Solid 3Q Results for Cullen/Frost as the Bank Plans a New Expansion Into Houston
Cullen/Frost reported decent third-quarter 2018 results, with return on average assets improving to 1.49% and the return on average common equity improving to 14.4%. Both again were some of the best results we have seen since the global financial crisis. After making some minor adjustments to our model, we are decreasing our fair value estimate to $102 from $107. This is 2.6 times tangible book value as of September 2018.Net interest income steadily increased 1.8% over last quarter, and fee in...
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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