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Cullen/Frost Bankers Inc CFR

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Stock XNYS Rating as of
$156.86 +1.71 (1.10%)
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As of Delayed Price Closed

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Slightly Decreasing Our Fair Value Estimate for Narrow-Moat Cullen/Frost to $139 from $140

Maoyuan Chen, Dev Patel

Cullen/Frost is a United States regional bank operating exclusively in the Texas market. The bank has a history of weathering market downturns and remaining firm throughout pressured economic environments. For example, Cullen/Frost exited retail mortgage lending in 2000 and rejected government assistance during the global financial crisis. The bank has also navigated energy downturns in 2016 and the coronavirus pandemic, despite having 100% Texas and high energy exposure.

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Price vs Fair Value

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CFR is trading at a LOCK|^gs?@! premium.
Price
$156.86
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Texas is one of the fastest-growing states, by population and economy, which is beneficial to Cullen/Frost.

Bears

Cullen/Frost's lack of scale can limit some growth opportunities compared with its larger competitors with a national presence.

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Trading Information

Previous Close Price
$155.15
Day Range
$155.51–157.69
52-Week Range
$119.00–157.69
Bid/Ask
$62.77 / $161.69
Shares Outstanding
62.80M
Market Cap
$9.85B
Volume/Avg
461,052 / 571,194

Key Statistics

Price/Earnings (Normalized)
15.32
Price/Sales
4.42
Dividend Yield (Trailing)
2.57%
Dividend Yield (Forward)
2.63%
Total Yield
4.88%

Company Profile

Cullen/Frost is a regional US bank with around $52 billion in assets (as of March 2026), and it focuses exclusively on the Texas market. The bank has deep expertise in this market. It has implemented a relationship-based banking approach that has garnered a strong market share in San Antonio. Cullen/Frost is also expanding into Houston, Dallas, and Austin market regions through targeted branch openings rather than acquisitions. The bank's sweet spot is small to medium-sized Texas-based commercial clients.
Sector
Financial Services
Industry
Banks - Regional
Stock Style Box
Small Core
Total Number of Employees
6,008
Website
https://www.frostbank.com

Competitors

Valuation

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Metric
CFR
FITB
RF
Price/Earnings (Normalized)
 15.3215.4712.65
Price/Book Value
 2.251.641.50
Price/Sales
 4.424.343.56
Price/Cash Flow
 12.1312.469.82
Price/Earnings
CFR
FITB
RF

Financial Strength

Metric
CFR
FITB
RF
Quick Ratio
 ———
Current Ratio
 ———
Interest Coverage
 ———
Quick Ratio
No chart available

Profitability

Metric
CFR
FITB
RF
Return on Assets (Normalized)
 1.32%1.20%1.39%
Return on Equity (Normalized)
 16.30%12.70%12.78%
Return on Invested Capital (Normalized)
 ———
Return on Assets
CFR
FITB
RF

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