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

Key Points

• Cullen/Frost Bankers experienced a significant increase in short interest, rising by 25.8% in August, with total short interest at 2,930,000 shares as of August 31st.
• The company's quarterly dividend was declared at $1.00 per share, providing an annualized dividend yield of 3.2%.
• Shares of Cullen/Frost Bankers currently have a consensus rating of "Reduce" from analysts, with a consensus price target of $134.00.

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

Cullen/Frost Bankers Price Performance

NYSE:CFR traded down $1.65 during trading hours on Friday, hitting $127.09. 742,000 shares of the stock were exchanged, compared to its average volume of 414,232. Cullen/Frost Bankers has a 52-week low of $100.31 and a 52-week high of $147.64. The firm's fifty day moving average price is $129.47 and its 200 day moving average price is $125.65. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The company has a market cap of $8.17 billion, a P/E ratio of 13.68, a P/E/G ratio of 2.67 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.28 by $0.11. The business had revenue of $567.83 million during the quarter, compared to analyst estimates of $552.04 million. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.During the same period in the prior year, the business earned $2.21 earnings per share. As a group, equities research analysts anticipate that Cullen/Frost Bankers will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $1.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 3.1%. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.06%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on Cullen/Frost Bankers in a research note on Wednesday, September 10th. They issued a "neutral" rating and a $138.00 target price on the stock. Raymond James Financial lowered their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Monday, August 4th. Finally, Barclays decreased their price objective on 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. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Cullen/Frost Bankers currently has an average rating of "Reduce" and an average price target of $134.79.

Institutional Trading of Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently bought and sold shares of CFR. Cetera Investment Advisers lifted its position in Cullen/Frost Bankers by 16.8% in the fourth quarter. Cetera Investment Advisers now owns 6,846 shares of the bank's stock valued at $919,000 after purchasing an additional 984 shares during the period. Deutsche Bank AG lifted its position in shares of Cullen/Frost Bankers by 418.9% during the 4th quarter. Deutsche Bank AG now owns 19,531 shares of the bank's stock valued at $2,622,000 after acquiring an additional 15,767 shares during the period. Focus Partners Wealth acquired a new stake in shares of Cullen/Frost Bankers during the 4th quarter valued at approximately $204,000. Quantinno Capital Management LP lifted its position in shares of Cullen/Frost Bankers by 112.3% during the 4th quarter. Quantinno Capital Management LP now owns 11,907 shares of the bank's stock valued at $1,599,000 after acquiring an additional 6,298 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of Cullen/Frost Bankers by 6.5% during the 4th quarter. Royal Bank of Canada now owns 406,239 shares of the bank's stock valued at $54,537,000 after acquiring an additional 24,796 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.