Cullen/Frost Bankers, Inc. (NYSE:CFR) Sees Large Growth in Short Interest

Cullen/Frost Bankers, Inc. (NYSE:CFRGet Rating) was the recipient of a significant increase in short interest in December. As of December 30th, there was short interest totalling 1,260,000 shares, an increase of 17.8% from the December 15th total of 1,070,000 shares. Based on an average daily volume of 392,000 shares, the days-to-cover ratio is presently 3.2 days. Approximately 2.1% of the company’s stock are sold short.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock opened at $133.79 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. Cullen/Frost Bankers has a twelve month low of $112.67 and a twelve month high of $160.60. The company has a 50-day simple moving average of $136.58 and a two-hundred day simple moving average of $136.37.

Cullen/Frost Bankers (NYSE:CFRGet Rating) last announced its earnings results on Thursday, October 27th. The bank reported $2.59 EPS for the quarter, topping the consensus estimate of $2.19 by $0.40. Cullen/Frost Bankers had a net margin of 30.07% and a return on equity of 14.18%. The company had revenue of $479.34 million for the quarter, compared to analysts’ expectations of $445.68 million. Analysts forecast that Cullen/Frost Bankers will post 8.68 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were issued a $0.87 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $3.48 annualized dividend and a yield of 2.60%. Cullen/Frost Bankers’s dividend payout ratio is presently 46.71%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,941 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $151.62, for a total transaction of $294,294.42. Following the sale, the executive vice president now owns 24,589 shares in the company, valued at approximately $3,728,184.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.76% of the company’s stock.

Institutional Trading of Cullen/Frost Bankers

Institutional investors have recently modified their holdings of the stock. FourThought Financial LLC increased its position in shares of Cullen/Frost Bankers by 51.1% in the third quarter. FourThought Financial LLC now owns 207 shares of the bank’s stock worth $27,000 after purchasing an additional 70 shares during the period. Meeder Asset Management Inc. increased its holdings in Cullen/Frost Bankers by 45.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 288 shares of the bank’s stock valued at $34,000 after buying an additional 90 shares during the period. Covestor Ltd raised its position in shares of Cullen/Frost Bankers by 80.7% in the 1st quarter. Covestor Ltd now owns 309 shares of the bank’s stock valued at $43,000 after buying an additional 138 shares in the last quarter. CWM LLC lifted its holdings in shares of Cullen/Frost Bankers by 638.5% during the 2nd quarter. CWM LLC now owns 384 shares of the bank’s stock worth $45,000 after acquiring an additional 332 shares during the period. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth approximately $51,000. 81.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Cullen/Frost Bankers from $148.00 to $160.00 and gave the company a “sector perform” rating in a research note on Friday, October 28th. Bank of America upgraded Cullen/Frost Bankers from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Thursday, January 5th. DA Davidson started coverage on Cullen/Frost Bankers in a research note on Tuesday, December 20th. They issued a “buy” rating and a $147.00 price target on the stock. Wolfe Research cut shares of Cullen/Frost Bankers from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, November 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cullen/Frost Bankers from $175.00 to $155.00 and set an “overweight” rating on the stock in a report on Tuesday, December 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $152.38.

About Cullen/Frost Bankers

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Cullen/Frost Bankers, Inc operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services. It operates through the following segments: Banking and Frost Wealth Advisors. The Banking operating segment includes both commercial and consumer banking services and Frost Insurance Agency.

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