 | +9.1% |
| Zions Bancorporation | $67.78 | −0.01% | $9.89B | 8.6 | 10.3 | 1.9 | +4.8% |
| Median | 12.9 | 11.9 | 2.3 | +19.3% |