Oak Harvest Investment Services Buys 1,941 Shares of 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 Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,409 shares of the bank's stock after acquiring an additional 1,941 shares during the period. Oak Harvest Investment Services owned 0.06% of Cullen/Frost Bankers worth $5,184,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its position in Cullen/Frost Bankers by 690.1% during the fourth quarter. NewEdge Advisors LLC now owns 2,797 shares of the bank's stock valued at $376,000 after buying an additional 2,443 shares during the period. First Trust Advisors LP lifted its position in Cullen/Frost Bankers by 28.9% during the fourth quarter. First Trust Advisors LP now owns 143,614 shares of the bank's stock valued at $19,280,000 after buying an additional 32,203 shares during the period. Dimensional Fund Advisors LP lifted its position in Cullen/Frost Bankers by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,026,585 shares of the bank's stock valued at $137,823,000 after buying an additional 6,159 shares during the period. OneDigital Investment Advisors LLC purchased a new position in Cullen/Frost Bankers during the fourth quarter valued at $450,000. Finally, Stifel Financial Corp lifted its position in Cullen/Frost Bankers by 6.3% during the fourth quarter. Stifel Financial Corp now owns 52,607 shares of the bank's stock valued at $7,062,000 after buying an additional 3,133 shares during the period. Institutional investors own 86.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stephens lifted their price target on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Royal Bank Of Canada lowered their price target on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Barclays lowered their price target on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Jefferies Financial Group assumed coverage on Cullen/Frost Bankers in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price target for the company. Finally, Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target for the company in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $133.71.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock traded up $0.12 during trading hours on Friday, reaching $129.96. 101,781 shares of the stock traded hands, compared to its average volume of 441,814. The company has a 50 day moving average price of $130.77 and a 200 day moving average price of $126.99. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 2.77 and a beta of 0.70. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.28 by $0.11. The business had revenue of $567.83 million during the quarter, compared to the consensus estimate of $552.04 million. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.During the same period in the previous year, the company posted $2.21 EPS. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

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

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.