New York State Common Retirement Fund Sells 32,728 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

New York State Common Retirement Fund reduced its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 20.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,370 shares of the bank's stock after selling 32,728 shares during the quarter. New York State Common Retirement Fund owned 0.20% of Cullen/Frost Bankers worth $15,947,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CFR. HighTower Advisors LLC boosted its position in Cullen/Frost Bankers by 8.3% during the fourth quarter. HighTower Advisors LLC now owns 13,083 shares of the bank's stock valued at $1,756,000 after purchasing an additional 1,003 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Cullen/Frost Bankers by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank's stock valued at $942,000 after buying an additional 210 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Cullen/Frost Bankers by 59.6% in the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after buying an additional 146 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Cullen/Frost Bankers by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank's stock valued at $855,884,000 after buying an additional 66,243 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Cullen/Frost Bankers by 42.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,090 shares of the bank's stock valued at $549,000 after buying an additional 1,222 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Up 0.1%

Cullen/Frost Bankers stock traded up $0.18 during midday trading on Friday, reaching $138.71. The stock had a trading volume of 328,792 shares, compared to its average volume of 442,968. Cullen/Frost Bankers, Inc. has a 12 month low of $100.31 and a 12 month high of $147.64. The company has a market capitalization of $8.92 billion, a P/E ratio of 15.23, a PEG ratio of 2.94 and a beta of 0.68. The company has a fifty day moving average price of $129.98 and a two-hundred day moving average price of $128.84. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.17 by $0.13. The firm had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. During the same period in the previous year, the company posted $2.15 EPS. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $1.00 dividend. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date was Friday, May 30th. This represents a $4.00 annualized dividend and a yield of 2.88%. Cullen/Frost Bankers's dividend payout ratio is presently 43.91%.

Insider Buying and Selling

In related news, CAO Matthew Bradley Henson bought 1,870 shares of the company's stock in a transaction on Friday, May 2nd. The shares were purchased at an average price of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the transaction, the chief accounting officer directly owned 5,545 shares in the company, valued at approximately $93,876.85. The trade was a 50.88% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.89% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on CFR shares. Evercore ISI upgraded Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective on the stock in a research note on Friday, May 2nd. Stephens lifted their price target on Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Royal Bank Of Canada decreased their price target on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Jefferies Financial Group started coverage on Cullen/Frost Bankers in a research note on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price target on the stock. Finally, Barclays lifted their price target on Cullen/Frost Bankers from $135.00 to $155.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $134.79.

Cullen/Frost Bankers 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.