Short Interest in Cullen/Frost Bankers, Inc. (NYSE:CFR) Decreases By 9.0%

Cullen/Frost Bankers, Inc. (NYSE:CFR) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 2,230,000 shares, a decline of 9.0% from the May 31st total of 2,450,000 shares. Based on an average trading volume of 382,200 shares, the days-to-cover ratio is presently 5.8 days. Currently, 3.7% of the company’s stock are short sold.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CFR shares. Truist Financial dropped their target price on shares of Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. JPMorgan Chase & Co. cut their target price on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Jefferies Financial Group reduced their target price on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a report on Friday, April 26th. Finally, DA Davidson reissued a “buy” rating and issued a $126.00 target price on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $114.69.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock traded down $2.53 on Wednesday, hitting $98.49. 323,460 shares of the company’s stock were exchanged, compared to its average volume of 408,115. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $6.33 billion, a PE ratio of 11.82, a PEG ratio of 1.27 and a beta of 1.03. Cullen/Frost Bankers has a 1 year low of $82.25 and a 1 year high of $120.31. The company has a 50-day simple moving average of $102.53 and a 200-day simple moving average of $105.87.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. The business had revenue of $522.74 million during the quarter, compared to analyst estimates of $510.09 million. During the same quarter in the previous year, the company posted $2.70 earnings per share. As a group, equities analysts anticipate that Cullen/Frost Bankers will post 8.4 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date was Thursday, May 30th. Cullen/Frost Bankers’s payout ratio is 43.50%.

Institutional Trading of Cullen/Frost Bankers

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First National Bank of Hutchinson grew its holdings in Cullen/Frost Bankers by 1.6% during the 1st quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock valued at $713,000 after buying an additional 102 shares in the last quarter. CWM LLC grew its holdings in Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after buying an additional 106 shares in the last quarter. Commerce Bank increased its stake in Cullen/Frost Bankers by 1.0% in the 4th quarter. Commerce Bank now owns 13,047 shares of the bank’s stock worth $1,415,000 after acquiring an additional 128 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Cullen/Frost Bankers by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 25,995 shares of the bank’s stock worth $2,371,000 after acquiring an additional 130 shares in the last quarter. Finally, Cardinal Capital Management boosted its position in shares of Cullen/Frost Bankers by 1.3% during the 4th quarter. Cardinal Capital Management now owns 10,459 shares of the bank’s stock valued at $1,135,000 after acquiring an additional 130 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

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.