Teachers Retirement System of The State of Kentucky Buys New Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Teachers Retirement System of The State of Kentucky bought a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,940 shares of the bank’s stock, valued at approximately $5,545,000.

Other institutional investors also recently bought and sold shares of the company. FourThought Financial LLC boosted its holdings in Cullen/Frost Bankers by 51.1% during the 3rd 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 boosted its holdings in Cullen/Frost Bankers by 80.7% during the 1st quarter. Covestor Ltd now owns 309 shares of the bank’s stock valued at $43,000 after acquiring an additional 138 shares during the period. Atlas Capital Advisors LLC purchased a new stake in Cullen/Frost Bankers during the 2nd quarter valued at about $51,000. Wipfli Financial Advisors LLC purchased a new stake in Cullen/Frost Bankers during the 3rd quarter valued at about $61,000. Finally, Eagle Bay Advisors LLC lifted its holdings in Cullen/Frost Bankers by 175.5% in the 2nd quarter. Eagle Bay Advisors LLC now owns 540 shares of the bank’s stock worth $63,000 after buying an additional 344 shares during the period. 81.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Candace K. Wolfshohl purchased 700 shares of the business’s stock in a transaction dated Wednesday, March 15th. The stock was acquired at an average price of $108.28 per share, for a total transaction of $75,796.00. Following the acquisition, the executive vice president now directly owns 16,291 shares of the company’s stock, valued at $1,763,989.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Phillip D. Green bought 9,500 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $106.59 per share, for a total transaction of $1,012,605.00. Following the acquisition, the chief executive officer now owns 114,729 shares of the company’s stock, valued at $12,228,964.11. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Candace K. Wolfshohl bought 700 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was bought at an average price of $108.28 per share, with a total value of $75,796.00. Following the acquisition, the executive vice president now directly owns 16,291 shares in the company, valued at approximately $1,763,989.48. The disclosure for this purchase can be found here. Insiders bought 16,700 shares of company stock worth $1,789,751 in the last 90 days. Insiders own 3.76% of the company’s stock.

Cullen/Frost Bankers Trading Down 3.5 %

CFR opened at $104.83 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.61 and a quick ratio of 0.61. The company’s 50 day simple moving average is $128.61 and its two-hundred day simple moving average is $136.11. Cullen/Frost Bankers, Inc. has a 1-year low of $101.87 and a 1-year high of $160.60. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06.

Cullen/Frost Bankers (NYSE:CFR – Get Rating) last released its earnings results on Thursday, January 26th. The bank reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.16. 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 posted $1.54 EPS. Analysts expect that Cullen/Frost Bankers, Inc. will post 10.5 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.32%. Cullen/Frost Bankers’s dividend payout ratio is currently 39.46%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CFR shares. Wedbush dropped their price objective on Cullen/Frost Bankers from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, January 27th. Raymond James lowered Cullen/Frost Bankers from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 21st. JPMorgan Chase & Co. lowered their target price on Cullen/Frost Bankers from $175.00 to $155.00 and set an “overweight” rating for the company in a report on Tuesday, December 13th. Morgan Stanley initiated coverage on Cullen/Frost Bankers in a report on Monday, December 5th. They set an “overweight” rating and a $178.00 target price for the company. Finally, Truist Financial reduced their price target on Cullen/Frost Bankers from $148.00 to $136.00 and set a “hold” rating on the stock in a research report on Wednesday, February 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of “Hold” and an average price target of $145.57.

Cullen/Frost Bankers Profile

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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.