Oppenheimer & Co. Inc. Acquires 2,824 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Oppenheimer & Co. Inc. grew its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 30.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,019 shares of the bank’s stock after acquiring an additional 2,824 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cullen/Frost Bankers were worth $1,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Oppenheimer Asset Management Inc. bought a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at approximately $1,013,000. Oregon Public Employees Retirement Fund lifted its position in Cullen/Frost Bankers by 0.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,088 shares of the bank’s stock worth $1,757,000 after purchasing an additional 100 shares during the period. Bank of New York Mellon Corp lifted its position in Cullen/Frost Bankers by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 611,722 shares of the bank’s stock worth $82,124,000 after purchasing an additional 14,422 shares during the period. Impax Asset Management Group plc acquired a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth about $15,439,000. Finally, Bradley Foster & Sargent Inc. CT increased its holdings in shares of Cullen/Frost Bankers by 3.9% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 5,250 shares of the bank’s stock worth $705,000 after buying an additional 198 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Paul Bracher sold 11,500 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the transaction, the insider now directly owns 102,946 shares of the company’s stock, valued at approximately $14,355,819.70. This represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of CFR stock opened at $134.88 on Tuesday. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $147.64. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 6.46 and a beta of 0.99. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average of $138.66 and a 200-day moving average of $129.00.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. On average, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Friday, February 28th. Cullen/Frost Bankers’s payout ratio is presently 42.84%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $144.00 target price on shares of Cullen/Frost Bankers in a report on Friday, January 31st. Compass Point boosted their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their target price on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Evercore ISI upped their target price on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the company an “underperform” rating in a research report on Monday, February 10th. Finally, Citigroup upped their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average target price of $132.54.

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.