Cullen/Frost Bankers Profit Climbs To $53.1 Million (CFR)

San Antonio, Texas-based Cullen/Frost Bankers, Inc. CFR released financial results on Wednesday morning. Cullen/Frost Bankers, Inc announced that its 4h quarter net income rose to $53.1 million, or 87 cents per share, up from $51.5 million, or 86 cents per share, a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 88 cents per share. Chairman and CEO Dick Evans said, "While we continue to experience a challenging lending environment, I was especially pleased to see a slight uptick in period-end loans, the first increase we've seen since the fourth quarter of 2008. I believe we are beginning to see the results of our disciplined calling effort, which has produced many new relationships. Today our capital levels continue to be strong – stronger, in fact, than before the economic crisis began. And deposits continue to rise, although at a slower pace, as customers continue to respond to our value proposition." Cullen/Frost Bankers, Inc. (CFR) finished the previous trading day at $61.80 per share. The consensus price target of analysts covering the company's stock is $58.67 per share. Cullen/Frost Bankers, Inc is a financial holding company that provides a full range of commercial and consumer banking products, investment and brokerage services, insurance products and investment banking services. Read more from Benzinga's Company news.