Corient Private Wealth LP Invests $2.98 Million in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Corient Private Wealth LP acquired 83,901 shares of Cullen/Frost Bankers worth approximately $2.98 million, giving it a 0.13% stake. Institutional investors collectively own 86.90% of the bank.
• Cullen/Frost reported quarterly EPS of $2.70, beating estimates of $2.55, although revenue of $576.01 million fell short of expectations. The company declared a quarterly dividend of $1.03 per share, representing a 2.6% annualized yield.
• Analyst views remain mixed, with the stock holding a consensus “Hold” rating and an average price target of $161.75. CFR recently traded at $158.55, compared with a 52-week range of $119.00 to $170.80.

Corient Private Wealth LP acquired a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 83,901 shares of the bank's stock, valued at approximately $2,985,000. Corient Private Wealth LP owned 0.13% of Cullen/Frost Bankers at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Cullen/Frost Bankers during the 2nd quarter valued at approximately $1,133,453,000. Dimensional Fund Advisors LP lifted its position in shares of Cullen/Frost Bankers by 18.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank's stock worth $209,833,000 after purchasing an additional 236,808 shares during the period. Geode Capital Management LLC lifted its position in shares of Cullen/Frost Bankers by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank's stock worth $155,059,000 after purchasing an additional 10,246 shares during the period. Bank of America Corp DE boosted its stake in shares of Cullen/Frost Bankers by 11.8% in the 1st quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank's stock valued at $165,966,000 after purchasing an additional 127,483 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Cullen/Frost Bankers by 2.3% in the 3rd quarter. Northern Trust Corp now owns 965,821 shares of the bank's stock valued at $122,437,000 after purchasing an additional 21,793 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Carol Jean Severyn sold 837 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.14% of the company's stock.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $158.55 on Wednesday. The company has a fifty day moving average of $161.75 and a 200-day moving average of $147.55. The firm has a market capitalization of $9.85 billion, a P/E ratio of 14.99, a P/E/G ratio of 2.46 and a beta of 0.53. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a twelve month low of $119.00 and a twelve month high of $170.80.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, topping 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 business had revenue of $576.01 million during the quarter, compared to analysts' expectations of $589.72 million. During the same period last year, the company posted $2.39 earnings per share. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.9 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a "sector perform" rating in a research note on Friday, July 31st. Raymond James Financial reaffirmed a "market perform" rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Stephens lifted their price objective on Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods lifted their price objective on Cullen/Frost Bankers from $165.00 to $175.00 and gave the stock an "outperform" rating in a research 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 company a "buy" rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $161.75.

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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