Cullen/Frost Bankers (CFR) Stock Buyback History
TTM buyback yield 2.61% · Shareholder yield (TTM) 2.61%.
TTM buyback yield
2.61%
Shareholder yield (TTM)
2.61%
5Y share count change
1.7%
TTM buyback spend
$227.53M
SBC coverage (TTM)
8.80x
YoY change in spend
+159.2%
5Y CAGR of spend
-1.0%
Peak year (2020)
$165.78M
Cumulative spend
$982.69M
TTM metrics calculated from the four most recent reported quarters, ending (reported ).
Key takeaways
- Cullen/Frost Bankers (CFR) repurchased about $227.53M of stock over the trailing twelve months.
- Diluted share count is up 1.7% over the last ~5 fiscal years — equity issuance and stock-based compensation are outpacing repurchases.
- TTM buyback ÷ stock-based-comp ratio of 8.80× — repurchases more than cover SBC dilution.
- Cash buyback spend has compounded at -1.0% per year over the latest 5-year window.
- TTM repurchases used about 45% of free cash flow remaining after dividends.
Buyback context per fiscal year
Annual repurchases alongside stock-based compensation, diluted share count and the year-over-year change — useful for SBC-coverage and dilution-offset reading at a glance.
| Year | Buybacks | SBC | Net | Shares (dil.) | YoY shares | Buyback yield |
|---|---|---|---|---|---|---|
| 2025 | $157.83M | $24.75M | $133.08M | 0.06B | -0.3% | 1.96% |
| 2024 | $60.90M | $19.76M | $41.14M | 0.06B | -0.2% | 0.71% |
| 2023 | $42.72M | $24.59M | $18.13M | 0.06B | -0.2% | 0.61% |
| 2022 | $4.39M | $18.32M | −$13.93M | 0.06B | 0.7% | 0.05% |
| 2021 | $3.86M | $12.75M | −$8.89M | 0.06B | 1.7% | 0.05% |
| 2020 | $165.78M | $13.92M | $151.87M | 0.06B | -0.7% | 3.02% |
| 2019 | $68.79M | $15.95M | $52.85M | 0.06B | -1.9% | 1.12% |
| 2018 | $101.01M | $13.94M | $87.07M | 0.06B | 0.0% | 1.81% |
| 2017 | $101.47M | $13.01M | $88.46M | 0.06B | 2.7% | 1.69% |
| 2016 | $1.29M | $11.80M | −$10.51M | 0.06B | -0.8% | 0.02% |
| 2015 | $101.24M | $12.74M | $88.50M | 0.06B | 0.8% | 2.71% |
| 2014 | $1.46M | $12.50M | −$11.05M | 0.06B | 3.0% | 0.03% |
| 2013 | $144.63M | $11.96M | $132.67M | 0.06B | -0.9% | 3.21% |
| 2012 | $436.00K | $12.84M | −$12.40M | 0.06B | 0.6% | 0.01% |
| 2011 | $2.03M | $15.96M | −$13.93M | 0.06B | 1.1% | 0.06% |
| 2010 | $986.00K | $14.93M | −$13.94M | 0.06B | 1.8% | 0.03% |
| 2009 | $800.00K | $12.64M | −$11.85M | 0.06B | 0.6% | 0.03% |
| 2008 | $23.05M | $10.17M | $12.89M | 0.06B | -1.0% | 0.77% |
| 2007 | $0.00 | $0.00 | $0.00 | 0.06B | 5.5% | — |
| 2006 | $0.00 | $0.00 | $0.00 | 0.06B | 5.1% | — |
| 2005 | $0.00 | $0.00 | $0.00 | 0.05B | 1.4% | — |
| 2004 | $0.00 | $0.00 | $0.00 | 0.05B | 1.0% | — |
| 2003 | $0.00 | $0.00 | $0.00 | 0.05B | -0.0% | — |
| 2002 | $0.00 | $0.00 | $0.00 | 0.05B | -1.5% | — |
| 2001 | $0.00 | $0.00 | $0.00 | 0.05B | -0.3% | — |
| 2000 | $0.00 | $0.00 | $0.00 | 0.05B | -2.2% | — |
| 1999 | $0.00 | $0.00 | $0.00 | 0.05B | 0.1% | — |
| 1998 | $0.00 | $0.00 | $0.00 | 0.05B | 0.6% | — |
| 1997 | $0.00 | $0.00 | $0.00 | 0.05B | 0.5% | — |
| 1996 | $0.00 | $0.00 | $0.00 | 0.05B | — | — |
| 1995 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1994 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1993 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1992 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1991 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1990 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1989 | $0.00 | $0.00 | $0.00 | — | — | — |
Cash buyback spend (USD) — annual & quarterly history
Trailing-twelve-month and per-period cash repurchases for Cullen/Frost Bankers (CFR) from the consolidated cash flow statement (line: common stock repurchased), in USD as filed.
Cash buyback spend over time for Cullen/Frost Bankers (CFR)
Per-period cash repurchases
Cash buyback spend annual + quarterly history for Cullen/Frost Bankers (CFR)
| Fiscal year | Period ended | Reported | Buyback Spend | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $157.83M | +159.2% | +$96.93M | ||
| 2024 | $60.90M | +42.6% | +$18.18M | ||
| 2023 | $42.72M | +872.9% | +$38.33M | ||
| 2022 | $4.39M | +13.6% | +$527,000 | ||
| 2021 | $3.86M | -97.7% | -$161.92M | ||
| 2020 | $165.78M | +141.0% | +$96.99M | ||
| 2019 | $68.79M | -31.9% | -$32.22M | ||
| 2018 | $101.01M | -0.5% | -$463,000 | ||
| 2017 | $101.47M | +7766.1% | +$100.18M | ||
| 2016 | $1.29M | -98.7% | -$99.95M | ||
| 2015 | $101.24M | +6848.3% | +$99.78M | ||
| 2014 | $1.46M | -99.0% | -$143.17M | ||
| 2013 | $144.63M | +33072.0% | +$144.19M | ||
| 2012 | $436,000 | -78.5% | -$1.59M | ||
| 2011 | $2.03M | +105.8% | +$1.04M | ||
| 2010 | $986,000 | +23.3% | +$186,000 | ||
| 2009 | $800,000 | -96.5% | -$22.25M | ||
| 2008 | $23.05M | — | +$23.05M | ||
| 2007 | $0 | — | $0 | ||
| 2006 | $0 | — | $0 | ||
| 2005 | $0 | — | $0 | ||
| 2004 | $0 | — | $0 | ||
| 2003 | $0 | — | $0 | ||
| 2002 | $0 | — | $0 | ||
| 2001 | $0 | — | $0 | ||
| 2000 | $0 | — | $0 | ||
| 1999 | $0 | — | $0 | ||
| 1998 | $0 | — | $0 | ||
| 1997 | $0 | — | $0 | ||
| 1996 | $0 | — | $0 | ||
| 1995 | $0 | — | $0 | ||
| 1994 | $0 | — | $0 | ||
| 1993 | $0 | — | $0 | ||
| 1992 | $0 | — | $0 | ||
| 1991 | $0 | — | $0 | ||
| 1990 | $0 | — | $0 | ||
| 1989 | $0 | — | — |
The 2025 reading of Cullen/Frost Bankers (CFR) buyback spend is $157.83M – surged 159.2% year-over-year.
Cullen/Frost Bankers buyback spend compound annual growth for the 2020–2025 (5 years) window is -1.0%, sustaining 4 straight years of year-over-year growth.
Between 2020 and 2025, Cullen/Frost Bankers buyback spend edged down 4.8%, falling from $165.78M to $157.83M.
2020 marks the peak buyback spend at $165.78M, with the historical low of $0 recorded in 1989.
Cullen/Frost Bankers (CFR) sits 8th of 8 Financial Services peers we track on this metric, against a peer median of $12.87B.
Cullen/Frost Bankers Buyback Spend 2025: $157.83M
Cullen/Frost Bankers buyback spend in 2025 was $157.83M, surged 159.2% from 2024.
Cullen/Frost Bankers Buyback Spend 2024: $60.90M
Cullen/Frost Bankers buyback spend in 2024 was $60.90M, surged 42.6% from 2023.
Cullen/Frost Bankers Buyback Spend 2023: $42.72M
Cullen/Frost Bankers buyback spend in 2023 was $42.72M, surged 872.9% from 2022.
Cullen/Frost Bankers Buyback Spend 2022: $4.39M
Cullen/Frost Bankers buyback spend in 2022 was $4.39M, grew 13.6% from 2021.
Cullen/Frost Bankers Buyback Spend 2021: $3.86M
Cullen/Frost Bankers buyback spend in 2021 was $3.86M.
See more financial history for Cullen/Frost Bankers (CFR).
Sector peers by buyback spend
Companies in the same sector as Cullen/Frost Bankers, ranked by their latest buyback spend.
| Company | Buyback Spend | Sector |
|---|---|---|
| JPMorgan Chase (JPM) | $34.59B | Financial Services |
| Bank of America (BAC) | $21.43B | Financial Services |
| Wells Fargo (WFC) | $19.52B | Financial Services |
| Visa (V) | $13.39B | Financial Services |
| Goldman Sachs (GS) | $12.36B | Financial Services |
| Mastercard (MA) | $11.73B | Financial Services |
| Morgan Stanley (MS) | $5.83B | Financial Services |
| Berkshire Hathaway (BRK-B) | $0 | Financial Services |
Share count history
Diluted weighted-average shares drive the EPS denominator and per-share capital-return maths. A falling diluted share count means buybacks are outpacing dilution from stock-based compensation and option exercises.
Diluted vs basic shares (annual)
Year-over-year change in diluted shares
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Dividend & buyback yield over time
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Buybacks vs stock-based compensation
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 8.80×.
Capital allocation mix
How Cullen/Frost Bankers splits cash returned to shareholders between dividends and buybacks, plus the headroom on free cash flow that's still available for additional repurchases.
Buybacks vs dividends (share of cash returned)
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $509.54M (TTM FCF − TTM dividends, clamped at zero).
Data & methodology
Where do buyback, dividend and compensation figures come from?
Cash buyback spend (common stock repurchased), dividends paid and stock-based compensation come from Cullen/Frost Bankers's consolidated cash flow statements — quarterly 10-Q and annual 10-K SEC filings, in USD as reported.
How are diluted shares and yields calculated?
Diluted weighted-average share counts come from the income statement (EPS denominator). Trailing twelve-month (TTM) aggregates sum the four most recent reported quarters. Buyback and dividend yields divide TTM cash flows by market capitalisation at the latest quarter-end.
How is buyback capacity defined?
Capacity compares TTM repurchases to free cash flow after dividends: operating cash flow minus capital expenditure, minus dividends paid, versus actual buybacks over the same trailing window.
Is this investment advice?
No. Figures are for informational and educational use only. Past buybacks and dividends do not predict future returns.
Frequently asked questions
Does Cullen/Frost Bankers buy back its own stock?
Yes, Cullen/Frost Bankers (CFR) has repurchased shares in recent periods. See the history table and charts on this page for amounts and trends.
How much does Cullen/Frost Bankers spend on share buybacks?
Trailing twelve months (TTM) buyback spend is about $227.53M (sum of the last four quarterly cash-flow periods in our data). Figures are illustrative; verify in filings.
What is Cullen/Frost Bankers's buyback yield?
TTM buyback yield is about 2.61% (TTM buyback spend divided by market cap at the latest quarter-end in our data).
What is Cullen/Frost Bankers's shareholder yield?
Shareholder yield combines dividend yield and buyback yield. For the latest period we show approximately 2.61% combined (TTM-based where available).
Is Cullen/Frost Bankers diluting shareholders?
Compare stock-based compensation (SBC) to buybacks in the chart above. Net effect varies by year; see annual buyback vs SBC bars and the history table.
How has Cullen/Frost Bankers's share count changed?
Diluted weighted average shares changed by about 1.7% over roughly five fiscal years (annual income statement data).
What is Cullen/Frost Bankers's buyback spend?
Latest reported buyback spend for Cullen/Frost Bankers (CFR) is $227.53M (period ending March 31, 2026).
How has Cullen/Frost Bankers buyback spend changed year-over-year?
Cullen/Frost Bankers (CFR) buyback spend changed +159.2% year-over-year on the latest annual filing.
What is the long-term growth rate of Cullen/Frost Bankers buyback spend?
Cullen/Frost Bankers (CFR) buyback spend compound annual growth rate is -1.0% over the most recent 5 years available.
When did Cullen/Frost Bankers buyback spend hit its highest annual value?
Cullen/Frost Bankers buyback spend reached its highest annual value of $165.78M in 2020.
What was Cullen/Frost Bankers buyback spend in 2024?
Cullen/Frost Bankers (CFR) buyback spend in 2024 was $60.90M.
What was Cullen/Frost Bankers buyback spend in 2025?
Cullen/Frost Bankers (CFR) buyback spend in 2025 was $157.83M.
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