Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 151,885 shares of the bank’s stock after selling 1,166 shares during the period. Public Employees Retirement Association of Colorado owned about 0.24% of Cullen/Frost Bankers worth $17,098,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. ICA Group Wealth Management LLC purchased a new position in shares of Cullen/Frost Bankers during the 4th quarter valued at about $33,000. Arvest Investments Inc. purchased a new position in shares of Cullen/Frost Bankers during the 4th quarter valued at about $35,000. CWM LLC raised its stake in shares of Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after buying an additional 106 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Cullen/Frost Bankers during the 4th quarter valued at about $43,000. Finally, Whittier Trust Co. raised its stake in shares of Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after buying an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

CFR has been the subject of several recent analyst reports. Jefferies Financial Group cut their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Wedbush lifted their price target on Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday. Evercore ISI cut their price target on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a research note on Tuesday, June 25th. JPMorgan Chase & Co. cut their price target on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, StockNews.com upgraded Cullen/Frost Bankers to a “sell” rating in a research note on Saturday, May 4th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and a consensus price target of $119.50.

Cullen/Frost Bankers Stock Down 1.3 %

Shares of CFR traded down $1.51 during midday trading on Monday, reaching $118.23. The stock had a trading volume of 179,384 shares, compared to its average volume of 444,558. Cullen/Frost Bankers, Inc. has a 1-year low of $82.25 and a 1-year high of $123.17. The company’s fifty day simple moving average is $102.68 and its two-hundred day simple moving average is $105.88. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter last year, the company posted $2.47 EPS. Equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.46 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.95 dividend. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date is Friday, August 30th. This represents a $3.80 annualized dividend and a dividend yield of 3.21%. Cullen/Frost Bankers’s payout ratio is presently 43.50%.

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.