Oppenheimer Asset Management Inc. Makes New Investment in 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 firm purchased 10,420 shares of the bank’s stock, valued at approximately $1,610,000.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth $92,904,000. Two Sigma Investments LP boosted its holdings in Cullen/Frost Bankers by 2,024.4% in the third quarter. Two Sigma Investments LP now owns 373,977 shares of the bank’s stock valued at $47,409,000 after purchasing an additional 356,373 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Cullen/Frost Bankers by 16,676.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 353,470 shares of the bank’s stock valued at $44,760,000 after purchasing an additional 351,363 shares during the period. Dimensional Fund Advisors LP grew its stake in Cullen/Frost Bankers by 18.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after purchasing an additional 236,808 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Cullen/Frost Bankers during the 3rd quarter worth $29,687,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $169.96 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $157.51 and a 200 day moving average price of $145.69. The company has a market cap of $10.56 billion, a P/E ratio of 16.06, a PEG ratio of 2.63 and a beta of 0.53. Cullen/Frost Bankers, Inc. has a 12 month low of $119.00 and a 12 month high of $170.35.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $608.65 million for the quarter, compared to analysts’ expectations of $589.72 million. During the same period last year, the firm earned $2.39 earnings per share. Sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 10.8 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays upped their price target on Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Morgan Stanley lifted their price objective on Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an “underweight” rating in a research note on Monday, June 29th. Zacks Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Raymond James Financial restated a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. Finally, DA Davidson raised their target price on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average target price of $160.33.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Carol Jean Severyn sold 837 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the transaction, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. This represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.14% of the company’s stock.

Cullen/Frost Bankers Company Profile

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.