Teachers Retirement System of The State of Kentucky Sells 1,000 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Teachers Retirement System of The State of Kentucky lessened its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,924 shares of the bank’s stock after selling 1,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cullen/Frost Bankers were worth $2,270,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CFR. Arvest Investments Inc. bought a new stake in shares of Cullen/Frost Bankers in the 4th quarter worth approximately $35,000. GAMMA Investing LLC bought a new stake in shares of Cullen/Frost Bankers in the 4th quarter worth approximately $43,000. Parallel Advisors LLC raised its holdings in shares of Cullen/Frost Bankers by 89.7% in the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock worth $50,000 after purchasing an additional 218 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in shares of Cullen/Frost Bankers in the 4th quarter worth approximately $72,000. Finally, Signaturefd LLC raised its holdings in shares of Cullen/Frost Bankers by 87.8% in the 4th quarter. Signaturefd LLC now owns 706 shares of the bank’s stock worth $77,000 after purchasing an additional 330 shares during the period. Institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Jefferies Financial Group increased their target price on Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Evercore ISI raised their target price on Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an “underperform” rating in a research note on Thursday, March 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $118.00 price target on shares of Cullen/Frost Bankers in a research report on Tuesday, April 9th. Truist Financial cut their price objective 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, April 29th. Finally, DA Davidson reaffirmed a “buy” rating and set a $126.00 target price on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $117.46.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $98.36 on Friday. The stock’s 50-day moving average is $104.15 and its 200 day moving average is $106.08. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 1.22 and a beta of 1.02. Cullen/Frost Bankers, Inc. has a 1-year low of $82.25 and a 1-year high of $120.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping 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%. The firm had revenue of $522.74 million during the quarter, compared to analyst estimates of $510.09 million. During the same period in the previous year, the business posted $2.70 EPS. On average, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.43 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.92 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.68 annualized dividend and a dividend yield of 3.74%. Cullen/Frost Bankers’s dividend payout ratio is currently 43.50%.

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.