Oppenheimer Asset Management Inc. Invests $1.01 Million in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Oppenheimer Asset Management Inc. acquired a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,548 shares of the bank's stock, valued at approximately $1,013,000.

A number of other large investors have also recently added to or reduced their stakes in CFR. Champlain Investment Partners LLC raised its holdings in shares of Cullen/Frost Bankers by 7.7% during 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 during the period. Montrusco Bolton Investments Inc. raised its holdings in shares of Cullen/Frost Bankers by 10.2% during the third quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank's stock worth $135,252,000 after purchasing an additional 111,719 shares during the period. Geode Capital Management LLC raised its holdings in shares of Cullen/Frost Bankers by 6.4% during the third quarter. Geode Capital Management LLC now owns 1,097,697 shares of the bank's stock worth $122,820,000 after purchasing an additional 66,223 shares during the period. Boston Trust Walden Corp raised its holdings in shares of Cullen/Frost Bankers by 9.8% during the fourth quarter. Boston Trust Walden Corp now owns 1,052,290 shares of the bank's stock worth $141,270,000 after purchasing an additional 94,252 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Cullen/Frost Bankers by 2.0% during the fourth quarter. Principal Financial Group Inc. now owns 822,432 shares of the bank's stock worth $110,418,000 after purchasing an additional 16,223 shares during the period. 86.90% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of analysts have weighed in on CFR shares. Keefe, Bruyette & Woods increased 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. DA Davidson cut shares of Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and increased their target price for the stock from $138.00 to $143.00 in a report on Monday, February 3rd. Compass Point increased their price objective 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. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $144.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, January 31st. Finally, Evercore ISI increased their price objective 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. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of "Hold" and a consensus price target of $132.54.

Cullen/Frost Bankers Price Performance

Shares of CFR stock traded up $1.46 during mid-day trading on Friday, hitting $129.32. 410,655 shares of the stock traded hands, compared to its average volume of 423,016. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $147.64. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 6.46 and a beta of 0.99. The company's 50-day simple moving average is $138.14 and its 200-day simple moving average is $129.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.68 and a current ratio of 0.68.

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

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, February 28th. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 42.84%.

Insider Activity

In other news, insider Paul Bracher sold 11,500 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the completion of the sale, the insider now directly owns 102,946 shares of the company's stock, valued at $14,355,819.70. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.89% of the stock is owned by insiders.

Cullen/Frost Bankers 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.