Cullen/Frost Bankers Q1 Net Income Rises

(RTTNews) - Cullen/Frost Bankers, Inc. (CFR) reported first quarte net income available to common shareholders of $113.9 million, compared to $47.2 million, last year. Net income per share was $1.77 compared to $0.75. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $1.43, for the quarter. Analysts' estimates typically exclude special items.

First quarter net interest income on a taxable-equivalent basis was $263.9 million, down 1.7 percent compared to prior year. Non-interest income was $93.2 million, compared to $212.9 million. Analysts expected revenue of $355.41 million, for the quarter.

The Cullen/Frost board declared a second-quarter cash dividend of $0.72 per common share, payable June 15, 2021 to shareholders of record on May 28.