California State Teachers Retirement System Purchases 14,607 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• California State Teachers Retirement System increased its Cullen/Frost Bankers stake by 25.3%, purchasing 14,607 additional shares and bringing its holdings to 72,412 shares valued at approximately $9.9 million. Institutional investors collectively own 86.9% of the company.
• Cullen/Frost Bankers reported stronger-than-expected quarterly results, with EPS of $2.70 versus the $2.55 consensus and revenue of $608.65 million versus expectations of $589.72 million.
• Analysts maintain a consensus “Hold” rating with an average price target of $160.33, while shares recently traded at $168.84. The company also declared a quarterly dividend of $1.03 per share, representing a 2.4% annualized yield.

California State Teachers Retirement System boosted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 25.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 72,412 shares of the bank's stock after purchasing an additional 14,607 shares during the period. California State Teachers Retirement System owned about 0.12% of Cullen/Frost Bankers worth $9,926,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CFR. Private Advisor Group LLC lifted its position in shares of Cullen/Frost Bankers by 2.9% in the third quarter. Private Advisor Group LLC now owns 3,283 shares of the bank's stock valued at $416,000 after buying an additional 94 shares during the last quarter. Cardinal Capital Management increased its holdings in shares of Cullen/Frost Bankers by 0.5% during the 4th quarter. Cardinal Capital Management now owns 18,134 shares of the bank's stock worth $2,296,000 after acquiring an additional 98 shares during the last quarter. Evolve Private Wealth LLC raised its stake in Cullen/Frost Bankers by 6.0% in the 1st quarter. Evolve Private Wealth LLC now owns 1,726 shares of the bank's stock valued at $237,000 after acquiring an additional 98 shares during the period. Covestor Ltd raised its stake in Cullen/Frost Bankers by 67.6% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank's stock valued at $31,000 after acquiring an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Cullen/Frost Bankers by 0.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,921 shares of the bank's stock valued at $1,771,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods raised their target price on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the stock an "outperform" rating in a research note on Friday. Morgan Stanley lifted their target price on shares of Cullen/Frost Bankers from $133.00 to $141.00 and gave the stock an "underweight" rating in a report on Monday, June 29th. Citigroup upped their price target on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a "sell" rating in a research note on Tuesday, June 30th. Finally, DA Davidson increased their price target on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $160.33.

Cullen/Frost Bankers Trading Up 1.5%

Shares of Cullen/Frost Bankers stock opened at $168.84 on Tuesday. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 2.91 and a beta of 0.53. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 12-month low of $119.00 and a 12-month high of $169.68. The firm's 50-day moving average price is $152.10 and its two-hundred day moving average price is $143.92.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. The company had revenue of $608.65 million during the quarter, compared to analysts' expectations of $589.72 million. During the same period in the previous year, the company earned $2.39 EPS. On average, analysts forecast that Cullen/Frost Bankers, Inc. will post 10.79 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, August 31st. Cullen/Frost Bankers's payout ratio is currently 38.94%.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the sale, the executive vice president owned 12,712 shares of the company's stock, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.14% of the stock is owned by insiders.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.