With low funding costs and strong underwriting, Cullen/Frost is set to perform in all environments.
Narrow moat-rated Cullen/Frost reported steady second-quarter results, and we are maintaining our fair value estimate of $80. The bank retained its return on average equity of over 11% and posted a nearly identical return on average assets as the previous quarter, coming in at 1.11%. Expanding net interest margins, mid-single-digit annual loan growth, and lower net charge-off ratios all pointed to the current strength of Cullen/Frost, and a positive economic outlook for Texas points to positive ...Cullen/Frost Bankers is a financial holding company and a bank holding company. Through its subsidiaries, the company provides a range of products and services throughout various Texas markets. The company provides commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services. The company serves a variety of industries including, among others, energy, manufacturing, services, construction, retail, telecommunications, healthcare, military and transportation. The company's reportable operating segments are: Banking and Frost Wealth Advisors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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