Cullen/Frost Bankers Q2 Profit Increases

(RTTNews) - Cullen/Frost Bankers, Inc. (CFR) Thursday reported a surge in second-quarter earnings to $162.12 million from $119.11 million a year ago. On a per-share basis, earnings were $2.47, up from $1.81 in the prior year. On average, 16 analysts polled by Thomson Reuters expected the company to earn $2.4 per share. Analysts estimates usually exclude special items.

Net interest income was $385.27 million, up from $288.21 million in the previous year. Non-interest income was $103.53 million, compared to $97.93 million in the prior year. Wall Street was looking for $500.41 million.