Oppenheimer & Co. Inc. Lowers Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Oppenheimer & Co. Inc. lessened its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,293 shares of the bank’s stock after selling 1,726 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cullen/Frost Bankers were worth $1,289,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in Cullen/Frost Bankers by 59.6% during the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock worth $49,000 after acquiring an additional 146 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Cullen/Frost Bankers by 35.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank’s stock valued at $62,000 after buying an additional 120 shares in the last quarter. Parallel Advisors LLC raised its stake in Cullen/Frost Bankers by 33.8% during the first quarter. Parallel Advisors LLC now owns 522 shares of the bank’s stock valued at $65,000 after buying an additional 132 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Cullen/Frost Bankers during the fourth quarter valued at approximately $106,000. Finally, Focus Partners Wealth acquired a new stake in Cullen/Frost Bankers during the fourth quarter valued at approximately $204,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CFR. Barclays increased their price target on Cullen/Frost Bankers from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Jefferies Financial Group began coverage on Cullen/Frost Bankers in a report on Wednesday, May 21st. They issued an “underperform” rating and a $105.00 price objective for the company. Royal Bank Of Canada decreased their price objective on Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Evercore ISI raised Cullen/Frost Bankers from an “underperform” rating to an “in-line” rating and set a $132.00 price objective for the company in a report on Friday, May 2nd. Finally, Stephens increased their price objective on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average price target of $132.08.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $128.95 on Friday. The stock has a fifty day moving average price of $125.01 and a two-hundred day moving average price of $128.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $8.29 billion, a P/E ratio of 14.15, a PEG ratio of 4.91 and a beta of 0.68. Cullen/Frost Bankers, Inc. has a 1 year low of $96.94 and a 1 year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.13. The firm had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. During the same period last year, the company posted $2.15 EPS. Research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, May 30th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a dividend yield of 3.10%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 43.91%.

Insider Transactions at Cullen/Frost Bankers

In related news, CAO Matthew Bradley Henson acquired 1,870 shares of Cullen/Frost Bankers stock in a transaction dated Friday, May 2nd. The stock was acquired at an average cost of $16.93 per share, with a total value of $31,659.10. Following the purchase, the chief accounting officer now directly owns 5,545 shares in the company, valued at $93,876.85. The trade was a 50.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.