Public Employees Retirement Association of Colorado Has $15.39 Million Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,471 shares of the bank’s stock after selling 414 shares during the period. Public Employees Retirement Association of Colorado owned about 0.24% of Cullen/Frost Bankers worth $15,394,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Cullen/Frost Bankers during the fourth quarter valued at approximately $72,627,000. Champlain Investment Partners LLC raised its stake in shares of Cullen/Frost Bankers by 18.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after purchasing an additional 495,215 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Cullen/Frost Bankers by 7,109.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock valued at $255,000 after buying an additional 247,416 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after buying an additional 244,197 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Cullen/Frost Bankers by 18.8% during the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after buying an additional 161,580 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CFR shares. Wedbush increased their price target on shares of Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Maxim Group raised their target price on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Jefferies Financial Group lowered their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. DA Davidson upped their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted their target price on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $119.71.

Insiders Place Their Bets

In other news, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the sale, the executive vice president now directly owns 1,598 shares in the company, valued at approximately $190,481.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Down 1.1 %

CFR opened at $114.25 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a fifty day moving average of $110.78 and a 200-day moving average of $106.93. Cullen/Frost Bankers, Inc. has a fifty-two week low of $82.25 and a fifty-two week high of $123.17. The company has a market capitalization of $7.31 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.35 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The firm had revenue of $528.81 million during the quarter, compared to the consensus estimate of $506.83 million. During the same quarter in the previous year, the firm posted $2.47 EPS. On average, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.95 per share. The ex-dividend date was Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a yield of 3.33%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio is currently 44.92%.

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.