Sendero Wealth Management LLC Invests $1.69 Million in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Sendero Wealth Management LLC bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,470 shares of the bank's stock, valued at approximately $1,686,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CFR. HighTower Advisors LLC increased its stake in shares of Cullen/Frost Bankers by 8.3% during the 4th quarter. HighTower Advisors LLC now owns 13,083 shares of the bank's stock worth $1,756,000 after purchasing an additional 1,003 shares during the last quarter. Entropy Technologies LP bought a new stake in Cullen/Frost Bankers in the fourth quarter valued at approximately $389,000. Vanguard Group Inc. lifted its position in shares of Cullen/Frost Bankers by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank's stock valued at $855,884,000 after buying an additional 66,243 shares during the last quarter. US Bancorp DE increased its holdings in shares of Cullen/Frost Bankers by 15.1% in the fourth quarter. US Bancorp DE now owns 4,339 shares of the bank's stock valued at $583,000 after purchasing an additional 568 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Cullen/Frost Bankers by 42.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,090 shares of the bank's stock valued at $549,000 after purchasing an additional 1,222 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CFR has been the topic of a number of research reports. Stephens upped their price target on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price on the stock in a research report on Friday, May 2nd. Royal Bank of Canada dropped their price target on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Morgan Stanley decreased their price objective on Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, March 13th. Finally, Jefferies Financial Group began coverage on Cullen/Frost Bankers in a report on Wednesday, May 21st. They set an "underperform" rating and a $105.00 target price for the company. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers currently has an average rating of "Hold" and a consensus price target of $131.93.

Cullen/Frost Bankers Stock Up 1.9%

Shares of NYSE:CFR traded up $2.39 during trading on Friday, reaching $128.76. 192,623 shares of the stock were exchanged, compared to its average volume of 464,789. The stock has a fifty day moving average of $120.24 and a two-hundred day moving average of $130.37. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $147.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 6.46 and a beta of 0.67.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.13. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. The firm had revenue of $560.42 million for the quarter, compared to the consensus estimate of $540.57 million. During the same quarter in the prior year, the company posted $2.15 earnings per share. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $1.00 dividend. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date is Friday, May 30th. This represents a $4.00 annualized dividend and a yield of 3.11%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 43.91%.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, CAO Matthew Bradley Henson acquired 1,870 shares of the company's stock in a transaction on Friday, May 2nd. The shares were acquired at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the purchase, the chief accounting officer now owns 5,545 shares in the company, valued at approximately $93,876.85. The trade was a 50.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.89% of the company's stock.

Cullen/Frost Bankers Company 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.