4,554 Shares in Cullen/Frost Bankers, Inc. (NYSE:CFR) Acquired by Vestcor Inc

Vestcor Inc bought a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,554 shares of the bank's stock, valued at approximately $570,000.

Other large investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new position in Cullen/Frost Bankers in the first quarter valued at approximately $30,000. UMB Bank n.a. raised its holdings 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 during the period. Parallel Advisors LLC raised its holdings 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 during the period. Reyes Financial Architecture Inc. grew its stake in shares of Cullen/Frost Bankers by 38.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank's stock valued at $159,000 after buying an additional 354 shares during the period. Finally, Focus Partners Wealth bought a new stake in Cullen/Frost Bankers in the 4th quarter valued at about $204,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CFR has been the subject of a number of analyst reports. Evercore ISI upgraded Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target for the company in a research note on Friday, May 2nd. Royal Bank Of Canada cut their price target on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Raymond James Financial lowered their price target on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Monday. Stephens lifted their price objective on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Barclays reduced their target price on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $133.71.

Cullen/Frost Bankers Trading Down 0.9%

NYSE CFR traded down $1.13 during trading on Thursday, hitting $122.54. 207,395 shares of the company's stock traded hands, compared to its average volume of 436,889. The stock has a fifty day moving average of $130.63 and a two-hundred day moving average of $128.45. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a 12-month low of $100.31 and a 12-month high of $147.64. The firm has a market cap of $7.88 billion, a P/E ratio of 13.20, a PEG ratio of 2.65 and a beta of 0.70.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.11. The business had revenue of $567.83 million for the quarter, compared to analyst estimates of $552.04 million. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%. During the same period last year, the company earned $2.21 EPS. As a group, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio is currently 43.06%.

Cullen/Frost Bankers Company 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.