Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 160,098 shares of the bank’s stock after selling 2,254 shares during the period. New York State Common Retirement Fund’s holdings in Cullen/Frost Bankers were worth $21,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Trust Walden Corp bought a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at about $107,166,000. Vaughan Nelson Investment Management L.P. acquired a new position in Cullen/Frost Bankers in the third quarter valued at approximately $54,012,000. The Manufacturers Life Insurance Company grew its holdings in shares of Cullen/Frost Bankers by 117.4% during the third quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank’s stock valued at $63,618,000 after purchasing an additional 307,129 shares during the last quarter. Barclays PLC raised its position in shares of Cullen/Frost Bankers by 234.5% during the 3rd quarter. Barclays PLC now owns 436,393 shares of the bank’s stock worth $48,814,000 after purchasing an additional 305,921 shares during the period. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Cullen/Frost Bankers by 13,334.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 281,860 shares of the bank’s stock worth $37,840,000 after purchasing an additional 279,762 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Down 1.5 %

Shares of CFR stock opened at $140.22 on Friday. 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 quick ratio of 0.68 and a current ratio of 0.68. The business’s fifty day moving average is $138.39 and its 200-day moving average is $127.60. The stock has a market cap of $9.01 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 6.58 and a beta of 0.99.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. Equities 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 firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.80 annualized dividend and a yield of 2.71%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 42.84%.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, insider Paul Bracher sold 11,500 shares of Cullen/Frost Bankers stock in a transaction on Friday, January 31st. The stock was sold at an average price of $139.45, for a total value of $1,603,675.00. Following the transaction, the insider now directly owns 102,946 shares in the company, valued at $14,355,819.70. The trade was a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CFR. Citigroup upped their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods upped their price target on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $144.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Compass Point lifted their price target on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Stephens increased their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $132.54.

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.