South Dakota Investment Council Sells 14,666 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

South Dakota Investment Council trimmed its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 23.0% during the fourth quarter, Holdings Channel reports. The firm owned 49,029 shares of the bank’s stock after selling 14,666 shares during the quarter. South Dakota Investment Council’s holdings in Cullen/Frost Bankers were worth $6,582,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Covestor Ltd raised its holdings in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after acquiring an additional 141 shares during the period. UMB Bank n.a. raised its holdings in Cullen/Frost Bankers by 45.8% in the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after acquiring an additional 77 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Cullen/Frost Bankers in the 3rd quarter valued at about $29,000. Blue Trust Inc. raised its holdings in Cullen/Frost Bankers by 239.0% in the 4th quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after acquiring an additional 239 shares during the period. Finally, Brooklyn Investment Group bought a new position in Cullen/Frost Bankers in the 3rd quarter valued at about $44,000. 86.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Cullen/Frost Bankers

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

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $140.22 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 6.46 and a beta of 0.99. The firm’s 50 day simple moving average is $138.39 and its 200 day simple moving average is $127.75. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64.

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

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.95 dividend. The ex-dividend date 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 is currently 42.84%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $144.00 price target on shares of Cullen/Frost Bankers in a report on Friday, January 31st. Maxim Group increased their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday, November 1st. Compass Point raised their target price on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Stephens raised their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Citigroup raised their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers presently has a consensus 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.