CFRNYSENational Commercial Banks

Cullen/frost Bankers, Inc. (CFR) earnings date, market-implied expected move, and options open interest by expiry

157.51

Closed15:59 ET

Open158.09Volume522,390Mkt cap$9.8BP/E14.65EPS10.75Div yield2.58%

Day156.66 – 158.0960%52-wk115.74 – 169.7177%

CFR

Cullen/frost Bankers, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

No implied move.

Next report

Jan 28

before open · in 89 days

est.Q4 FY26

Calendar

Next report

Last report

+0.53%

shaded = implied · ▲▼ = realized

Oct 29 '26 · confirmed

Implied vs realized

Linked news

3dSPGI · supplierS&P Global Q3 net income $1,240 million, revenue $3,678 million, diluted EPS $4.25
4dCME · supplierCME Group Brazilian Real Futures Set New Daily Volume Record Following Election

News

Largest filed tie

13F top-10 QoQ

+3.94%

shares held · 10 largest managers

13F · Jun 30 '26123d lag

569 managers

Top fund weight

0.27%

CFR weight · MDY

N-PORTJun 30 '26

4 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Cullen/frost Bankers (CFR) is expected to report on Jan 28 before open (estimated date). No implied move.

Implied vs realized

2 reports

—≥ implied

Q2 FY26Jul 30 '26confirmed—▼−2.06%—

Q3 FY26Oct 29 '26confirmed—▲+0.53%—

quarterimplied−5%0+5%realized×

Q3 FY26—▲+0.53%—

Q2 FY26—▼−2.06%—

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 4 expiries · Oct 29 close

4.63OI · 4 expiries · Oct 29 closeP/C open interest · Apr 16 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

290%Nov 2020d0.201460%0.20

7+17%Dec 1848d0.50140%0.50

5200%Jan 1576d0.69756+1%0.69

report · Jan 28 · before open · est.

1110%Apr 16167d240%

ExpiryPutsCallsP/C

Nov 2020d290%1460%0.20

Dec 1848d7+17%140%0.50

Jan 1576d5200%756+1%0.69

report · Jan 28 · before open · est.

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

No implied move.

Linked exposure

Revenue flow

as filedQ3 FY26

29.84%as filednet margin · revenue +4.83% QoQ · +6.45% YoY

Revenue$604M+4.83%

Pre-tax income$215M+4.89%

Net income$180M29.84%+4.74%

Tax$34M+5.69%

Source: SEC filings · standardized · QE Sep 30 '26 · bars = % of revenue

Revenue flow

Intraday

15m bars

Hatch = extended hours · ▯ up · ▮ downSource: market data · 15:45 ET

Intraday

Event sensitivity

FOMC ×1.21· ±1.4% vs ±1.2% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±1.4%10 of 24×1.21

PPIproducer prices±1.1%6 of 11×0.95

PCEpersonal income & outlays±1.1%7 of 19×0.91

CPROFcorporate profits±1.0%5 of 12×0.87

GDPgross domestic product±1.0%8 of 19×0.85

NFPjobs report±0.7%3 of 10×0.57

CPIconsumer prices±0.5%7 of 11×0.41

Bar = avg |move| to ±2% · tick = ±1.2% avg day · ×base = |move| ÷ ±1.2% · min 6 releases

Earnings history

EPS 2.84 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Oct 29 '26 · confirmed	2.84	—
Q2 FY26	Jul 30 '26 · confirmed	2.70	—
Q1 FY26	—	2.65	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod