Cullen/Frost Bankers, Inc. (NYSE:CFR) Short Interest Down 9.3% in November

Cullen/Frost Bankers, Inc. (NYSE:CFR) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 2,740,000 shares, a drop of 9.3% from the November 15th total of 3,020,000 shares. Based on an average daily trading volume, of 463,100 shares, the short-interest ratio is presently 5.9 days. Approximately 4.6% of the shares of the company are short sold.

Insiders Place Their Bets

In related news, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the transaction, the chief executive officer now owns 94,423 shares of the company’s stock, valued at $13,026,597.08. This represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the transaction, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,864 shares of company stock valued at $2,977,033 in the last quarter. Insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Covestor Ltd lifted its holdings in shares of Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after purchasing an additional 141 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Cullen/Frost Bankers during the 3rd quarter worth approximately $29,000. Asset Dedication LLC lifted its stake in shares of Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares during the period. Brooklyn Investment Group purchased a new position in shares of Cullen/Frost Bankers during the 3rd quarter worth about $44,000. Finally, Allworth Financial LP grew its stake in shares of Cullen/Frost Bankers by 116.6% during the 3rd 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 period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Down 2.1 %

NYSE CFR traded down $2.89 on Tuesday, hitting $136.68. The stock had a trading volume of 476,065 shares, compared to its average volume of 444,484. Cullen/Frost Bankers has a 52-week low of $94.09 and a 52-week high of $147.64. The business’s fifty day moving average price is $133.08 and its 200 day moving average price is $116.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. During the same period in the prior year, the company posted $2.38 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Cullen/Frost Bankers will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.78%. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Wall Street Analyst Weigh In

CFR has been the topic of several recent analyst reports. Evercore ISI lowered their price target 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. Maxim Group upped their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods raised their price objective on Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wedbush lowered their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Compass Point boosted their price objective on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Four equities research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $127.07.

Cullen/Frost Bankers Company 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.