Cullen/Frost Bankers, Inc. (CFR)
Financials · NYQ
Price as at 1 Oct 2026, 22:54 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
Cullen/Frost Bankers, Inc. trades at $153.48, which is 109% below the $321.14 our fair value estimate puts on the business. On that measure alone it screens as undervalued, though a valuation model is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 49 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 15.3 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
CFR dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | $3.06 | 3 |
| 2025 | $3.95 | 4 |
| 2024 | $3.74 | 4 |
| 2023 | $3.58 | 4 |
| 2022 | $3.24 | 4 |
| 2021 | $2.94 | 4 |
| 2020 | $2.85 | 4 |
| 2019 | $2.80 | 4 |
| 2018 | $2.58 | 4 |
| 2017 | $2.25 | 4 |
| 2016 | $2.15 | 4 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
CFR earnings and analyst estimates
Recommendation mix, 15 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Cullen/Frost Bankers, Inc.
Cullen/Frost Bankers, Inc. operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services. It also provides consumer banking services, such as checking accounts, automated-teller machines (ATMs), overdraft facilities, installment and real estate loans, first mortgage loans, home equity loans and lines of credit, drive-in and night deposit services, safe deposit facilities, and brokerage services. In addition, the company offers international banking services comprising deposits, loans, letters of credit, foreign collections, funds transmitting, and foreign exchange services; correspondent banking activities, including check clearing, transfer of funds, fixed income security services, and securities custody and clearance services. Further, it offers trust, investment, agency, and custodial services for individual and corporate clients; capital market services that include sales and trading, new issue underwriting, money market trading, advisory, and securities safekeeping and clearance; and support for international business activities, including foreign exchange, letters of credit, export-import financing, and other related activities. Additionally, the company offers insurance and securities brokerage services; holding of securities for investment purposes; and investment management services for mutual funds, institutions, and individuals. It serves energy, manufacturing, services, construction, retail, telecommunications, healthcare, military, and transportation industries. Cullen/Frost Bankers, Inc. was founded in 1868 and is headquartered in San Antonio, Texas.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
CFR passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
12 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- First Eagle, First Eagle Investment Management, LLC$429.20M · 0.7% of book
- Baillie Gifford, BAILLIE GIFFORD & CO$345.09M · 0.3% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$176.82M · 0.1% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$37.22M · 0.0% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$33.38M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
CFR peers
The largest companies in the same industry (Banks - Regional), then in the same sector.
- HDB HDFC Bank Limited
- IBN ICICI Bank Limited
- CIXPF CaixaBank, S.A.
- ITUB Itaú Unibanco Holding S.A.
- NWG NatWest Group plc
- DB Deutsche Bank Aktiengesellschaft
- NU Nu Holdings Ltd.
- CRARF Crédit Agricole S.A.
Every financials company we cover is on the Financials hub.
Common questions
Is Cullen/Frost Bankers, Inc. (CFR) undervalued?
Against our fair value estimate of $321.14, CFR at $153.48 is 109% below fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
Which funds own CFR?
12 of the institutions we track reported a position in CFR in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is CFR's P/E ratio?
CFR trades at 15.3 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Cullen/Frost Bankers, Inc. (CFR) pay a dividend?
Yes. Cullen/Frost Bankers, Inc. yields 2.61% at the current share price. It has paid $4.06 per share over the trailing twelve months. It has paid a dividend in each of the last 32 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
Where does SteadyShares get its CFR data?
Fundamentals for CFR come from company filings and exchange data, as listed on NYQ; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 1 Oct 2026, 22:54 UTC and is delayed. Our data quality score for this company is 88/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for CFR, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.