Cullen/Frost Had a Strong Start to 2019
Narrow-moat-rated Cullen/Frost Bankers reported a good first quarter of 2019, as the bank’s consistent strategy of conservative underwriting continues to deliver shareholder returns. Earnings per share came in at $1.79, down 2% from the fourth quarter because of a seasonal uptick in compensation expenses and slight weakness in interest income. After adjusting our model for quarterly results, we are maintaining our fair value estimate of $99 per share for this high-quality bank.Cullen/Frost’s de...
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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