Oppenheimer Asset Management Inc. Purchases Shares of 7,548 Cullen/Frost Bankers, Inc. (NYSE:CFR)

Oppenheimer Asset Management Inc. purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,548 shares of the bank’s stock, valued at approximately $1,013,000.

A number of other institutional investors have also made changes to their positions in CFR. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Cullen/Frost Bankers in the third quarter worth $54,012,000. The Manufacturers Life Insurance Company lifted its position in shares of Cullen/Frost Bankers by 117.4% in the third quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank’s stock worth $63,618,000 after purchasing an additional 307,129 shares in the last quarter. Barclays PLC lifted its position in shares of Cullen/Frost Bankers by 234.5% in the third quarter. Barclays PLC now owns 436,393 shares of the bank’s stock worth $48,814,000 after purchasing an additional 305,921 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Cullen/Frost Bankers by 13,334.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 281,860 shares of the bank’s stock worth $37,840,000 after purchasing an additional 279,762 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its position in shares of Cullen/Frost Bankers by 7.7% in the third quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock worth $381,897,000 after purchasing an additional 244,445 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Insider Activity

In other news, insider Paul Bracher sold 11,500 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 102,946 shares of the company’s stock, valued at approximately $14,355,819.70. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.89% of the stock is currently owned by company insiders.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $130.96 on Wednesday. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $147.64. The company has a market cap of $8.41 billion, a P/E ratio of 14.76, a P/E/G ratio of 6.46 and a beta of 0.99. The firm’s fifty day moving average price is $138.67 and its two-hundred day moving average price is $129.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.68 and a quick ratio of 0.68.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, beating the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.90%. Cullen/Frost Bankers’s payout ratio is presently 42.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CFR. Royal Bank of Canada reissued a “sector perform” rating and issued a $144.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Evercore ISI boosted their target price on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a report on Monday, February 10th. Compass Point boosted their target price on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. DA Davidson downgraded shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $138.00 to $143.00 in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target 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.