With low funding costs and strong underwriting, Cullen/Frost should weather any near-term headwinds.
Narrow-moat-rated Cullen/Frost reported solid first-quarter results, and we are increasing our fair value estimate to $75 from $67. The bank continues to improve its return on average equity and return on average assets, coming in at 11.55% and 1.12% respectively.Pressure from loans to the energy industry continued to ease as provisioning and overall delinquencies both declined quarter over quarter, and economic data from Texas was generally upbeat. While unemployment rates ticked up slightly,...
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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