New York State Common Retirement Fund Sells 2,127 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

New York State Common Retirement Fund lessened its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,774 shares of the bank’s stock after selling 2,127 shares during the quarter. New York State Common Retirement Fund owned 0.20% of Cullen/Frost Bankers worth $13,565,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. bought a new stake in Cullen/Frost Bankers in the 1st quarter valued at $25,000. Ellevest Inc. increased its holdings in Cullen/Frost Bankers by 687.1% in the 1st quarter. Ellevest Inc. now owns 244 shares of the bank’s stock valued at $26,000 after buying an additional 213 shares during the period. Lazard Asset Management LLC bought a new stake in Cullen/Frost Bankers in the 4th quarter valued at $26,000. Clearstead Advisors LLC bought a new stake in Cullen/Frost Bankers in the 1st quarter valued at $29,000. Finally, ICA Group Wealth Management LLC bought a new stake in Cullen/Frost Bankers in the 4th quarter valued at $36,000. Institutional investors own 81.39% of the company’s stock.

Cullen/Frost Bankers Stock Down 0.7 %

Shares of NYSE CFR opened at $94.96 on Thursday. The firm’s 50-day simple moving average is $103.28 and its 200 day simple moving average is $105.85. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers, Inc. has a 12-month low of $90.71 and a 12-month high of $160.60.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, July 27th. The bank reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Cullen/Frost Bankers had a net margin of 29.14% and a return on equity of 22.93%. The company had revenue of $512.12 million for the quarter, compared to the consensus estimate of $496.85 million. During the same period in the prior year, the company posted $1.81 EPS. On average, research analysts expect that Cullen/Frost Bankers, Inc. will post 9.27 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.92 per share. The ex-dividend date is Wednesday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.87. This represents a $3.68 dividend on an annualized basis and a yield of 3.88%. Cullen/Frost Bankers’s dividend payout ratio is presently 34.49%.

Analysts Set New Price Targets

Several brokerages have issued reports on CFR. JPMorgan Chase & Co. boosted their price target on shares of Cullen/Frost Bankers from $130.00 to $135.00 in a report on Thursday, June 29th. Wedbush reduced their target price on shares of Cullen/Frost Bankers from $120.00 to $112.00 and set a “neutral” rating on the stock in a research note on Friday, July 28th. Morgan Stanley reduced their target price on shares of Cullen/Frost Bankers from $121.00 to $116.00 in a research note on Friday, July 7th. Royal Bank of Canada reduced their target price on shares of Cullen/Frost Bankers from $127.00 to $122.00 and set a “sector perform” rating on the stock in a research note on Friday, July 28th. Finally, StockNews.com assumed coverage on shares of Cullen/Frost Bankers in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and an average price target of $124.60.

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. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, 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.