California Public Employees Retirement System Sells 1,470 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

California Public Employees Retirement System lessened its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,690 shares of the bank’s stock after selling 1,470 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Cullen/Frost Bankers worth $11,900,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CFR. NBC Securities Inc. bought a new stake in shares of Cullen/Frost Bankers during the third quarter worth $27,000. Arvest Investments Inc. bought a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth $35,000. Signaturefd LLC increased its position in shares of Cullen/Frost Bankers by 87.8% during the fourth quarter. Signaturefd LLC now owns 706 shares of the bank’s stock worth $77,000 after acquiring an additional 330 shares in the last quarter. Covestor Ltd increased its position in shares of Cullen/Frost Bankers by 60.7% during the third quarter. Covestor Ltd now owns 911 shares of the bank’s stock worth $83,000 after acquiring an additional 344 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Cullen/Frost Bankers by 18.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 981 shares of the bank’s stock worth $106,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

CFR stock opened at $105.35 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12 month low of $82.25 and a 12 month high of $120.31. The firm has a market cap of $6.77 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.32 and a beta of 1.03. The company’s 50-day moving average price is $108.99 and its two-hundred day moving average price is $104.19.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, beating the consensus estimate 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 last year, the company posted $2.70 EPS. On average, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.42 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend 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 (DPR) is presently 43.50%.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers 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 sale, the executive vice president now directly 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 Securities & Exchange Commission, which is available at the SEC website. In related news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers 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 sale, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the sale, the executive vice president now owns 27,815 shares in the company, valued at $2,934,204.35. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

CFR has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Stephens raised their target price on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Royal Bank of Canada restated a “sector perform” rating and set a $118.00 target price on shares of Cullen/Frost Bankers in a research note on Tuesday, April 9th. Compass Point lowered shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Finally, Morgan Stanley raised their price target on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and an average target price of $117.46.

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.