Cullen/Frost Bankers Q3 Profit Declines, But Beats Estimates - Quick Facts

(RTTNews) - Cullen/Frost Bankers, Inc. (CFR) on Thursday reported that its net income available to common shareholders for the third quarter was $95.06 million or $1.50 per share, down from $109.82 million or $1.73 per share in the year-ago quarter.

Net interest income on a taxable-equivalent basis was $267.0 million, down 3.5 percent compared to the year-ago period. Non-interest income declined 6.3 percent from the prior-year quarter to $83.6 million.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.20 per share on revenues of $355.23 million for the quarter.

Cullen/Frost's board declared a fourth-quarter cash dividend of $0.72 per common share, payable December 15, 2020 to shareholders of record on November 30 of this year.