Corient Private Wealth LLC Acquires 33,697 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• Corient Private Wealth LLC increased its stake in Cullen/Frost Bankers by 199.8% in the fourth quarter, buying 33,697 additional shares and bringing its total to 50,560 shares worth about $6.4 million.
• Cullen/Frost Bankers reported better-than-expected quarterly earnings of $2.65 per share, topping estimates of $2.49, though revenue came in slightly below analyst expectations.
• The bank raised its quarterly dividend to $1.03 per share from $1.00, implying an annualized payout of $4.12 and a dividend yield of about 2.7%.

Corient Private Wealth LLC increased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 199.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,560 shares of the bank's stock after acquiring an additional 33,697 shares during the period. Corient Private Wealth LLC owned about 0.08% of Cullen/Frost Bankers worth $6,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in Cullen/Frost Bankers by 61.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank's stock valued at $75,833,000 after buying an additional 230,993 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Cullen/Frost Bankers by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank's stock worth $20,896,000 after acquiring an additional 15,063 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Cullen/Frost Bankers by 40.8% during the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank's stock worth $46,000 after acquiring an additional 106 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Cullen/Frost Bankers by 12.2% during the second quarter. Invesco Ltd. now owns 126,040 shares of the bank's stock valued at $16,201,000 after acquiring an additional 13,718 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Cullen/Frost Bankers by 82.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank's stock valued at $151,000 after acquiring an additional 532 shares during the period. Institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Up 1.6%

Shares of NYSE CFR opened at $153.24 on Friday. The firm's 50-day simple moving average is $141.47 and its 200 day simple moving average is $138.26. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 3.80 and a beta of 0.55. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 12-month low of $119.00 and a 12-month high of $153.81.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. The firm had revenue of $574.84 million during the quarter, compared to analysts' expectations of $587.28 million. During the same quarter last year, the company posted $2.30 EPS. On average, research analysts expect that Cullen/Frost Bankers, Inc. will post 10.54 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $1.03 dividend. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, May 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is 40.12%.

Insiders Place Their Bets

In related news, EVP Carol Jean Severyn sold 837 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the transaction, the executive vice president owned 12,712 shares in the company, valued at $1,885,062.48. The trade was a 6.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CFR has been the topic of several analyst reports. Barclays upped their target price on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 7th. Weiss Ratings raised shares of Cullen/Frost Bankers from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. Cantor Fitzgerald restated a "neutral" rating on shares of Cullen/Frost Bankers in a research report on Monday, June 1st. Stephens raised shares of Cullen/Frost Bankers from an "equal weight" rating to an "overweight" rating and set a $164.00 price objective on the stock in a research note on Tuesday, May 5th. Finally, DA Davidson raised their price objective on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $148.73.

Cullen/Frost Bankers Company Profile

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.

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