New York State Common Retirement Fund Has $18.16 Million Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

New York State Common Retirement Fund lifted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,352 shares of the bank's stock after buying an additional 21,662 shares during the period. New York State Common Retirement Fund owned about 0.25% of Cullen/Frost Bankers worth $18,161,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CFR. Reston Wealth Management LLC acquired a new stake in Cullen/Frost Bankers during the 3rd quarter worth about $92,000. Oak Harvest Investment Services boosted its holdings in shares of Cullen/Frost Bankers by 29.1% during the third quarter. Oak Harvest Investment Services now owns 37,060 shares of the bank's stock worth $4,146,000 after purchasing an additional 8,359 shares during the period. Pathway Financial Advisers LLC boosted its holdings in shares of Cullen/Frost Bankers by 11,169.3% during the third quarter. Pathway Financial Advisers LLC now owns 22,426 shares of the bank's stock worth $2,509,000 after purchasing an additional 22,227 shares during the period. Pallas Capital Advisors LLC grew its position in Cullen/Frost Bankers by 3.4% during the third quarter. Pallas Capital Advisors LLC now owns 4,948 shares of the bank's stock valued at $553,000 after purchasing an additional 161 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Cullen/Frost Bankers by 2.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 35,590 shares of the bank's stock valued at $3,981,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the transaction, the executive vice president now directly owns 26,661 shares of the company's stock, valued at approximately $3,367,550.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CFR shares. Maxim Group boosted their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a "buy" rating in a report on Friday, November 1st. Stephens raised their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Truist Financial lowered their price target on 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. Citigroup boosted their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a "sell" rating in a research report on Monday. Finally, Evercore ISI cut their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating on the stock in a report on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $123.86.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock traded up $16.08 during mid-day trading on Wednesday, reaching $143.66. The company had a trading volume of 1,234,863 shares, compared to its average volume of 455,697. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.51 and a beta of 0.98. The company has a 50 day moving average of $116.22 and a 200-day moving average of $109.24. Cullen/Frost Bankers, Inc. has a 52 week low of $91.24 and a 52 week high of $144.19.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results 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 return on equity of 15.82% and a net margin of 18.81%. The firm had revenue of $518.04 million during the quarter, compared to analysts' expectations of $517.25 million. During the same period last year, the business earned $2.38 earnings per share. Cullen/Frost Bankers's quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers's dividend payout ratio is 47.15%.

Cullen/Frost Bankers 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.