Short Interest in Cullen/Frost Bankers, Inc. (NYSE:CFR) Declines By 7.5%

Cullen/Frost Bankers, Inc. (NYSE:CFR) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 3,460,000 shares, a drop of 7.5% from the September 30th total of 3,740,000 shares. Approximately 5.8% of the company’s shares are short sold. Based on an average daily volume of 459,500 shares, the short-interest ratio is currently 7.5 days.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CFR shares. Jefferies Financial Group reduced their target price on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. DA Davidson lifted their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Truist Financial dropped their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a report on Friday, September 20th. Maxim Group boosted their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Citigroup dropped their target price on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a report on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus price target of $121.31.

Cullen/Frost Bankers Stock Down 2.4 %

Shares of CFR traded down $3.17 during midday trading on Thursday, reaching $127.30. 1,147,601 shares of the stock were exchanged, compared to its average volume of 450,685. The company has a market capitalization of $8.18 billion, a P/E ratio of 14.84, a PEG ratio of 1.56 and a beta of 1.00. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers has a 52 week low of $88.86 and a 52 week high of $135.00. The company’s 50 day moving average is $114.96 and its two-hundred day moving average is $108.74.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Asset Dedication LLC boosted its stake in 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. lifted its stake in shares of Cullen/Frost Bankers by 90.7% in the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after purchasing an additional 186 shares during the period. Allworth Financial LP boosted its stake 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 worth $50,000 after acquiring an additional 239 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Cullen/Frost Bankers during the 2nd quarter worth $54,000. Finally, North Star Investment Management Corp. acquired a new stake in Cullen/Frost Bankers in the 1st quarter valued at about $69,000. 86.90% of the stock is currently owned by institutional investors.

About Cullen/Frost Bankers

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.