Retirement Systems of Alabama Purchases 208 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Retirement Systems of Alabama raised its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.1% during the fourth quarter, Holdings Channel reports. The firm owned 162,778 shares of the bank’s stock after purchasing an additional 208 shares during the period. Retirement Systems of Alabama’s holdings in Cullen/Frost Bankers were worth $21,853,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC lifted its holdings in Cullen/Frost Bankers by 30.3% in the third quarter. Tidal Investments LLC now owns 18,689 shares of the bank’s stock valued at $2,091,000 after buying an additional 4,348 shares during the period. Pathstone Holdings LLC lifted its stake in shares of Cullen/Frost Bankers by 45.0% in the 3rd quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank’s stock valued at $2,156,000 after purchasing an additional 5,981 shares during the period. Barclays PLC boosted its position in shares of Cullen/Frost Bankers by 234.5% during the 3rd quarter. Barclays PLC now owns 436,393 shares of the bank’s stock valued at $48,814,000 after purchasing an additional 305,921 shares in the last quarter. Raymond James & Associates grew its stake in Cullen/Frost Bankers by 10.0% during the third quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock worth $13,361,000 after purchasing an additional 10,884 shares during the period. Finally, Hancock Whitney Corp acquired a new stake in Cullen/Frost Bankers during the third quarter worth approximately $784,000. 86.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CFR has been the topic of several recent analyst reports. Maxim Group boosted their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Compass Point boosted their target price on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $144.00 price target on shares of Cullen/Frost Bankers in a report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Stephens increased their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus target price of $130.31.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $141.03 on Friday. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $137.57 and a 200-day moving average price of $125.49. The company has a market cap of $9.04 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 16.04% and a net margin of 18.81%. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.66 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, February 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 42.84%.

Insiders Place Their Bets

In other news, insider Paul Bracher sold 11,500 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $139.45, for a total value of $1,603,675.00. Following the transaction, the insider now owns 102,946 shares in the company, valued at $14,355,819.70. The trade was a 10.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now directly owns 94,423 shares of the company’s stock, valued at $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

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.