Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,732 shares of the bank's stock after selling 4,000 shares during the period. New York State Teachers Retirement System owned 0.12% of Cullen/Frost Bankers worth $9,482,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in Cullen/Frost Bankers during the first quarter worth $30,000. UMB Bank n.a. increased its position in Cullen/Frost Bankers by 59.6% during the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after buying an additional 146 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Cullen/Frost Bankers by 35.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock worth $62,000 after buying an additional 120 shares in the last quarter. Parallel Advisors LLC increased its position in Cullen/Frost Bankers by 33.8% during the first quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock worth $65,000 after buying an additional 132 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at $106,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CFR. Royal Bank Of Canada lowered their price objective on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Stephens lifted their price objective on Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Barclays lifted their price objective on Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Jefferies Financial Group began coverage on Cullen/Frost Bankers in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price objective for the company. Finally, Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective for the company in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $132.08.

Insider Activity at Cullen/Frost Bankers

In related news, CAO Matthew Bradley Henson acquired 1,870 shares of Cullen/Frost Bankers stock in a transaction on Friday, May 2nd. The shares were bought at an average price of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the purchase, the chief accounting officer directly owned 5,545 shares in the company, valued at $93,876.85. This trade represents a 50.88% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Cullen/Frost Bankers Trading Down 0.7%

CFR stock traded down $1.02 during trading on Monday, reaching $135.17. 329,017 shares of the stock traded hands, compared to its average volume of 456,637. The business's 50 day moving average price is $127.32 and its 200-day moving average price is $128.69. Cullen/Frost Bankers, Inc. has a 52-week low of $96.94 and a 52-week high of $147.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $8.69 billion, a PE ratio of 14.84, a P/E/G ratio of 5.19 and a beta of 0.68.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.13. The firm had revenue of $560.42 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $2.15 earnings per share. As a group, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, May 30th. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. Cullen/Frost Bankers's payout ratio is currently 43.91%.

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.