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Stock impact report

Cullen/Frost Q3 Earnings Surpass Estimates, Expenses Rise Y/Y [Yahoo! Finance]

Cullen/Frost Bankers, Inc. (CFR) 
Last cullen/frost bankers, inc. earnings: 4/30 09:00 am Check Earnings Report
US:NYSE Investor Relations: frostbank.com/investor-relations
Company Research Source: Yahoo! Finance
Nonetheless, the bottom line surpassed the Zacks Consensus Estimate by 3.7%. Find the latest earnings estimates and surprises on the Zacks Earnings Calendar. Results were primarily aided by a rise in non-interest income and net interest income (NII), alongside higher loan balances in the quarter. However, a rise in non-interest expenses and credit loss expenses were significant drags. Lower deposits were other negatives. The company reported net income available to its common shareholders of $144.8 million, down from $153.9 million in the prior-year quarter. The company's total revenues were $538.9 million in the third quarter, up 4.9% year over year. Also, the top line surpassed the Zacks Consensus Estimate by 3%. NII on a taxable-equivalent basis increased 2.2% to $425.2 million year over year. Nonetheless, the net interest margin (NIM) expanded 12 basis points (bps) year over year to 3.56%. Our estimates for NII and NIM were $415.7 million and 3.55%, respectively. Non-i Show less Read more
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