Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 165,423 shares of the bank’s stock after buying an additional 407 shares during the quarter. Retirement Systems of Alabama owned about 0.26% of Cullen/Frost Bankers worth $18,622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CFR. Vanguard Group Inc. raised its holdings in shares of Cullen/Frost Bankers by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock worth $695,729,000 after acquiring an additional 19,755 shares during the period. Principal Financial Group Inc. raised its stake in Cullen/Frost Bankers by 1.6% during the first quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock worth $92,432,000 after purchasing an additional 12,897 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Cullen/Frost Bankers by 44.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after purchasing an additional 244,197 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cullen/Frost Bankers by 20.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 787,599 shares of the bank’s stock valued at $85,451,000 after buying an additional 131,726 shares during the period. Finally, Norges Bank purchased a new position in shares of Cullen/Frost Bankers during the 4th quarter worth $72,627,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. DA Davidson restated a “buy” rating and issued a $126.00 price objective on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Royal Bank of Canada restated 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. Jefferies Financial Group cut their price objective on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a report on Wednesday. StockNews.com raised Cullen/Frost Bankers to a “sell” rating in a research note on Saturday, May 4th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $114.69.

Cullen/Frost Bankers Stock Down 0.8 %

Shares of Cullen/Frost Bankers stock traded down $0.75 during trading on Friday, hitting $97.74. 871,447 shares of the stock were exchanged, compared to its average volume of 411,735. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The firm’s 50-day moving average price is $101.92 and its 200 day moving average price is $105.77. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. The company had revenue of $522.74 million during the quarter, compared to the consensus estimate of $510.09 million. During the same period in the previous year, the business earned $2.70 EPS. As a group, analysts forecast that Cullen/Frost Bankers, Inc. will post 8.4 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.92 dividend. The ex-dividend date was Thursday, May 30th. This represents a $3.68 annualized dividend and a yield of 3.77%. Cullen/Frost Bankers’s dividend payout ratio is currently 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.