Cullen/Frost Bankers, Inc. (NYSE:CFR) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,684,700 shares, an increase of 21.9% from the July 31st total of 2,201,600 shares. Approximately 4.7% of the company’s stock are sold short. Based on an average trading volume of 307,400 shares, the short-interest ratio is currently 8.7 days.

Several brokerages have weighed in on CFR. Bank of America downgraded shares of Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $102.00 to $87.00 in a report on Thursday, July 11th. They noted that the move was a valuation call. ValuEngine upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Piper Jaffray Companies set a $100.00 price target on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Friday, July 26th. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Finally, Maxim Group restated a “buy” rating and issued a $105.00 price target (down from $110.00) on shares of Cullen/Frost Bankers in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus target price of $99.33.

In other Cullen/Frost Bankers news, Director Carlos Alvarez bought 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $85.08 per share, for a total transaction of $2,552,400.00. Following the completion of the transaction, the director now owns 454,000 shares of the company’s stock, valued at approximately $38,626,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick B. Frost sold 9,360 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $94.26, for a total transaction of $882,273.60. Following the sale, the insider now owns 157,433 shares of the company’s stock, valued at $14,839,634.58. The disclosure for this sale can be found here. Company insiders own 4.84% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of Cullen/Frost Bankers by 27.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,757,310 shares of the bank’s stock valued at $267,652,000 after buying an additional 600,509 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Cullen/Frost Bankers in the second quarter worth approximately $13,541,000. Invesco Ltd. grew its stake in shares of Cullen/Frost Bankers by 4.9% in the second quarter. Invesco Ltd. now owns 2,631,373 shares of the bank’s stock worth $246,454,000 after acquiring an additional 122,087 shares during the period. Nuance Investments LLC bought a new stake in shares of Cullen/Frost Bankers in the second quarter worth approximately $9,583,000. Finally, Lawson Kroeker Investment Management Inc. NE bought a new stake in shares of Cullen/Frost Bankers in the second quarter worth approximately $5,971,000. 80.65% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers stock traded up $0.40 during midday trading on Friday, hitting $90.45. 423,772 shares of the company’s stock were exchanged, compared to its average volume of 303,367. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.60 and a current ratio of 0.60. Cullen/Frost Bankers has a 12 month low of $79.86 and a 12 month high of $111.24. The firm has a 50-day moving average of $86.55 and a two-hundred day moving average of $94.94. The company has a market cap of $5.56 billion, a PE ratio of 13.11, a P/E/G ratio of 1.37 and a beta of 1.38.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $1.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.72. The company had revenue of $360.39 million during the quarter, compared to analyst estimates of $364.59 million. Cullen/Frost Bankers had a net margin of 31.57% and a return on equity of 13.85%. During the same period last year, the firm posted $1.68 EPS. As a group, equities analysts expect that Cullen/Frost Bankers will post 6.84 earnings per share for the current year.

Cullen/Frost Bankers announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 25th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire up to 1.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.71 per share. The ex-dividend date is Thursday, August 29th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.14%. Cullen/Frost Bankers’s payout ratio is presently 41.16%.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

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