Corient Private Wealth LP Has $12.96 Million Stake in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Corient Private Wealth LP increased its Cullen/Frost Bankers stake by 408.9% in the second quarter, bringing its holdings to 83,901 shares valued at approximately $12.96 million. Institutional investors collectively own 86.9% of the company.
• Cullen/Frost reported quarterly EPS of $2.70, surpassing analysts’ $2.55 estimate, though revenue of $576.01 million fell short of the $589.72 million consensus.
• The bank declared a quarterly dividend of $1.03 per share, equal to an annualized $4.12 payout and a 2.5% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $161.75.

Corient Private Wealth LP increased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 408.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,901 shares of the bank's stock after purchasing an additional 67,413 shares during the period. Corient Private Wealth LP owned approximately 0.13% of Cullen/Frost Bankers worth $12,964,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CFR. Man Group plc bought a new stake in Cullen/Frost Bankers during the 2nd quarter valued at $313,000. Polar Asset Management Partners Inc. bought a new position in shares of Cullen/Frost Bankers in the second quarter valued at $1,107,000. Jupiter Topco LLC bought a new position in shares of Cullen/Frost Bankers in the second quarter valued at $94,297,000. Hsbc Holdings PLC acquired a new position in shares of Cullen/Frost Bankers during the second quarter valued at about $7,345,000. Finally, EFG International AG acquired a new position in shares of Cullen/Frost Bankers during the second quarter valued at about $5,906,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $161.90 on Friday. Cullen/Frost Bankers, Inc. has a 1 year low of $119.00 and a 1 year high of $170.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 2.48 and a beta of 0.53. The company has a fifty day moving average price of $161.35 and a 200-day moving average price of $147.36.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly 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 company had revenue of $576.01 million for the quarter, compared to analyst estimates of $589.72 million. During the same period last year, the firm earned $2.39 earnings per share. As a group, equities research analysts predict that Cullen/Frost Bankers, Inc. will post 10.9 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 2.5%. Cullen/Frost Bankers's dividend payout ratio (DPR) is 38.94%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CFR shares. Stephens upped their target price on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Zacks Research upgraded Cullen/Frost Bankers from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Barclays lifted their price target on Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 7th. DA Davidson boosted their price objective on Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. Finally, Cantor Fitzgerald increased their price objective on Cullen/Frost Bankers from $158.00 to $175.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Cullen/Frost Bankers currently has a consensus rating of "Hold" and an average price target of $161.75.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $148.29, for a total transaction of $124,118.73. Following the transaction, the executive vice president owned 12,712 shares of the company's stock, valued at $1,885,062.48. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.14% of the company's stock.

Cullen/Frost Bankers 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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