US · USD

CFR

Cullen/Frost Bankers Inc

$152.96-0.57% (-$0.87)Updated 10/6/26, 5:00 PM

Day's range: $151.99 – $154.76
Day's volume: $52.7M
52-week range: $116.42 – $169.00

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CFR in numbers

Market cap: $9.5B

P/E: 13.90

P/B: 2.06

Dividend yield (12m): 2.65%

The 12-month dividend yield of CFR is 2.65%, below its 5-year average of 2.79%.

CFR price history

10/07/202510/06/2026

Compare with

CFR risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+26.25%	+69.29%	+40.09%
Volatility (annualized)	20.63%	21.69%	24.73%
Largest drawdown	-7.63%	-16.59%	-39.50%
Positive months	7/12	19/36	31/60

How much did investing in CFR return?

Amount invested

$1,000.00 invested on 11/01/2021 would be worth $1,400.90 today.

Value today in CFR: $1,400.90

Return over the period: +40.09%

Return per year: +7.08%

In the S&P 500: $1,712.05

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

CFR fundamentals

Valuation

P/E13.90
P/B2.06
EV/EBITDA—
EV/EBIT—
EV/Revenue73.05
P/EBIT—
P/S73.05
P/OCF13.21
P/FCF17.56
Earnings yield—
PEG ratio—
Earnings per share$11.00
Book value per share$74.38

Efficiency

Gross margin—
EBITDA margin—
Operating margin—
Net margin525.36%
Asset turnover0.00

Profitability

ROE14.79%
ROA1.27%
ROIC—
Payout36.91%

Growth

Revenue CAGR (5 years)10.09%
Earnings CAGR (5 years)10.37%
Revenue growth (year)—
Earnings growth (year)—
Revenue growth (quarter)—
Earnings growth (quarter)—

What is CFR's fair price?

Two classic value formulas, with today's numbers. The current price is $152.96.

Graham's fair price: $135.68; 11.29% below the price

√(22.50 × $11.00 × $74.38)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price: $58.17; 61.97% below the price

$3.49 (5-year average) ÷ 6%

Décio Bazin only bought stocks yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years over 6%.

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

CFR's indicators by year

Multiples at each year's closing price; margins and returns from that year's statements.

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	12.34	14.80	11.65	14.86	18.22	16.64	13.82	12.18
P/B	1.75	2.21	1.87	2.74	1.82	1.28	1.57	1.64
Dividend yield	3.12%	2.79%	3.30%	2.42%	2.33%	3.27%	2.86%	2.93%
Earnings per share	$10.26	$9.07	$9.31	$9.00	$6.92	$5.24	$7.08	$7.22
Book value per share	$72.36	$60.69	$57.89	$48.74	$69.34	$67.96	$62.41	$53.48
ROE	14.18%	14.94%	16.09%	18.46%	9.98%	7.71%	11.34%	13.50%
Net margin	533.48%	548.38%	639.52%	630.26%	531.96%	409.47%	498.52%	534.03%

CFR's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	$121.6M	$106.2M	$93.5M	$91.9M	$83.3M	$80.9M
Cost of revenue	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—
EBITDA	—	—	—	—	—	—
EBIT	—	—	—	—	—	—
Financial result	—	—	—	—	—	—
Income before tax	$771.7M	$696M	$712.4M	$668.8M	$489.5M	$351.3M
Income tax	-$123.1M	-$113.4M	-$114.4M	-$89.7M	-$46.5M	-$20.2M
Net income	$648.6M	$582.5M	$598M	$579.2M	$443.1M	$331.2M

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does CFR pay dividends?

Dividend yield per year

2.38%2017
2.93%2018
2.86%2019
3.27%2020
2.33%2021
2.42%2022
3.30%2023
2.79%2024
3.12%2025
2.00%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	08/28/2026	09/15/2026	$1.03
Dividend	05/28/2026	06/15/2026	$1.03
Dividend	02/26/2026	03/13/2026	$1.00
Dividend	11/27/2025	12/15/2025	$1.00
Dividend	08/28/2025	09/15/2025	$1.00
Dividend	05/29/2025	06/13/2025	$1.00
Dividend	02/27/2025	03/14/2025	$0.95
Dividend	11/28/2024	12/13/2024	$0.95
Dividend	08/29/2024	09/13/2024	$0.95
Dividend	05/30/2024	06/14/2024	$0.92
Dividend	02/27/2024	03/15/2024	$0.92
Dividend	11/28/2023	12/15/2023	$0.92

See all 40 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	08/29/2023	09/15/2023	$0.92
Dividend	05/29/2023	06/15/2023	$0.87
Dividend	02/24/2023	03/15/2023	$0.87
Dividend	11/28/2022	12/15/2022	$0.87
Dividend	08/29/2022	09/15/2022	$0.87
Dividend	05/26/2022	06/15/2022	$0.75
Dividend	02/24/2022	03/15/2022	$0.75
Dividend	11/26/2021	12/15/2021	$0.75
Dividend	08/27/2021	09/15/2021	$0.75
Dividend	05/26/2021	06/15/2021	$0.72
Dividend	02/24/2021	03/15/2021	$0.72
Dividend	11/26/2020	12/15/2020	$0.72
Dividend	08/27/2020	09/15/2020	$0.71
Dividend	05/27/2020	06/15/2020	$0.71
Dividend	02/26/2020	03/13/2020	$0.71
Dividend	11/26/2019	12/13/2019	$0.71
Dividend	08/28/2019	09/13/2019	$0.71
Dividend	05/29/2019	06/14/2019	$0.71
Dividend	02/26/2019	03/15/2019	$0.67
Dividend	11/28/2018	12/14/2018	$0.67
Dividend	08/29/2018	09/14/2018	$0.67
Dividend	05/29/2018	06/15/2018	$0.67
Dividend	02/26/2018	03/15/2018	$0.57
Dividend	11/28/2017	12/15/2017	$0.57
Dividend	08/28/2017	09/15/2017	$0.57
Dividend	05/25/2017	06/15/2017	$0.57
Dividend	02/23/2017	03/15/2017	$0.54
Dividend	11/25/2016	12/15/2016	$0.54

About Cullen/frost Bankers

Sector: Finance, insurance and real estate

Questions about CFR

How much is CFR today?

CFR is at $152.96 (-0.57% on the day), last traded on 10/06/2026.

How much did CFR pay in dividends in 2025?

CFR paid $3.95 per share in 2025, a dividend yield of 3.12%.

What are the P/E and P/B of CFR?

CFR trades at a P/E of 13.90 and a P/B of 2.06.

How much did CFR return in 12 months?

CFR returned 26.25% in 12 months, with annualized volatility of 20.63% and a largest drawdown of -7.63%.