Oak Harvest Investment Services Increases Stock Position in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Oak Harvest Investment Services increased its stake in Cullen/Frost Bankers by 4.9%, bringing its total holdings to 41,409 shares worth approximately $5.18 million.
• Cullen/Frost Bankers reported earnings of $2.39 per share for the last quarter, exceeding expectations, with revenues of $567.83 million.
• The bank declared a quarterly $1.00 per share dividend, which will be distributed on September 15th, reflecting a 3.1% yield and a payout ratio of 43.06%.

Oak Harvest Investment Services boosted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,409 shares of the bank's stock after buying an additional 1,941 shares during the quarter. Oak Harvest Investment Services owned 0.06% of Cullen/Frost Bankers worth $5,184,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. LaSalle St. Investment Advisors LLC boosted its stake in Cullen/Frost Bankers by 4.0% during the first quarter. LaSalle St. Investment Advisors LLC now owns 2,165 shares of the bank's stock worth $271,000 after buying an additional 84 shares during the period. HB Wealth Management LLC boosted its stake in Cullen/Frost Bankers by 5.7% during the first quarter. HB Wealth Management LLC now owns 1,897 shares of the bank's stock worth $238,000 after buying an additional 102 shares during the period. Xponance Inc. boosted its stake in Cullen/Frost Bankers by 1.6% during the first quarter. Xponance Inc. now owns 7,207 shares of the bank's stock worth $902,000 after buying an additional 113 shares during the period. Fulton Bank N.A. boosted its stake in Cullen/Frost Bankers by 2.6% during the first quarter. Fulton Bank N.A. now owns 5,012 shares of the bank's stock worth $628,000 after buying an additional 126 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Cullen/Frost Bankers by 33.8% during the first quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock worth $65,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Up 3.7%

Shares of CFR opened at $130.8420 on Friday. The company's 50-day simple moving average is $130.13 and its 200-day simple moving average is $127.14. The stock has a market capitalization of $8.42 billion, a PE ratio of 14.08, a P/E/G ratio of 2.76 and a beta of 0.70. Cullen/Frost Bankers, Inc. has a 1 year low of $100.31 and a 1 year high of $147.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.11. The firm had revenue of $567.83 million for the quarter, compared to analysts' expectations of $552.04 million. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. During the same quarter last year, the company earned $2.21 earnings per share. Analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 3.1%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 43.06%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CFR. Raymond James Financial lowered their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Monday, August 4th. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target on the stock in a research report on Friday, May 2nd. Jefferies Financial Group initiated coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price target on the stock. Barclays reduced their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Finally, Royal Bank Of Canada reduced their price target on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $133.71.

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.

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