State of Alaska Department of Revenue Grows Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

State of Alaska Department of Revenue grew its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,524 shares of the bank’s stock after acquiring an additional 210 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cullen/Frost Bankers were worth $942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its position in Cullen/Frost Bankers by 239.0% in the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock worth $46,000 after purchasing an additional 239 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Cullen/Frost Bankers by 59.6% in the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock worth $49,000 after buying an additional 146 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of 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 during the last quarter. Parallel Advisors LLC raised its position in shares of Cullen/Frost Bankers by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 522 shares of the bank’s stock valued at $65,000 after buying an additional 132 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Cullen/Frost Bankers in the 4th quarter valued at about $106,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson acquired 1,870 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was bought at an average cost of $16.93 per share, with a total value of $31,659.10. Following the completion of the purchase, the chief accounting officer now directly owns 5,545 shares in the company, valued at $93,876.85. The trade was a 50.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.89% of the stock is owned by insiders.

Cullen/Frost Bankers Stock Up 1.4%

Shares of CFR opened at $128.88 on Friday. The firm has a fifty day moving average price of $124.66 and a 200-day moving average price of $128.92. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $8.29 billion, a P/E ratio of 14.15, a P/E/G ratio of 4.84 and a beta of 0.68. Cullen/Frost Bankers, Inc. has a 12-month low of $96.94 and a 12-month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.13. The company had revenue of $560.42 million during the quarter, compared to analysts’ expectations of $540.57 million. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. During the same period in the previous year, the company earned $2.15 EPS. Equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $1.00 dividend. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. The ex-dividend date was Friday, May 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.10%. Cullen/Frost Bankers’s payout ratio is presently 43.91%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CFR. Stephens boosted their price objective on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Morgan Stanley dropped their target price on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, March 13th. Barclays increased their price target on Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Royal Bank Of Canada lowered their price target on Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Finally, Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, May 21st. They set an “underperform” rating and a $105.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $131.93.

About Cullen/Frost Bankers

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.