Cullen/Frost Bankers (CFR) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 8,559,601 to 8,093,723 shares, with 18 days to go before the expiry. The short open interest has decreased by -5.4%, amounting to a reduction of -465,878 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 14.7% of the float of the company. The average daily volume of the stock is 456,880 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Cullen/Frost Bankers (NYSE:CFR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $71.29 and $71.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $71.73. The buying momentum continued till the end and the stock did not give up its gains. It closed at $71.65, notching a gain of 0.28% for the day. The total traded volume was 366,297 . The stock had closed at $71.45 on the previous day.
In a related news, Berman Bobby, officer (Group Executive Vice President) of Cullen/Frost Bankers, Inc., unloaded 7,101 shares at an average price of $70.46 on August 15, 2016. The total amount of the transaction was worth $500,336, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Cullen/Frost Bankers, Inc. (Cullen/Frost) is a financial holding and a bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, trust and investment management, mutual funds, investment banking, insurance, brokerage, leasing, treasury management and item processing services. The Company serves industries, including energy, manufacturing, services, construction, retail, telecommunications, healthcare, military and transportation, among others. The Company operates in two segments: Banking and Frost Wealth Advisors. The Banking segment includes commercial and consumer banking services, Frost Securities, Inc. and Frost Insurance Agency. Commercial banking services are provided to corporations and other business clients. Consumer banking services include direct lending and depository services. The Frost Wealth Advisors segment includes fee-based services within private trust, retirement services and financial management services.