Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,700 shares of the bank’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cullen/Frost Bankers were worth $1,980,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Asset Dedication LLC lifted its position in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after acquiring an additional 105 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of Cullen/Frost Bankers by 90.7% during the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after buying an additional 186 shares in the last quarter. Allworth Financial LP raised its position in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after buying an additional 239 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Cullen/Frost Bankers in the second quarter valued at about $54,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Cullen/Frost Bankers in the first quarter worth about $69,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CFR has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Evercore ISI reduced their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 2nd. Citigroup lowered their price objective on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a research note on Monday, September 30th. DA Davidson raised their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group lowered their price target on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus target price of $121.31.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $129.76 on Wednesday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $88.86 and a fifty-two week high of $133.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The company has a 50 day moving average price of $114.08 and a 200 day moving average price of $108.43. The stock has a market capitalization of $8.34 billion, a P/E ratio of 15.34, a PEG ratio of 1.56 and a beta of 1.00.

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.