Cullen/Frost Bankers Q3 Net Income Declines - Quick Facts

(RTTNews) - Cullen/Frost Bankers, Inc. (CFR) reported third quarter net income available to shareholders of $154.0 million compared to $168.1 million, prior year. On a per-share basis, net income was $2.38 compared to $2.59, a year ago. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $2.15, for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, net interest income on a taxable-equivalent basis was $407.4 million, up 7.3 percent compared to the same quarter in 2022. Non-interest income was $106.0 million, an increase of 6.2 percent, from the $99.8 million. Analysts on average had estimated $490.35 million in revenue.

The Cullen/Frost board declared a fourth-quarter cash dividend of $0.92 per common share. The dividend on common stock is payable December 15, 2023 to shareholders of record on November 30.

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