Cullen/Frost Bankers, Inc. (NYSE:CFR) Stock Holdings Lifted by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 15.9% during the 4th quarter, HoldingsChannel reports. The firm owned 173,023 shares of the bank’s stock after buying an additional 23,713 shares during the quarter. New York State Common Retirement Fund’s holdings in Cullen/Frost Bankers were worth $18,771,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CFR. NBC Securities Inc. purchased a new position in Cullen/Frost Bankers during the 3rd quarter worth approximately $27,000. Arvest Investments Inc. purchased a new position in shares of Cullen/Frost Bankers during the 4th quarter valued at $35,000. Signaturefd LLC grew its holdings in shares of Cullen/Frost Bankers by 87.8% during the 4th quarter. Signaturefd LLC now owns 706 shares of the bank’s stock valued at $77,000 after acquiring an additional 330 shares in the last quarter. Covestor Ltd grew its holdings in shares of Cullen/Frost Bankers by 60.7% during the 3rd quarter. Covestor Ltd now owns 911 shares of the bank’s stock valued at $83,000 after acquiring an additional 344 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in shares of Cullen/Frost Bankers by 367.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,000 shares of the bank’s stock valued at $91,000 after acquiring an additional 786 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Down 3.3 %

CFR stock opened at $107.08 on Monday. 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 52-week low of $82.25 and a 52-week high of $120.31. The company has a 50-day moving average of $109.17 and a two-hundred day moving average of $103.99. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same quarter in the previous year, the business earned $2.70 earnings per share. As a group, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.46 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Friday, May 31st. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 43.50%.

Insider Buying and Selling at Cullen/Frost Bankers

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Compass Point cut shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Jefferies Financial Group boosted their price target on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a “hold” rating in a report on Monday, April 8th. Evercore ISI boosted their price target on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the company an “underperform” rating in a report on Thursday, March 28th. Truist Financial boosted their price target on shares of Cullen/Frost Bankers from $114.00 to $121.00 and gave the company a “hold” rating in a report on Monday, April 1st. Finally, Stephens boosted their price target on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus price target of $117.92.

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.