Cullen/Frost Bankers Q3 Profit Increases

Cullen/Frost Bankers, Inc. (CFR) Thursday announced an increase in third-quarter earnings, compared to the prior year.

The company's quarterly earnings were $168.09 million, up from $106.31 million a year ago. On average, 13 analysts polled by Thomson Reuters expected the company to earn $2.23 per share. Analysts estimates usually exclude special items.

Net interest income for the third quarter was $355.55 million compared to $246.12 million in the previous year.

Further, the Cullen/Frost board declared fourth quarter dividend of $0.87 to shareholders on record November 30, payable December 15.

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