Treasurer of the State of North Carolina Purchases 170 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Treasurer of the State of North Carolina increased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,863 shares of the bank’s stock after acquiring an additional 170 shares during the period. Treasurer of the State of North Carolina’s holdings in Cullen/Frost Bankers were worth $3,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Cullen/Frost Bankers during the fourth quarter valued at $21,181,000. Applied Finance Capital Management LLC purchased a new position in Cullen/Frost Bankers in the 4th quarter worth about $211,000. Federated Hermes Inc. lifted its stake in Cullen/Frost Bankers by 23.0% during the 4th quarter. Federated Hermes Inc. now owns 6,462 shares of the bank’s stock valued at $868,000 after acquiring an additional 1,209 shares during the period. Titleist Asset Management LLC boosted its holdings in shares of Cullen/Frost Bankers by 22.6% during the 4th quarter. Titleist Asset Management LLC now owns 5,282 shares of the bank’s stock valued at $709,000 after acquiring an additional 973 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Cullen/Frost Bankers by 4.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,086 shares of the bank’s stock worth $280,000 after acquiring an additional 86 shares during the period. 86.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

CFR has been the topic of several research reports. Evercore ISI raised their target price on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a report on Monday, February 10th. DA Davidson downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and raised their price target for the stock from $138.00 to $143.00 in a research note on Monday, February 3rd. Keefe, Bruyette & Woods upped their price objective on Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Morgan Stanley dropped their target price on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating on the stock in a research report on Thursday, March 13th. Finally, Barclays started coverage on shares of Cullen/Frost Bankers in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $130.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus target price of $132.57.

Cullen/Frost Bankers Stock Performance

CFR opened at $111.82 on Wednesday. The firm has a market cap of $7.19 billion, a P/E ratio of 12.61, a PEG ratio of 6.46 and a beta of 0.82. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $147.64. The company has a 50 day simple moving average of $126.65 and a two-hundred day simple moving average of $131.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.68 and a quick ratio of 0.68.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, topping 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%. Equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Friday, February 28th. Cullen/Frost Bankers’s payout ratio is currently 42.84%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 11,500 shares of Cullen/Frost Bankers stock in a transaction on Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the sale, the insider now directly owns 102,946 shares in the company, valued at approximately $14,355,819.70. The trade was a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.89% of the company’s stock.

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.