New York State Teachers Retirement System raised its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,055 shares of the bank’s stock after acquiring an additional 300 shares during the quarter. New York State Teachers Retirement System owned approximately 0.14% of Cullen/Frost Bankers worth $11,639,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FourThought Financial LLC lifted its holdings in shares of Cullen/Frost Bankers by 51.1% during the third quarter. FourThought Financial LLC now owns 207 shares of the bank’s stock valued at $27,000 after acquiring an additional 70 shares during the period. Covestor Ltd raised its holdings in shares of Cullen/Frost Bankers by 80.7% in the first quarter. Covestor Ltd now owns 309 shares of the bank’s stock valued at $43,000 after buying an additional 138 shares during the last quarter. American National Bank bought a new stake in Cullen/Frost Bankers during the 4th quarter worth about $57,000. Atlas Capital Advisors LLC bought a new stake in Cullen/Frost Bankers during the 2nd quarter worth about $51,000. Finally, Wipfli Financial Advisors LLC bought a new stake in Cullen/Frost Bankers during the 3rd quarter worth about $61,000. 81.93% of the stock is owned by institutional investors.
Insider Activity
In related news, CEO Phillip D. Green acquired 9,500 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $106.59 per share, with a total value of $1,012,605.00. Following the acquisition, the chief executive officer now owns 114,729 shares in the company, valued at approximately $12,228,964.11. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cullen/Frost Bankers news, CEO Phillip D. Green purchased 9,500 shares of the business’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $106.59 per share, with a total value of $1,012,605.00. Following the acquisition, the chief executive officer now directly owns 114,729 shares of the company’s stock, valued at approximately $12,228,964.11. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Bracher sold 5,848 shares of the firm’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $130.97, for a total value of $765,912.56. Following the sale, the insider now directly owns 92,834 shares of the company’s stock, valued at approximately $12,158,468.98. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 16,700 shares of company stock valued at $1,789,751. 2.89% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Cullen/Frost Bankers Price Performance
Shares of CFR opened at $104.95 on Friday. The stock has a market capitalization of $6.76 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.10 and a beta of 1.04. Cullen/Frost Bankers, Inc. has a twelve month low of $95.75 and a twelve month high of $160.60. The company has a 50 day moving average of $117.49 and a 200-day moving average of $131.66. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.07.
Cullen/Frost Bankers (NYSE:CFR – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The bank reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.16. The company had revenue of $529.57 million during the quarter, compared to analysts’ expectations of $501.12 million. Cullen/Frost Bankers had a net margin of 30.80% and a return on equity of 18.55%. During the same period last year, the business earned $1.54 EPS. As a group, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 9.75 EPS for the current fiscal year.
Cullen/Frost Bankers Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were issued a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Monday, February 27th. Cullen/Frost Bankers’s payout ratio is presently 39.46%.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding company, which engages in the provision of commercial and consumer banking services. It operates through the Banking and Frost Wealth Advisors segments. The Banking segment operates commercial and consumer banking services. The Frost Wealth Advisors segment includes fee-based services within private trust, retirement services, and financial management services.
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