California State Teachers Retirement System raised its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) by 14,678.3% in the 2nd quarter, Holdings Channel reports. The fund owned 10,701,283 shares of the bank’s stock after acquiring an additional 10,628,871 shares during the quarter. California State Teachers Retirement System owned 0.17% of Cullen/Frost Bankers worth $1,653,562,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its holdings in shares of Cullen/Frost Bankers by 61.6% in the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after purchasing an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cullen/Frost Bankers by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock worth $20,896,000 after purchasing an additional 15,063 shares during the period. Geneos Wealth Management Inc. grew its position in Cullen/Frost Bankers by 40.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after buying an additional 106 shares during the last quarter. Invesco Ltd. grew its position in Cullen/Frost Bankers by 12.2% in the 2nd quarter. Invesco Ltd. now owns 126,040 shares of the bank’s stock valued at $16,201,000 after buying an additional 13,718 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Cullen/Frost Bankers by 82.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank’s stock valued at $151,000 after buying an additional 532 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.
Cullen/Frost Bankers Trading Up 0.2%
NYSE:CFR opened at $163.00 on Friday. The stock has a fifty day moving average price of $163.10 and a two-hundred day moving average price of $148.55. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 2.48 and a beta of 0.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.63 and a current ratio of 0.63. Cullen/Frost Bankers, Inc. has a 1 year low of $119.00 and a 1 year high of $170.80.
Cullen/Frost Bankers Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $1.03 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 38.94%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CFR. Royal Bank Of Canada upped their price objective on shares of Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Zacks Research lowered shares of Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Barclays increased their price target on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods raised their price objective on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 15th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus target price of $166.67.
Get Our Latest Analysis on Cullen/Frost Bankers
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.
Frost Bank offers commercial and consumer banking products, including deposit accounts, loans, treasury management, payment services, mortgage lending and online and mobile banking. Through its wealth management operations, the company also provides trust, investment management, brokerage and retirement services.
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