Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System boosted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,800 shares of the bank’s stock after purchasing an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cullen/Frost Bankers were worth $2,390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd raised its position in shares of Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares during the last quarter. UMB Bank n.a. raised its holdings in Cullen/Frost Bankers by 45.8% in the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after acquiring an additional 77 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Cullen/Frost Bankers in the 3rd quarter worth approximately $29,000. Asset Dedication LLC grew its position in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after purchasing an additional 105 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Cullen/Frost Bankers by 239.0% in the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after purchasing an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In related news, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the completion of the transaction, the chief executive officer now owns 94,423 shares in the company, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Bracher sold 11,500 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the transaction, the insider now directly owns 102,946 shares in the company, valued at $14,355,819.70. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $144.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, January 31st. Evercore ISI upped their price objective on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the company an “underperform” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods lifted their target price on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Maxim Group increased their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Stephens lifted their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $132.54.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $143.53 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $9.22 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 6.52 and a beta of 0.99. The business has a 50-day moving average of $137.84 and a 200 day moving average of $126.54. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 16.04%. As a group, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.69 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, March 14th. Investors of record on Friday, February 28th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.80 dividend on an annualized basis and a yield of 2.65%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 42.84%.

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.