California Public Employees Retirement System Has $13.80 Million Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

California Public Employees Retirement System trimmed its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,825 shares of the bank’s stock after selling 5,178 shares during the quarter. California Public Employees Retirement System owned 0.16% of Cullen/Frost Bankers worth $13,804,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CFR. Arizona State Retirement System raised its holdings in Cullen/Frost Bankers by 0.4% during the fourth quarter. Arizona State Retirement System now owns 17,651 shares of the bank’s stock worth $2,370,000 after buying an additional 74 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Cullen/Frost Bankers by 3.7% during the fourth quarter. Ballentine Partners LLC now owns 2,164 shares of the bank’s stock worth $291,000 after acquiring an additional 77 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Cullen/Frost Bankers by 45.8% in the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock worth $33,000 after acquiring an additional 77 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in Cullen/Frost Bankers by 4.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,187 shares of the bank’s stock valued at $294,000 after acquiring an additional 89 shares in the last quarter. Finally, First Dallas Securities Inc. lifted its position in Cullen/Frost Bankers by 2.5% in the 4th quarter. First Dallas Securities Inc. now owns 4,028 shares of the bank’s stock valued at $541,000 after acquiring an additional 100 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Trading Down 4.5 %

Shares of Cullen/Frost Bankers stock opened at $106.68 on Friday. The stock has a market capitalization of $6.86 billion, a P/E ratio of 12.03, a P/E/G ratio of 6.46 and a beta of 0.82. Cullen/Frost Bankers, Inc. has a 52-week low of $94.09 and a 52-week high of $147.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.68 and a current ratio of 0.68. The stock’s 50-day simple moving average is $132.13 and its 200 day simple moving average is $131.35.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. As a group, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.95 per share. The ex-dividend date was Friday, February 28th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.56%. Cullen/Frost Bankers’s payout ratio is 42.84%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CFR shares. Evercore ISI increased their price objective on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a research note on Monday, February 10th. Morgan Stanley dropped their price objective on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating on the stock in a research note on Thursday, March 13th. Barclays initiated coverage on shares of Cullen/Frost Bankers in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $130.00 target price for the company. Compass Point increased their target price on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $132.57.

Insider Activity at Cullen/Frost Bankers

In other news, insider Paul Bracher sold 11,500 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the sale, the insider now directly owns 102,946 shares in the company, valued at $14,355,819.70. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

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.