Retirement Systems of Alabama Boosts Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Retirement Systems of Alabama boosted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,016 shares of the bank’s stock after purchasing an additional 153 shares during the period. Retirement Systems of Alabama owned about 0.26% of Cullen/Frost Bankers worth $17,903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CFR. First National Bank of Hutchinson lifted its holdings in Cullen/Frost Bankers by 1.7% during the 3rd quarter. First National Bank of Hutchinson now owns 7,432 shares of the bank’s stock worth $678,000 after purchasing an additional 121 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Cullen/Frost Bankers by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 25,995 shares of the bank’s stock worth $2,371,000 after purchasing an additional 130 shares in the last quarter. Cardinal Capital Management lifted its holdings in Cullen/Frost Bankers by 1.3% during the 4th quarter. Cardinal Capital Management now owns 10,459 shares of the bank’s stock worth $1,135,000 after purchasing an additional 130 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in Cullen/Frost Bankers by 2.0% during the 4th quarter. Tributary Capital Management LLC now owns 7,395 shares of the bank’s stock worth $802,000 after purchasing an additional 147 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Cullen/Frost Bankers by 18.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 981 shares of the bank’s stock worth $106,000 after acquiring an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $104.32 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. Cullen/Frost Bankers, Inc. has a one year low of $82.25 and a one year high of $120.31. The firm has a market capitalization of $6.70 billion, a P/E ratio of 12.33, a PEG ratio of 1.32 and a beta of 1.03. The business has a fifty day moving average of $109.03 and a 200 day moving average of $104.18.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. During the same period last year, the company earned $2.70 earnings per share. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.42 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 annualized dividend and a yield of 3.53%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.50%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CFR shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $118.00 price objective on shares of Cullen/Frost Bankers in a research report on Tuesday, April 9th. Morgan Stanley increased their price objective on Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. DA Davidson reiterated a “buy” rating and set a $126.00 price objective on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Wedbush restated a “neutral” rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. increased their price objective on Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Three equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $117.46.

Insider Activity at Cullen/Frost Bankers

In related news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction on Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at $10,543,972. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Bobby Berman sold 1,312 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the transaction, the executive vice president now directly owns 27,815 shares in the company, valued at $2,934,204.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the sale, the insider now directly owns 96,380 shares in the company, valued at $10,543,972. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

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.