SkyOak Wealth LLC Purchases Shares of 1,845 Cullen/Frost Bankers, Inc. (NYSE:CFR)

SkyOak Wealth LLC purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,845 shares of the bank's stock, valued at approximately $231,000.

Several other hedge funds also recently added to or reduced their stakes in CFR. Alpine Bank Wealth Management purchased a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth about $30,000. UMB Bank n.a. boosted its stake in shares of Cullen/Frost Bankers by 59.6% during the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after acquiring an additional 146 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Cullen/Frost Bankers by 35.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock worth $62,000 after acquiring an additional 120 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Cullen/Frost Bankers by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock worth $65,000 after acquiring an additional 132 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth about $204,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $136.55 on Friday. The firm has a 50 day simple moving average of $128.68 and a 200-day simple moving average of $128.78. 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 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 2.89 and a beta of 0.68.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.13. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. The business had revenue of $560.42 million during the quarter, compared to analysts' expectations of $540.57 million. During the same quarter in the prior year, the company posted $2.15 EPS. On average, analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $1.00 dividend. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date was Friday, May 30th. This represents a $4.00 annualized dividend and a dividend yield of 2.93%. Cullen/Frost Bankers's dividend payout ratio is 43.91%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, May 21st. They set an "underperform" rating and a $105.00 target price on the stock. Barclays upped their price target on shares of Cullen/Frost Bankers from $135.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Raymond James Financial upgraded shares of Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 price target for the company in a research report on Tuesday, July 8th. Finally, Evercore ISI upgraded shares of 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. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $134.79.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, CAO Matthew Bradley Henson purchased 1,870 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was acquired at an average price of $16.93 per share, with a total value of $31,659.10. Following the purchase, the chief accounting officer directly owned 5,545 shares in the company, valued at approximately $93,876.85. This represents a 50.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.89% of the stock is currently owned by company insiders.

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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