South Dakota Investment Council Trims Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

South Dakota Investment Council trimmed its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 46.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,240 shares of the bank's stock after selling 22,789 shares during the quarter. South Dakota Investment Council's holdings in Cullen/Frost Bankers were worth $3,285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new stake in Cullen/Frost Bankers during the 1st quarter valued at approximately $30,000. UMB Bank n.a. grew its position in shares of Cullen/Frost Bankers by 59.6% during the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after purchasing an additional 146 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Cullen/Frost Bankers by 35.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock valued at $62,000 after purchasing an additional 120 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Cullen/Frost Bankers by 33.8% during the first quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock valued at $65,000 after purchasing an additional 132 shares in the last quarter. Finally, Reyes Financial Architecture Inc. grew its position in shares of Cullen/Frost Bankers by 38.5% during the first quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank's stock valued at $159,000 after purchasing an additional 354 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, CAO Matthew Bradley Henson acquired 1,870 shares of Cullen/Frost Bankers stock in a transaction dated Friday, May 2nd. The stock was purchased at an average cost 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.89% of the company's stock.

Cullen/Frost Bankers Stock Performance

CFR stock opened at $138.71 on Friday. 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 business has a 50-day moving average price of $129.98 and a 200 day moving average price of $128.84. 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. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64.

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

Cullen/Frost Bankers Increases Dividend

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

Wall Street Analyst Weigh In

CFR has been the subject of a number of recent research reports. Raymond James Financial raised shares of Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 target price for the company in a report on Tuesday, July 8th. Barclays raised their target price on shares of Cullen/Frost Bankers from $135.00 to $155.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price for the company in a report on Friday, May 2nd. Royal Bank Of Canada cut their target price on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Finally, Stephens raised their target price on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers currently has an average rating of "Hold" and an average target price 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.

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