SAN ANTONIO (AP) — SAN ANTONIO (AP) — Cullen/Frost Bankers Inc. (CFR) on Thursday reported fourth-quarter earnings of $102.6 million.
The San Antonio-based bank said it had earnings of $1.55 per share. Earnings, adjusted for non-recurring costs, came to $2.18 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.01 per share.
For the year, the company reported profit of $598 million, or $9.10 per share. Revenue was reported as $2.08 billion.
Cullen/Frost shares have increased slightly since the beginning of the year. The stock has declined 20% in the last 12 months.
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