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

Cullen/Frost Bankers, Inc. (NYSE:CFR) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,980,000 shares, an increase of 8.2% from the March 31st total of 1,830,000 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 429,100 shares, the days-to-cover ratio is currently 4.6 days.

Analyst Ratings Changes

A number of research firms have recently weighed in on CFR. Evercore ISI raised their price target on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an “underperform” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. upped their target price on shares of Cullen/Frost Bankers from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. UBS Group lifted their price target on Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Truist Financial lowered their price objective on Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating for the company in a report on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $118.00 target price on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $117.46.

Insider Activity at Cullen/Frost Bankers

In related news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction on Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several hedge funds and other institutional investors have recently made changes to their positions in the business. NBC Securities Inc. acquired a new position in Cullen/Frost Bankers during the 3rd quarter worth $27,000. ICA Group Wealth Management LLC acquired a new stake in shares of Cullen/Frost Bankers in the 4th quarter worth approximately $33,000. Arvest Investments Inc. bought a new position in shares of Cullen/Frost Bankers in the fourth quarter valued at approximately $35,000. CWM LLC boosted its holdings in shares of Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after acquiring an additional 106 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $43,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Performance

NYSE:CFR traded down $0.97 during midday trading on Tuesday, reaching $104.32. 504,105 shares of the company traded hands, compared to its average volume of 424,401. Cullen/Frost Bankers has a twelve month low of $82.25 and a twelve month high of $120.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The company has a fifty day moving average price of $109.03 and a 200 day moving average price of $104.18. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same quarter last year, the company earned $2.70 earnings per share. On average, analysts expect that Cullen/Frost Bankers will post 8.46 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.53%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 43.50%.

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.