Cullen/Frost Bankers, Inc. $CFR Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,255 shares of the bank's stock after selling 3,157 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Cullen/Frost Bankers worth $10,701,283 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFR. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Cullen/Frost Bankers during the second quarter worth $37,000. Global Retirement Partners LLC purchased a new stake in Cullen/Frost Bankers in the second quarter worth $38,000. Covestor Ltd raised its holdings in shares of Cullen/Frost Bankers by 67.6% during the fourth quarter. Covestor Ltd now owns 248 shares of the bank's stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Cullen/Frost Bankers in the first quarter worth about $41,000. Finally, GHP Investment Advisors Inc. bought a new position in shares of Cullen/Frost Bankers in the first quarter worth about $53,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Price Performance

Shares of CFR traded down $1.46 during trading hours on Tuesday, hitting $161.94. 180,499 shares of the company were exchanged, compared to its average volume of 560,923. The company has a market capitalization of $10.06 billion, a PE ratio of 15.32, a PEG ratio of 2.49 and a beta of 0.52. The firm has a fifty day simple moving average of $163.25 and a 200-day simple moving average of $148.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. Cullen/Frost Bankers, Inc. has a one year low of $119.00 and a one year high of $170.80.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.15. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.The firm had revenue of $576.01 million for the quarter, compared to analysts' expectations of $589.72 million. During the same quarter last year, the business earned $2.39 earnings per share. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 10.94 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, August 31st. Cullen/Frost Bankers's dividend payout ratio is presently 38.94%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. TD Cowen raised their target price on shares of Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Stephens raised their price target on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Citigroup raised their price target on Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a "sell" rating in a research report on Tuesday, June 30th. Zacks Research cut shares of Cullen/Frost Bankers from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 3rd. Finally, Barclays increased their price target on Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $166.67.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers commercial and consumer banking products, including deposit accounts, loans, treasury management, payment services, mortgage lending and online and mobile banking. Through its wealth management operations, the company also provides trust, investment management, brokerage and retirement services.

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