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

Teachers Retirement System of The State of Kentucky lessened its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,364 shares of the bank’s stock after selling 560 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Cullen/Frost Bankers were worth $2,278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings 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 purchasing an additional 141 shares during the period. Asset Dedication LLC boosted its holdings 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 acquiring an additional 105 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Cullen/Frost Bankers in the 3rd quarter valued at approximately $44,000. Allworth Financial LP boosted its stake in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after buying an additional 239 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Cullen/Frost Bankers during the 3rd quarter worth $52,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CFR. Compass Point upped their price target on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley lowered their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. Stephens lifted their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Truist Financial decreased their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Finally, Royal Bank of Canada raised their target price on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $127.07.

Cullen/Frost Bankers Stock Up 0.2 %

Shares of NYSE CFR opened at $137.80 on Monday. The firm’s 50 day moving average price is $132.55 and its 200 day moving average price is $115.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $8.84 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. The business had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.38 earnings per share. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Insider Transactions at Cullen/Frost Bankers

In related news, CEO Phillip D. Green sold 14,358 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $13,026,597.08. This represents 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 this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,864 shares of company stock worth $2,977,033 in the last three months. Company insiders own 2.89% of the company’s stock.

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.