Louisiana State Employees Retirement System trimmed its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,900 shares of the bank’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cullen/Frost Bankers were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Cullen/Frost Bankers by 3.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,928 shares of the bank’s stock valued at $192,894,000 after acquiring an additional 64,878 shares during the period. Bank of New York Mellon Corp increased its position in shares of Cullen/Frost Bankers by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 786,891 shares of the bank’s stock valued at $82,182,000 after acquiring an additional 46,422 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Cullen/Frost Bankers by 2.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 466,575 shares of the bank’s stock valued at $48,729,000 after acquiring an additional 9,859 shares during the period. Franklin Resources Inc. increased its position in shares of Cullen/Frost Bankers by 18.0% in the 3rd quarter. Franklin Resources Inc. now owns 8,396 shares of the bank’s stock valued at $877,000 after acquiring an additional 1,280 shares during the period. Finally, United Services Automobile Association increased its position in shares of Cullen/Frost Bankers by 13.6% in the 3rd quarter. United Services Automobile Association now owns 19,805 shares of the bank’s stock valued at $2,068,000 after acquiring an additional 2,377 shares during the period. Institutional investors and hedge funds own 81.23% of the company’s stock.
Several research firms recently issued reports on CFR. Zacks Investment Research downgraded Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. Stephens set a $104.00 target price on Cullen/Frost Bankers and gave the company a “hold” rating in a research report on Friday, February 8th. Bank of America downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and set a $96.00 target price on the stock. in a research report on Thursday, January 10th. Finally, Barclays reissued a “hold” rating and issued a $105.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, January 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus target price of $107.44.
Shares of CFR opened at $104.08 on Wednesday. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.52 and a beta of 1.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a fifty-two week low of $81.87 and a fifty-two week high of $121.66.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, January 31st. The bank reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.07. The company had revenue of $360.93 million for the quarter, compared to the consensus estimate of $344.18 million. Cullen/Frost Bankers had a return on equity of 14.38% and a net margin of 32.44%. On average, analysts expect that Cullen/Frost Bankers, Inc. will post 7.11 EPS for the current year.
In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 3,750 shares of the stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $100.62, for a total transaction of $377,325.00. Following the sale, the executive vice president now directly owns 1,250 shares of the company’s stock, valued at approximately $125,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.84% of the stock is currently owned by company insiders.
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About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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