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

Cullen/Frost Bankers, Inc. (NYSE:CFR) was the recipient of a large 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 daily volume of 382,200 shares, the short-interest ratio is presently 5.8 days. Approximately 3.7% of the company’s shares are sold short.

Hedge Funds Weigh In On Cullen/Frost Bankers

Institutional investors have recently made changes to their positions in the business. ICA Group Wealth Management LLC bought a new stake in Cullen/Frost Bankers during the 4th quarter valued at approximately $33,000. Arvest Investments Inc. bought a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at approximately $35,000. CWM LLC grew its stake in shares of Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after acquiring an additional 106 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Cullen/Frost Bankers by 90.7% in the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after acquiring an additional 186 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in Cullen/Frost Bankers during the fourth quarter worth $43,000. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 price objective on shares of Cullen/Frost Bankers in a research note on Tuesday, April 9th. Truist Financial decreased their price target on shares of Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating for the company in a report on Monday, April 29th. Jefferies Financial Group cut their target price on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research report on Wednesday. Evercore ISI lowered their price target on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a report on Tuesday, June 25th. Finally, DA Davidson reiterated a “buy” rating and set a $126.00 price objective on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus price target of $114.69.

Cullen/Frost Bankers Stock Down 2.5 %

NYSE CFR traded down $2.53 during trading on Wednesday, hitting $98.49. 323,460 shares of the company traded hands, compared to its average volume of 408,115. The company has a market capitalization of $6.33 billion, a P/E ratio of 11.82, a PEG ratio of 1.27 and a beta of 1.03. The business has a fifty day simple moving average of $102.53 and a 200 day simple moving average of $105.87. Cullen/Frost Bankers has a 12 month low of $82.25 and a 12 month high of $120.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. The business had revenue of $522.74 million during the quarter, compared to analysts’ expectations of $510.09 million. During the same period in the previous year, the company earned $2.70 earnings per share. As a group, sell-side analysts predict that Cullen/Frost Bankers will post 8.4 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend was Thursday, May 30th. Cullen/Frost Bankers’s dividend payout ratio is currently 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.