New York State Common Retirement Fund Trims Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

New York State Common Retirement Fund decreased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 160,098 shares of the bank’s stock after selling 2,254 shares during the quarter. New York State Common Retirement Fund owned about 0.25% of Cullen/Frost Bankers worth $21,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CFR. Cardinal Capital Management boosted its stake in Cullen/Frost Bankers by 3.1% in the 4th quarter. Cardinal Capital Management now owns 16,892 shares of the bank’s stock worth $2,268,000 after buying an additional 501 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Cullen/Frost Bankers by 12.7% in the fourth quarter. Venturi Wealth Management LLC now owns 6,753 shares of the bank’s stock worth $907,000 after acquiring an additional 761 shares during the last quarter. Truist Financial Corp grew its holdings in Cullen/Frost Bankers by 122.1% in the fourth quarter. Truist Financial Corp now owns 32,842 shares of the bank’s stock valued at $4,409,000 after purchasing an additional 18,053 shares during the period. CIBC Asset Management Inc grew its holdings in Cullen/Frost Bankers by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 2,016 shares of the bank’s stock valued at $271,000 after purchasing an additional 103 shares during the period. Finally, Principal Financial Group Inc. increased its position in Cullen/Frost Bankers by 2.0% during the fourth quarter. Principal Financial Group Inc. now owns 822,432 shares of the bank’s stock worth $110,418,000 after purchasing an additional 16,223 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of CFR stock opened at $140.22 on Friday. The firm has a fifty day simple moving average of $138.39 and a 200-day simple moving average of $127.60. The company has a market capitalization of $9.01 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 6.58 and a beta of 0.99. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $147.64. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.80 dividend on an annualized basis and a yield of 2.71%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 42.84%.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, insider Paul Bracher sold 11,500 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the transaction, the insider now directly owns 102,946 shares in the company, valued at $14,355,819.70. This represents a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.89% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Maxim Group boosted their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $144.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. DA Davidson lowered Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $138.00 to $143.00 in a research note on Monday, February 3rd. Finally, Evercore ISI increased their target price on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $132.54.

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.