SkyOak Wealth LLC Invests $231,000 in Cullen/Frost Bankers, Inc. (NYSE:CFR)

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quadrant Capital Group LLC raised its position in shares of Cullen/Frost Bankers by 4.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,086 shares of the bank's stock worth $280,000 after purchasing an additional 86 shares during the period. Xponance Inc. grew its holdings in Cullen/Frost Bankers by 1.6% in the 1st quarter. Xponance Inc. now owns 7,207 shares of the bank's stock worth $902,000 after buying an additional 113 shares in the last quarter. Commerce Bank grew its holdings in Cullen/Frost Bankers by 0.9% in the 4th quarter. Commerce Bank now owns 12,536 shares of the bank's stock worth $1,683,000 after buying an additional 116 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Cullen/Frost Bankers by 35.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock worth $62,000 after buying an additional 120 shares in the last quarter. Finally, Fulton Bank N.A. grew its holdings in Cullen/Frost Bankers by 2.6% in the 1st quarter. Fulton Bank N.A. now owns 5,012 shares of the bank's stock worth $628,000 after buying an additional 126 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CFR has been the subject of a number of recent analyst reports. Barclays increased their price objective on Cullen/Frost Bankers from $135.00 to $155.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Stephens increased their price objective on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Royal Bank Of Canada decreased their price objective 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. Evercore ISI upgraded 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. Finally, Jefferies Financial Group started coverage on 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. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $134.79.

Cullen/Frost Bankers Price Performance

Shares of CFR traded up $2.90 during trading hours on Wednesday, hitting $135.84. 628,490 shares of the company were exchanged, compared to its average volume of 450,511. The company has a market capitalization of $8.73 billion, a PE ratio of 14.91, a PEG ratio of 2.91 and a beta of 0.68. 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 firm has a fifty day simple moving average of $129.17 and a 200-day simple moving average of $128.77. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64.

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. The business had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. During the same period last year, the company posted $2.15 EPS. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, May 30th. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a dividend yield of 2.94%. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.91%.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson bought 1,870 shares of the firm'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 completion of the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate 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.