Corient Private Wealth LP Purchases New Shares in Cullen/Frost Bankers, Inc. $CFR

Corient Private Wealth LP acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 83,901 shares of the bank’s stock, valued at approximately $2,985,000.

Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of Cullen/Frost Bankers in the third quarter valued at about $28,000. Covestor Ltd lifted its position in shares of Cullen/Frost Bankers by 67.6% during the fourth quarter. Covestor Ltd now owns 248 shares of the bank’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Cullen/Frost Bankers during the second quarter valued at about $37,000. Global Retirement Partners LLC purchased a new position in Cullen/Frost Bankers during the second quarter worth about $38,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Cullen/Frost Bankers during the first quarter worth about $41,000. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $158.55 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 2.46 and a beta of 0.53. Cullen/Frost Bankers, Inc. has a 52 week low of $119.00 and a 52 week high of $170.80. The firm’s 50-day simple moving average is $161.75 and its two-hundred day simple moving average is $147.55.

Cullen/Frost Bankers (NYSE:CFR) last released its 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 net margin of 23.34% and a return on equity of 15.55%. The firm had revenue of $576.01 million during the quarter, compared to the consensus estimate of $589.72 million. During the same period in the prior year, the firm earned $2.39 EPS. As a group, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 10.9 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $1.03 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.12 annualized dividend and a yield of 2.6%. Cullen/Frost Bankers’s dividend payout ratio is presently 38.94%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CFR shares. Raymond James Financial restated a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 15th. Zacks Research raised Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada lifted their price target on Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Finally, TD Cowen boosted their price objective on Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and an average target price of $161.75.

Insiders Place Their Bets

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

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.