Vestcor Inc Takes Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Vestcor Inc acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,554 shares of the bank's stock, valued at approximately $570,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CFR. GAMMA Investing LLC increased its position in Cullen/Frost Bankers by 122,282.2% during the 1st quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank's stock valued at $125,949,000 after purchasing an additional 1,005,160 shares during the period. Impax Asset Management Group plc boosted its holdings in shares of Cullen/Frost Bankers by 350.8% during the 1st quarter. Impax Asset Management Group plc now owns 518,387 shares of the bank's stock worth $64,359,000 after buying an additional 403,387 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Cullen/Frost Bankers by 33.7% during the 4th quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock worth $130,703,000 after buying an additional 245,458 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Cullen/Frost Bankers during the 4th quarter worth approximately $21,181,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Cullen/Frost Bankers by 19.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 711,527 shares of the bank's stock worth $89,083,000 after purchasing an additional 114,910 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Ratings Changes

CFR has been the topic of a number of recent research reports. Stephens increased their target price 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. Raymond James Financial upgraded Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a research note on Tuesday, July 8th. Jefferies Financial Group started coverage on Cullen/Frost Bankers in a research note on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price objective on the stock. Barclays decreased their target price on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Friday. Finally, Royal Bank Of Canada decreased their target price 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of "Hold" and an average price target of $134.07.

Cullen/Frost Bankers Trading Down 2.7%

Shares of CFR opened at $123.99 on Monday. The business has a 50-day moving average of $130.84 and a 200 day moving average of $128.63. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64. The firm has a market cap of $7.98 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64.

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

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 3.2%. Cullen/Frost Bankers's dividend payout ratio (DPR) is 43.06%.

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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