With strong underwriting and business relationships, Cullen/Frost should perform in all environments
Narrow-moat-rated Cullen/Frost reported steady third-quarter results, and we are increasing our fair value estimate to $83 per share from $80, partially due to the time value of money and partially due to several adjustments to our expense and net interest income forecasts. The bank saw further improvements in its return on average equity and return on average assets, coming in at 11.71% and 1.19%, respectively. These were the best quarterly return results for the bank in over a year.ÂResults w...
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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