Retirement Systems of Alabama Decreases Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Retirement Systems of Alabama trimmed its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.9% in the third quarter, HoldingsChannel reports. The fund owned 162,570 shares of the bank’s stock after selling 1,535 shares during the period. Retirement Systems of Alabama’s holdings in Cullen/Frost Bankers were worth $18,185,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CFR. Champlain Investment Partners LLC lifted its stake in Cullen/Frost Bankers by 7.7% in the third quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock worth $381,897,000 after purchasing an additional 244,445 shares during the last quarter. Montrusco Bolton Investments Inc. increased its holdings in shares of Cullen/Frost Bankers by 10.2% in the third quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock worth $135,252,000 after buying an additional 111,719 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cullen/Frost Bankers by 6.4% in the third quarter. Geode Capital Management LLC now owns 1,097,697 shares of the bank’s stock worth $122,820,000 after buying an additional 66,223 shares during the period. Boston Trust Walden Corp bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at about $107,166,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Cullen/Frost Bankers by 14.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock valued at $96,856,000 after acquiring an additional 120,333 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Up 0.2 %

CFR stock opened at $137.80 on Friday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. The business’s 50 day moving average price is $132.55 and its two-hundred day moving average price is $115.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66.

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

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.76%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the transaction, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This represents a 58.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 94,423 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 21,864 shares of company stock valued at $2,977,033. Insiders own 2.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CFR. Wedbush decreased their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Evercore ISI decreased their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Compass Point upped their price target 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. Maxim Group raised their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Truist Financial lowered their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $127.07.

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.