Cullen/Frost Bankers, Inc. (NYSE:CFR) Short Interest Update

Cullen/Frost Bankers, Inc. (NYSE:CFR) recently experienced a notable decline in short interest during January. As of the end of the month on January 31st, the short interest amounted to 2,520,000 shares, reflecting an 8.7% drop from 2,760,000 shares reported on January 15th. At present, 4.2% of the company's total stock is sold short. With an average daily trading volume of 410,100 shares, the short-interest ratio currently stands at 6.1 days.

Cullen/Frost Bankers Price Performance

On a recent trading day, CFR stock saw a slight decrease of $0.25, reaching a value of $143.53 at mid-day. During this period, 564,412 shares changed hands, higher than the average trading volume of 474,446. Over the past year, Cullen/Frost Bankers has recorded a low of $94.09 and a high of $147.64. The company maintains a low debt-to-equity ratio of 0.06, alongside a current ratio of 0.66. The stock's 50-day moving average is at $137.97, while the 200-day moving average is $126.87. Cullen/Frost Bankers boasts a market capitalization of $9.20 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 6.52, and a beta of 0.99.

Latest Earnings Results

The bank published its earnings results on January 30th, showing an earnings per share (EPS) of $2.36 for the quarter, exceeding the expected consensus estimate of $2.17 by $0.19. The return on equity for Cullen/Frost Bankers stands at 16.04%, with a notable net margin of 18.81%. Analysts predict that the bank will report an EPS of 8.69 for the current year.

Cullen/Frost Bankers Dividend Announcement

The company recently disclosed a quarterly dividend, scheduled for payment on March 14th, 2024. Shareholders on record as of February 28th will receive a dividend of $0.95 per share, translating to an annualized dividend of $3.80 and a yield of 2.65%. The ex-dividend date is also set for February 28th. The dividend payout ratio stands at 42.84%.

Insider Transactions at Cullen/Frost Bankers

In recent insider activities, CEO Phillip D. Green sold 14,358 shares at an average price of $137.96 on November 19th, totaling approximately $1.98 million. Post-sale, the CEO holds 94,423 shares valued at around $13.03 million, marking a 13.20% decrease in his ownership. Additionally, insider Paul Bracher sold 11,500 shares on January 31st at an average price of $139.45, bringing in about $1.60 million. After this transaction, Bracher retains 102,946 shares worth approximately $14.36 million. Insider ownership stands at 2.89% of the total shares.

Institutional Investor Activity

Recently, several institutional investors modified their positions in Cullen/Frost Bankers. Boston Trust Walden Corp established a new stake worth approximately $107 million in the third quarter. Norges Bank acquired shares valued at roughly $69.59 million in the fourth quarter. Vaughan Nelson Investment Management L.P. and Madison Investment Advisors LLC also took new positions valued at around $54 million and $46 million, respectively. Meanwhile, The Manufacturers Life Insurance Company expanded its holdings by 117.4% in the third quarter, now owning 568,730 shares valued at about $63.62 million. Institutional investors collectively hold 86.90% of the company's stock.

Analyst Ratings Updates

Analysts have provided updates regarding CFR. Evercore ISI raised its price target from $136.00 to $144.00, labeling the stock as "underperform". Meanwhile, DA Davidson downgraded the stock from "buy" to "neutral", raising the target from $138.00 to $143.00. Keefe, Bruyette & Woods updated their target from $140.00 to $148.00, rating it "market perform". Stephens increased their forecast from $125.00 to $136.00 and assigned an "equal weight" rating. Finally, Compass Point adjusted its target from $122.00 to $145.00, maintaining a "neutral" rating. Currently, four analysts have a sell rating on the stock, eight hold, and two recommend a buy, indicating an average recommendation of "Hold" with a target price of $132.54.

Cullen/Frost Bankers Company Overview

Cullen/Frost Bankers, Inc. acts as the holding company for Frost Bank, delivering various commercial and consumer banking services throughout Texas. The company specializes in commercial banking services for businesses, including financing solutions for industrial and commercial properties, equipment, inventories, accounts receivables, and acquisitions, along with treasury management services and commercial leasing.

Short, Interest, Stock