Cullen/Frost Bankers, Inc. (NYSE:CFR) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 2,860,000 shares, a decrease of 14.4% from the September 30th total of 3,340,000 shares. Approximately 5.0% of the company’s stock are short sold. Based on an average trading volume of 386,800 shares, the short-interest ratio is currently 7.4 days.

Shares of CFR stock traded up $0.65 during trading hours on Friday, reaching $93.89. The stock had a trading volume of 330,187 shares, compared to its average volume of 385,345. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.62 and a quick ratio of 0.62. Cullen/Frost Bankers has a twelve month low of $79.86 and a twelve month high of $106.23. The firm has a 50-day simple moving average of $90.02 and a 200-day simple moving average of $91.36. The firm has a market capitalization of $5.83 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.43 and a beta of 1.37.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.04. Cullen/Frost Bankers had a net margin of 30.76% and a return on equity of 13.11%. The business had revenue of $365.84 million for the quarter, compared to analysts’ expectations of $364.56 million. During the same quarter last year, the company earned $1.78 EPS. On average, equities analysts anticipate that Cullen/Frost Bankers will post 6.85 earnings per share for the current year.

Cullen/Frost Bankers announced that its board has authorized a share buyback program on Thursday, July 25th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 1.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

A number of analysts have weighed in on CFR shares. Piper Jaffray Companies set a $91.00 target price on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Friday, November 1st. Maxim Group dropped their target price on shares of Cullen/Frost Bankers from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Morgan Stanley dropped their target price on shares of Cullen/Frost Bankers from $92.00 to $89.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. SunTrust Banks dropped their target price on shares of Cullen/Frost Bankers from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Wedbush cut shares of Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $87.00 to $82.00 in a report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $93.67.

In related news, insider Paul Bracher sold 9,360 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $90.10, for a total value of $843,336.00. Following the sale, the insider now directly owns 86,743 shares of the company’s stock, valued at $7,815,544.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.84% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CFR. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Cullen/Frost Bankers by 5.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 76,879 shares of the bank’s stock worth $7,463,000 after acquiring an additional 3,960 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Cullen/Frost Bankers in the 2nd quarter worth about $205,000. First National Bank of Omaha increased its holdings in shares of Cullen/Frost Bankers by 2.1% in the 2nd quarter. First National Bank of Omaha now owns 25,846 shares of the bank’s stock worth $2,421,000 after acquiring an additional 540 shares during the period. Diversified Trust Co increased its holdings in shares of Cullen/Frost Bankers by 14.1% in the 2nd quarter. Diversified Trust Co now owns 2,510 shares of the bank’s stock worth $235,000 after acquiring an additional 310 shares during the period. Finally, Lawson Kroeker Investment Management Inc. NE acquired a new stake in shares of Cullen/Frost Bankers in the 2nd quarter worth about $5,971,000. 80.59% of the stock is currently owned by institutional investors and hedge funds.

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. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

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