Cullen/Frost Bankers, Inc. (NYSE:CFR) Short Interest Up 25.8% in August

Cullen/Frost Bankers, Inc. (NYSE:CFR) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 2,930,000 shares, an increase of 25.8% from the August 15th total of 2,330,000 shares. Based on an average trading volume of 406,200 shares, the days-to-cover ratio is currently 7.2 days. Approximately 5.0% of the company’s shares are short sold. Approximately 5.0% of the company’s shares are short sold. Based on an average trading volume of 406,200 shares, the days-to-cover ratio is currently 7.2 days.

Institutional Trading of Cullen/Frost Bankers

Hedge funds have recently modified their holdings of the company. Bayforest Capital Ltd purchased a new stake in shares of Cullen/Frost Bankers during the first quarter valued at about $241,000. State of Alaska Department of Revenue raised its position in shares of Cullen/Frost Bankers by 2.9% in the 1st quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank’s stock valued at $942,000 after purchasing an additional 210 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Cullen/Frost Bankers by 55.9% in the 1st quarter. Victory Capital Management Inc. now owns 18,084 shares of the bank’s stock valued at $2,264,000 after purchasing an additional 6,484 shares during the last quarter. Norden Group LLC purchased a new position in shares of Cullen/Frost Bankers in the 1st quarter valued at approximately $214,000. Finally, UMB Bank n.a. raised its position in shares of Cullen/Frost Bankers by 59.6% in the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock valued at $49,000 after purchasing an additional 146 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Up 0.5%

Shares of Cullen/Frost Bankers stock opened at $126.22 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers has a 1 year low of $100.31 and a 1 year high of $147.64. The firm’s 50-day moving average is $129.84 and its two-hundred day moving average is $125.76. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.64 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The company had revenue of $567.83 million for the quarter, compared to analysts’ expectations of $552.04 million. During the same period in the prior year, the business earned $2.21 EPS. As a group, research analysts expect that Cullen/Frost Bankers will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 43.06%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. Jefferies Financial Group began coverage on shares of Cullen/Frost Bankers in a report on Wednesday, May 21st. They issued an “underperform” rating and a $105.00 price target on the stock. Cantor Fitzgerald began coverage on shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 price target on the stock. Finally, Raymond James Financial cut their price target on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $134.00.

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.