Public Employees Retirement Association of Colorado Sells 414 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Public Employees Retirement Association of Colorado lowered its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,471 shares of the bank’s stock after selling 414 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Cullen/Frost Bankers were worth $15,394,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Cullen/Frost Bankers by 20.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 787,599 shares of the bank’s stock valued at $85,451,000 after purchasing an additional 131,726 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Cullen/Frost Bankers by 35.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,454 shares of the bank’s stock worth $375,000 after buying an additional 909 shares in the last quarter. Norges Bank bought a new position in shares of Cullen/Frost Bankers in the 4th quarter valued at $72,627,000. Wells Fargo & Company MN lifted its stake in shares of Cullen/Frost Bankers by 12.6% in the 4th quarter. Wells Fargo & Company MN now owns 129,721 shares of the bank’s stock valued at $14,073,000 after acquiring an additional 14,553 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Cullen/Frost Bankers by 68.5% during the 4th quarter. Corient Private Wealth LLC now owns 16,723 shares of the bank’s stock valued at $1,814,000 after acquiring an additional 6,796 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CFR shares. Stephens upped their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Morgan Stanley downgraded Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $112.00 to $121.00 in a research note on Monday, August 5th. Jefferies Financial Group cut their target price on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. DA Davidson upped their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Maxim Group lifted their price target on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $119.71.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares of the company’s stock, valued at $190,481.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the sale, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The disclosure for this sale can be found here. 2.89% of the stock is owned by insiders.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $114.25 on Friday. The business has a 50-day moving average price of $110.78 and a two-hundred day moving average price of $106.93. Cullen/Frost Bankers, Inc. has a 1-year low of $82.25 and a 1-year high of $123.17. 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 company has a market cap of $7.31 billion, a P/E ratio of 13.50, a PEG ratio of 1.35 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The business had revenue of $528.81 million during the quarter, compared to analysts’ expectations of $506.83 million. During the same quarter last year, the firm posted $2.47 earnings per share. As a group, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Friday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s payout ratio is presently 44.92%.

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.