New York State Common Retirement Fund Purchases 23,713 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

New York State Common Retirement Fund increased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 15.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 173,023 shares of the bank's stock after purchasing an additional 23,713 shares during the period. New York State Common Retirement Fund owned 0.27% of Cullen/Frost Bankers worth $18,771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CFR. NBC Securities Inc. bought a new stake in Cullen/Frost Bankers during the third quarter worth approximately $27,000. Arvest Investments Inc. purchased a new position in Cullen/Frost Bankers during the 4th quarter worth approximately $35,000. Signaturefd LLC grew its holdings in shares of Cullen/Frost Bankers by 87.8% during the 4th quarter. Signaturefd LLC now owns 706 shares of the bank's stock valued at $77,000 after acquiring an additional 330 shares in the last quarter. Covestor Ltd grew its holdings in shares of Cullen/Frost Bankers by 60.7% during the 3rd quarter. Covestor Ltd now owns 911 shares of the bank's stock valued at $83,000 after acquiring an additional 344 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Cullen/Frost Bankers by 18.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 981 shares of the bank's stock valued at $106,000 after acquiring an additional 154 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Down 1.6 %

Cullen/Frost Bankers stock traded down $1.70 during mid-day trading on Monday, reaching $105.38. The company's stock had a trading volume of 494,338 shares, compared to its average volume of 423,430. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. Cullen/Frost Bankers, Inc. has a 12 month low of $82.25 and a 12 month high of $120.31. The business's 50 day simple moving average is $109.17 and its 200 day simple moving average is $103.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same period in the prior year, the firm posted $2.70 earnings per share. As a group, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.46 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, May 31st. Cullen/Frost Bankers's dividend payout ratio is presently 43.50%.

Insiders Place Their Bets

In other news, EVP Bobby Berman sold 1,312 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the sale, the executive vice president now owns 27,815 shares of the company's stock, valued at approximately $2,934,204.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Paul Bracher sold 9,820 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $10,543,972. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Bobby Berman sold 1,312 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares of the company's stock, valued at $2,934,204.35. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CFR shares. Keefe, Bruyette & Woods reduced their price objective on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a "market perform" rating for the company in a research note on Friday, January 26th. Jefferies Financial Group boosted their target price on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a "hold" rating in a research report on Monday, April 8th. Truist Financial cut their target price on shares of Cullen/Frost Bankers from $121.00 to $115.00 and set a "hold" rating for the company in a research report on Monday. Royal Bank of Canada reissued a "sector perform" rating and set a $118.00 target price on shares of Cullen/Frost Bankers in a research report on Tuesday, April 9th. Finally, Stephens upped their price objective on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an "equal weight" rating in a research report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $117.46.

About Cullen/Frost Bankers

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.