SAN ANTONIO (AP) — SAN ANTONIO (AP) — Cullen/Frost Bankers Inc. (CFR) on Thursday reported first-quarter earnings of $135.7 million.
The San Antonio-based bank said it had earnings of $2.06 per share. Earnings, adjusted for non-recurring costs, were $2.15 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.13 per share.
Cullen/Frost shares have risen almost 8% since the beginning of the year. The stock has climbed 13% in the last 12 months.
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