Oppenheimer Asset Management Inc. Buys Shares of 10,420 Cullen/Frost Bankers, Inc. $CFR

Oppenheimer Asset Management Inc. purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 10,420 shares of the bank’s stock, valued at approximately $1,610,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in Cullen/Frost Bankers by 61.6% in the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after acquiring an additional 230,993 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cullen/Frost Bankers by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock worth $20,896,000 after acquiring an additional 15,063 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after purchasing an additional 106 shares during the period. Invesco Ltd. raised its position in Cullen/Frost Bankers by 12.2% in the second quarter. Invesco Ltd. now owns 126,040 shares of the bank’s stock valued at $16,201,000 after purchasing an additional 13,718 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Cullen/Frost Bankers by 82.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank’s stock valued at $151,000 after purchasing an additional 532 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

CFR has been the subject of a number of research analyst reports. Cantor Fitzgerald increased their price target on Cullen/Frost Bankers from $154.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Royal Bank Of Canada boosted their price objective on shares of Cullen/Frost Bankers from $168.00 to $176.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. Citigroup upped their target price on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Stephens increased their target price on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $160.33.

Insider Buying and Selling

In related news, EVP Carol Jean Severyn sold 837 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the completion of the transaction, the executive vice president directly owned 12,712 shares in the company, valued at $1,885,062.48. This trade represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.14% of the stock is owned by company insiders.

Cullen/Frost Bankers Stock Down 0.1%

Shares of NYSE CFR opened at $169.96 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $157.51 and its two-hundred day moving average is $145.69. Cullen/Frost Bankers, Inc. has a 52-week low of $119.00 and a 52-week high of $170.35. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 2.63 and a beta of 0.53.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, topping the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.The business had revenue of $608.65 million during the quarter, compared to analyst estimates of $589.72 million. During the same period last year, the business posted $2.39 earnings per share. Research analysts predict that Cullen/Frost Bankers, Inc. will post 10.8 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.12 annualized dividend and a yield of 2.4%. Cullen/Frost Bankers’s dividend payout ratio is presently 38.94%.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.